By Wendy Van Sickle
Columbus, Ohio, June 5 – Wells Fargo Finance LLC priced $18.65 million of 0% Accelerated Return Notes due July 31, 2020 linked to a basket of financial sector stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of Citigroup Inc. with a 33.33% weight, JPMorgan Chase & Co. with a 33.33% weight and Morgan Stanley with a 33.33% weight.
The payout at maturity will be par of $10 plus 300% of any basket gain, subject to a maximum return of 23.7%. Investors will be exposed to any basket decline.
The notes are guaranteed by Wells Fargo & Co.
BofA Merrill Lynch is the underwriter.
| Issuer: | Wells Fargo Finance LLC
|
| Guarantor: | Wells Fargo & Co.
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| Issue: | Accelerated Return Notes
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| Underlying stocks: | Citigroup Inc. with a 33.33% weight, JPMorgan Chase & Co. with a 33.33% weight and Morgan Stanley with a 33.34% weight
|
| Amount: | $18,645,670
|
| Maturity: | July 31, 2020
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 300% of any basket gain, capped at 23.7%; exposure to any basket decline
|
| Initial share prices: | $63. 61 for Citigroup, $107.06 for JPMorgan and $41.83 for Morgan Stanley
|
| Pricing date: | May 30
|
| Settlement date: | June 6
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 95002W107
|
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