New Issue: Wells Fargo prices $1 million market-linked securities on S&P

By Kiku Steinfeld

Chicago, Nov. 7 – Wells Fargo Finance LLC priced $1 million of 0% leveraged upside participation and contingent downside market-linked securities due Oct. 26, 2023 linked to the S&P 500 index, 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 150% of any index gain. Investors will receive par if the index declines but finishes at or above its downside threshold, 85% of its initial level. Otherwise, investors will be fully exposed to the loss of the index from its initial level.

Wells Fargo Securities, LLC is the agent.

Issuer:	Wells Fargo Finance LLC
Guarantor:	Wells Fargo & Co.
Issue:	Market-linked securities – leveraged upside participation and contingent downside
Underlying index:	S&P 500
Amount:	$1,000,000
Maturity:	Oct. 26, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 150% of any index gain; par if index declines but finishes at or above downside threshold; otherwise, full exposure to loss of index from its initial level
Initial level:	2986.20
Downside threshold:	2538.27, 85% of initial level
Pricing date:	Oct. 21
Settlement date:	Oct. 24
Agent:	Wells Fargo Securities, LLC
Fees:	0.6%
Cusip:	95001HBR1

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.