Wells Fargo to price equity-linked notes tied to Delta

Chicago, Feb. 5 – Wells Fargo Finance LLC plans to price 0% equity-linked notes due in September 2023 linked to the common stock of Delta Air Lines, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be the greater of par and final parity.

Final parity will be determined by multiplying the final stock price by the share ratio.

The share ratio is a constant number for the life of the notes, calculated by dividing strike parity by the initial stock price.

Strike parity is the share ratio multiplied by the initial stock price. It is less than both the original offering price and the principal amount of notes.

Wells Fargo Securities LLC is the agent.

The notes will price in February.

The Cusip number is 95001H3A7.

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