New Issue: Wells Fargo prices $1 million contingent market-linked notes on ETFs

By Sarah Lizee

Olympia, Wash., Sept. 6 – Wells Fargo Finance LLC priced $1 million of 0% market-linked securities with contingent fixed return and contingent downside due Sept. 10, 2020 linked to the SPDR S&P Oil & Gas Exploration & Production ETF, the SPDR S&P Retail ETF and the SPDR S&P Biotech ETF, according to a 424B2 filed with the Securities and Exchange Commission.

The notes are guaranteed by Wells Fargo & Co.

If the final return of the least performing ETF is flat, positive, or negative by up to 40%, the payout at maturity will be par plus 12.7%.

If any ETF declines by more than 40%, the payout will be par plus the return of the least performing ETF with full exposure to the loss.

Wells Fargo Securities, LLC is the agent.

Issuer:	Wells Fargo Finance LLC
Guarantor:	Wells Fargo & Co.
Issue:	Market-linked securities with contingent fixed return and contingent downside
Underlying ETFs:	SPDR S&P Oil & Gas Exploration & Production ETF, SPDR S&P Retail ETF and SPDR S&P Biotech ETF
Amount:	$1 million
Maturity:	Sept. 10, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If the final return of the least performing ETF is flat, positive, or negative by up to 40%, par plus 12.7%; if any ETF declines by more than 40%, par plus the return of the least performing ETF with full exposure to the loss
Initial levels:	$21.25 for oil ETF, $39.55 for retail ETF, $80.06 for biotech ETF
Pricing date:	Aug. 28
Settlement date:	Sept. 3
Agents:	Wells Fargo Securities, LLC
Fees:	0.75%
Cusip:	95001HA84

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