New Issue: Wells Fargo prices $70.53 million trigger gears linked to S&P 500

By Marisa Wong

Los Angeles, April 1 – Wells Fargo Finance LLC priced $70.53 million of 0% trigger gears due March 31, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Wells Fargo & Co.

If the index return is greater than zero, the payout at maturity will be par of $10 plus 1.75 times the index gain. Investors will receive par if the index declines by 25% or less and have one-to-one exposure to the index’s decline from its initial level if it declines by more than 25%.

UBS Financial Services Inc. and Wells Fargo Securities are the agents.

Issuer:	Wells Fargo Finance LLC
Guarantor:	Wells Fargo & Co.
Issue:	Trigger gears
Underlying index:	S&P 500
Amount:	$70,530,790
Maturity:	March 31, 2025
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 1.75 times any index gain; par if index declines by up to 25%; full exposure to index’s decline from initial level if index finishes below downside threshold
Initial level:	2,630.07
Downside threshold:	1,972.55, 75% of initial level
Pricing date:	March 26
Settlement date:	March 31
Agents:	UBS Financial Services Inc. and Wells Fargo Securities
Fees:	3.5%
Cusip:	95002W651

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