By Wendy Van Sickle
Columbus, Ohio, Feb. 22 – Wells Fargo Finance LLC priced $1 million of additional equity-linked notes due Sept. 28, 2023 linked to the common stock of Delta Air Lines, Inc. at in a reoffering, according to a 424B2 filing with the Securities and Exchange Commission.
As previously reported, Wells Fargo priced $31,712,000 of the equity-linked notes on Feb. 4.
The payout at maturity will be the greater of par or final parity.
Final parity is the share ratio, 14.05538, multiplied by the final stock price on the determination date, Sept. 25, 2023.
In order to receive a positive return, the underlying stock price must appreciate approximately 41.71% from its initial stock price.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo Finance LLC
|
| Issue: | Equity-linked notes
|
| Underlying stock: | Delta Air Lines, Inc. (Symbol: DAL)
|
| Amount: | $1 million reopening
|
| Original issue: | $31,712,000 priced on Feb. 4
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| Maturity: | Sept. 28, 2023
|
| Price: | 98.79
|
| Payout at maturity: | Greater of par or final parity
|
| Final parity: | Share ratio multiplied by final stock price
|
| Share ratio: | 14.05538
|
| Strike parity: | $705.68
|
| Initial share price: | $50.207
|
| Pricing date: | Feb. 20
|
| Settlement date: | Feb. 22
|
| Underwriter: | Wells Fargo Securities, LLC
|
| Fees: | None
|
| Cusip: | 95001H3A7
|
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