By Sarah Lizee
Olympia, Wash., April 2 – Wells Fargo Finance LLC priced $3.49 million of 0% market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside due April 3, 2024 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.
The payout at maturity will be par plus 150% of any gain in the index, capped at par plus 51%.
If the index falls but not beyond 15%, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline beyond the buffer.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo Finance LLC
|
| Guarantor: | Wells Fargo & Co.
|
| Issue: | Market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside
|
| Underlying index: | S&P 500
|
| Amount: | $3,494,000
|
| Maturity: | April 3, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 150% of any gain index, capped at par plus 51%; par if index falls by up to 15%; otherwise, 1% loss for every 1% decline beyond the buffer
|
| Initial level: | 2,834.40
|
| Buffer level: | 2,409.24, 85% of initial level
|
| Pricing date: | March 29
|
| Settlement date: | April 3
|
| Agent: | Wells Fargo Securities LLC
|
| Fees: | 2.62%
|
| Cusip: | 95001H3H2
|
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