By Sarah Lizee
Olympia, Wash., Dec. 12 – Wells Fargo Finance LLC priced $40.47 million of 0% capped notes with absolute return buffer due Nov. 26, 2021 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.
Investors will fully participate in the gains of the index up to a 10% cap.
If the index declines, but not more than 13.55%, investors will receive par plus the absolute value of the index return.
Otherwise, investors will be exposed to the decline in the index beyond the buffer.
BofA Securities, Inc. is the agent.
| Issuer: | Wells Fargo Finance LLC
|
| Guarantor: | Wells Fargo & Co.
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| Issue: | Capped notes with absolute return buffer
|
| Underlying index: | S&P 500
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| Amount: | $40,465,290
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| Maturity: | Nov. 26, 2021
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index closes above initial level, investors will participate in the increase of the index capped at 10%; if index declines by up to 13.55%, investors receive par plus absolute value of index return; otherwise, exposure to losses of index beyond buffer
|
| Initial index level: | 3,140.52
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| Threshold value: | 2,714.98, 86.45% of initial level
|
| Pricing date: | Nov. 26
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| Settlement date: | Dec. 4
|
| Agent: | BofA Securities Inc.
|
| Fees: | 2%
|
| Cusip: | 95002W768
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