By Angela McDaniels
Tacoma, Wash., Dec. 6 – Wells Fargo Finance LLC priced $2.32 million of 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Dec. 5, 2022 linked to the SPDR S&P 500 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
If the final share price is greater than the initial share price, the payout at maturity will be par plus 150% of the trust return, subject to a maximum return of 25%.
If the final share price is less than or equal to the initial share price but greater than or equal to the threshold price, 90% of the initial share price, the payout will be par.
If the final share price is less than the threshold price, investors will lose 1% for every 1% that the trust declines beyond 10%.
The notes are guaranteed by Wells Fargo & Co.
Wells Fargo Securities LLC is the agent.
| Issuer: | Wells Fargo Finance LLC
|
| Guarantor: | Wells Fargo & Co.
|
| Issue: | Market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside
|
| Underlying ETF: | SPDR S&P 500 ETF trust
|
| Amount: | $2,315,000
|
| Maturity: | Dec. 5, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final share price is greater than initial share price, par plus 150% of trust return, subject to 25% maximum return; if final share price is less than or equal to initial share price but greater than or equal to threshold price, par; if final share price is less than threshold price, 1% loss for every 1% that trust declines beyond 10%
|
| Initial share price: | $314.08
|
| Threshold price: | $282.672, or 90% of initial share price
|
| Pricing date: | Nov. 26
|
| Settlement date: | Dec. 4
|
| Agent: | Wells Fargo Securities, LLC
|
| Fees: | 2.075%
|
| Cusip: | 95001HC58
|
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