By Sarah Lizee
Olympia, Wash., Sept. 20 – Wells Fargo Finance LLC priced $40.3 million of 0% buffered enhanced return securities with capped upside and buffered downside due Sept. 20, 2021 linked to the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Wells Fargo & Co.
If the ETF return is positive, the payout at maturity will be par plus 150% of the ETF return, subject to a maximum payment of par plus 21.525%.
Investors will receive par if the ETF falls by up to 15% and lose 1.1765% for every 1% decline in the ETF beyond 15%.
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 ETF: | iShares MSCI Emerging Markets
|
| Amount: | $40,301,000
|
| Maturity: | Sept. 20, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the ETF return is positive, par plus 150% of the ETF return, capped at par plus 21.525%; par if the ETF falls by up to 15%; 1.1765% loss for every 1% decline in the ETF beyond 15%
|
| Initial level: | $41.91
|
| Pricing date: | Sept. 16
|
| Settlement date: | Sept. 23
|
| Agents: | Wells Fargo Securities, LLC
|
| Fees: | 2%
|
| Cusip: | 95001HAL5
|
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