New Issue: Wells Fargo prices $7.3 million digital securities linked to S&P 500

By Sarah Lizee

Olympia, Wash., July 23 – Wells Fargo Finance LLC priced $7.3 million 0% digital securities with buffered downside due June 28, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Wells Fargo & Co.

If the index finishes at or above the 87.5% threshold level, the payout at maturity will be the maximum settlement amount of $1,125.50 for each $1,000 principal amount.

Otherwise, investors will lose 1.1429% for each 1% decline beyond 12.5%.

Wells Fargo Securities, LLC is the agent.

Issuer:	Wells Fargo & Co.
Issue:	Digital securities with buffered downside
Underlying index:	S&P 500
Amount:	$7,296,000
Maturity:	June 28, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is greater than or equal to negative 12.5%, $1,125.50 per $1,000 principal amount; if index return is less than negative 12.5%, 1.1429% loss for every 1% that index declines beyond 12.5%
Initial index level:	2,976.61
Buffer level:	2,604.53375, 87.5% of initial level
Pricing date:	July 19
Settlement date:	July 26
Agent:	Wells Fargo Securities, LLC
Fees:	None
Cusip:	95001H6W6

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