New Issue: Wells Fargo sells $1.52 million buffered enhanced return notes on S&P

By Wendy Van Sickle

Columbus, Ohio, June 14 – Wells Fargo Finance LLC priced $1.52 million of buffered enhanced return securities with capped upside and buffered downside due Jan. 22, 2021 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.

If the index return is positive, the payout at maturity will be par plus 170% of the index return, subject to a maximum payment of par plus 18.87%. Investors will receive par if the index falls by up to 10% and lose 1.1111% for every 1% decline in the index beyond 10%.

Wells Fargo Securities, LLC is the agent.

Issuer:	Wells Fargo Finance LLC
Guarantor:	Wells Fargo & Co.
Issue:	Buffered enhanced return securities with capped upside and buffered downside
Underlying index:	S&P 500
Amount:	$1,515,000
Maturity:	Jan. 22, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 170% of index return, subject to maximum payment of par plus 18.87%; par if index falls by up to 10%; 1.1111% loss for every 1% decline in index beyond 10%
Initial index level:	2,885.72
Buffer level:	2,597.148, 90% of initial level
Pricing date:	June 11
Settlement date:	June 18
Agent:	Wells Fargo Securities, LLC
Fees:	None
Cusip:	95001H5X5

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