New Issue: Wells Fargo sells $3.09 million contingent market-linked autocalls on S&P, Russell

By Sarah Lizee

Olympia, Wash., Oct. 10 – Wells Fargo Finance LLC priced $3.09 million of market-linked securities due Oct. 8, 2021 – autocallable with buffered downside with multiplier linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Wells Fargo & Co.

The notes will be called at par plus 9.15% per year if each index closes at or above its initial level on any quarterly observation date beginning in Oct. 5, 2020.

The payout at maturity will be par unless either index finishes below its 80% downside threshold, in which case investors will lose 1.25% for every 1% decline of the lesser performing index.

Wells Fargo Securities LLC is the agent.

Issuer:	Wells Fargo Finance LLC.
Guarantor:	Wells Fargo & Co.
Issue:	Market linked securities – autocallable with buffered downside with multiplier
Underlying indexes:	S&P 500 index, Russell 2000 index
Amount:	$3,085,000
Maturity:	Oct. 8, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	Par unless either index falls by more than 20%, in which case 1.25% loss per 1% decline of worst performing index
Call:	At par plus 9.15% per year if each index closes at or above its initial level on any interest payment date beginning Oct. 5, 2020
Initial levels:	2,940.25 for S&P, 1,493.432 for Russell
Downside thresholds:	2,352.20 for S&P, 1,194.7456 for Russell, 80% of initial levels
Pricing date:	Oct. 1
Settlement date:	Oct. 4
Agent:	Wells Fargo Securities LLC
Fees:	0.05%
Cusip:	95001HBD2

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