By Angela McDaniels
Tacoma, Wash., June 11 – Wells Fargo Finance LLC priced $1.3 million of 0% market-linked securities with upside participation to a cap and fixed percentage buffered downside due Aug. 19, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than the initial index level, the payout at maturity will be par plus the index return, subject to a maximum return of 16.8%.
If the final index level is less than or equal to the initial index level but greater than or equal to the threshold level, 90% of the initial index level, the payout will be par.
If the final index level is less than the threshold level, investors will lose 1% for every 1% that the index declines below the threshold level.
The notes are guaranteed by Wells Fargo & Co.
Wells Fargo Securities LLC is the agent.
| Issuer: | Wells Fargo Finance LLC
|
| Guarantor: | Wells Fargo & Co.
|
| Issue: | Market-linked securities with upside participation to a cap and fixed percentage buffered downside
|
| Underlying index: | S&P 500
|
| Amount: | $1,296,000
|
| Maturity: | Aug. 19, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus any index gain, up to 16.8% maximum return; par if index declines by 10% or less; 1% loss for every 1% that index declines beyond 10%
|
| Initial level: | 2,843.49
|
| Threshold level: | 2,559.141, or 90% of initial level
|
| Pricing date: | June 7
|
| Settlement date: | June 12
|
| Agent: | Wells Fargo Securities LLC
|
| Cusip: | 95001H5Y3
|
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