New Issue: Wells Fargo sells $11.32 million 5.15% market-linked notes on S&P, Russell

By Wendy Van Sickle

Columbus, Ohio, May 8 – Wells Fargo Finance LLC priced $11.32 million of 5.15% market-linked securities – fixed coupon and buffered downside with multiplier due Nov. 5, 2020 linked to the Russell 2000 index and 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 if neither index finishes below 80% of its initial level.

Otherwise, investors will lose 1.25% for each 1% decline in the lesser performing index beyond the buffer.

Wells Fargo Securities, LLC is the agent.

Issuer:	Wells Fargo Finance LLC
Guarantor:	Wells Fargo & Co.
Issue:	Market-linked securities – fixed coupon and buffered downside with multiplier
Underlying indexes:	S&P 500 and Russell 2000
Amount:	$11,315,000
Maturity:	Nov. 5, 2020
Coupon:	5.15%
Price:	Par
Payout at maturity:	Par if lesser performing index gains, finishes flat or falls by up to 20%; otherwise, 1.25% loss for every 1% decline in lesser performing index beyond the buffer
Initial level:	2,923.73 for S&P, 1,576.379 for Russell
Buffer level:	2,338.984 for S&P, 1,261.1032 for Russell, 80% of initial level
Pricing date:	May 2
Settlement date:	May 7
Agent:	Wells Fargo Securities LLC
Fees:	0.5%
Cusip:	95001H5P2

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