By Sarah Lizee
Olympia, Wash., April 1 – Wells Fargo Finance LLC priced $1.76 million of 6.25% market linked securities – autocallable with fixed coupon and buffered downside with multiplier due Oct. 1, 2021 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.
Interest is payable semiannually.
The notes will be called at par if the index closes at or above its initial level on March 29, 2021.
If the notes are not called, the payout at maturity will be par unless the index finishes below 80% of its initial level, in which case investors will lose 1.25% for every 1% decline of the index beyond the buffer.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo Finance LLC
|
| Guarantor: | Wells Fargo & Co.
|
| Issue: | Market linked securities – autocallable with fixed coupon and buffered downside with multiplier
|
| Underlying index: | S&P 500
|
| Amount: | $1,757,000
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| Maturity: | Oct. 1, 2021
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| Coupon: | 6.25%; payable semiannually
|
| Price: | Par
|
| Payout at maturity: | Par unless the index finishes below 80% of its initial level, in which case investors will lose 1.25% for every 1% decline of the index beyond the buffer
|
| Call: | At par if the index closes at or above its initial level on March 29, 2021
|
| Initial level: | 2,447.33
|
| Pricing date: | March 24
|
| Settlement date: | March 27
|
| Agent: | Wells Fargo Securities LLC
|
| Fees: | 0.375%
|
| Cusip: | 95001HHJ3
|
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