By Wendy Van Sickle
Columbus, Ohio, Aug. 6 – Wells Fargo Finance LLC priced $2.25 million of 0% market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside due Feb. 7, 2023 linked to the Energy Select Sector SPDR fund, 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 plus 1.5 times any gain in the ETF, up to a maximum payout of par plus 44%.
If the ETF falls by up to 15%, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline of the ETF beyond 15%.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo Finance LLC
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| Guarantor: | Wells Fargo & Co.
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| Issue: | Market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside
|
| Underlying ETF: | Energy Select Sector SPDR fund
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| Amount: | $2.25 million
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| Maturity: | Feb. 7, 2023
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| Coupon: | 0%
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| Price: | Par
|
| Payout at maturity: | Par plus 1.5 times any gain in the ETF, up to maximum payout of par plus 44%; if the ETF falls by up to 15%, par; otherwise, 1% loss for every 1% decline of the ETF beyond 15%
|
| Initial level: | $62.70
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| Threshold price: | $53.295, 85% of initial level
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| Pricing date: | July 31
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| Settlement date: | Aug. 7
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| Agent: | Wells Fargo Securities LLC
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| Fees: | 2.075%
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| Cusip: | 95001H6E6
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