By Wendy Van Sickle
Columbus, Ohio, April 25 – Wells Fargo Finance LLC priced $1.1 million of 0% market-linked securities – leveraged upside participation to a cap with contingent absolute return and contingent downside due April 25, 2022 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 125% of any gain in the index, capped at par plus 50%.
If the index falls but not beyond 20%, the payout will be par plus the absolute value of the index return.
Otherwise, investors will lose 1% for each 1% decline in the index from its initial level.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo Finance LLC
|
| Guarantor: | Wells Fargo & Co.
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| Issue: | Market-linked securities – leveraged upside participation to a cap with contingent absolute return and contingent downside
|
| Underlying index: | S&P 500
|
| Amount: | $1,104,000
|
| Maturity: | April 25, 2022
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 125% of any gain index, capped at par plus 50%; if index falls by up to 20%, par plus absolute value of index return; otherwise, 1% loss for every 1% decline
|
| Initial level: | 2,905.03
|
| Buffer level: | 2,324.024, 20% of initial level
|
| Pricing date: | April 18
|
| Settlement date: | April 26
|
| Agent: | Wells Fargo Securities LLC
|
| Fees: | 0.4%
|
| Cusip: | 95001H4K4
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