New Issue: Wells Fargo sells $3.5 million market-linked notes with fixed coupon on S&P, Nasdaq

By Kiku Steinfeld

Chicago, Nov. 7 – Wells Fargo Finance LLC priced $3.5 million of 5.11% market-linked securities with a fixed coupon and buffered downside with multiplier due Nov. 27, 2020 linked to the least performing of the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Wells Fargo & Co.

The notes pay a fixed monthly coupon at an annual rate of 5.11%.

The payout at maturity will be par plus the final coupon unless any index finishes below its 80% downside threshold level, in which case investors will lose 1.25% for every 1% decline of the least performing index beyond 20% of its initial level.

Wells Fargo Securities LLC is the agent.

Issuer:	Wells Fargo Finance LLC.
Guarantor:	Wells Fargo & Co.
Issue:	Market-linked securities – fixed coupon and buffered downside with multiplier
Underlying indexes:	S&P 500 index, Nasdaq-100 index
Amount:	$3,500,000
Maturity:	Nov. 27, 2020
Coupon:	5.11% annualized, payable monthly
Price:	Par
Payout at maturity:	Par plus final coupon unless any index falls by more than 20%, in which case 1.25% loss per 1% decline of worst performing index beyond 20% of initial level
Initial levels:	2986.20 for S&P, 7868.491 for Nasdaq
Downside thresholds:	2388.96 for S&P, 6294.7928 for Nasdaq, 80% of initial levels
Pricing date:	Oct. 21
Settlement date:	Oct. 24
Agent:	Wells Fargo Securities LLC
Fees:	None
Cusip:	95001HBS9

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