By Kiku Steinfeld
Chicago, Nov. 27 – Wells Fargo Finance LLC priced $500,000 of 0% market-linked securities with leveraged upside participation and a fixed percentage buffered downside due May 17, 2022 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 double any gain in the index, subject to a maximum return of par plus 21%.
If the index falls by up to 15%, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline of the index beyond 15%.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo Finance LLC
|
| Guarantor: | Wells Fargo & Co.
|
| Issue: | Market-linked securities – leveraged upside participation and fixed percentage buffered downside
|
| Underlying index: | S&P 500
|
| Amount: | $500,000
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| Maturity: | May 17, 2022
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus double any gain in index, subject to maximum return of par plus 21%; if index falls by up to 15%, par; otherwise, 1% loss for every 1% decline of index beyond 15%
|
| Initial level: | 3093.08
|
| Threshold level: | 2,629.118, 85% of initial level
|
| Pricing date: | Nov. 12
|
| Settlement date: | Nov. 15
|
| Agent: | Wells Fargo Securities LLC
|
| Fees: | 0.5%
|
| Cusip: | 95001HCH2
|
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