New Issue: Wells Fargo prices $3.21 million trigger gears linked to S&P 500

By Sarah Lizee

Olympia, Wash., Feb. 6 – Wells Fargo Finance LLC priced $3.21 million of 0% trigger gears due Jan. 31, 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.

If the index return is greater than zero, the payout at maturity will be par of $10 plus 1.2125 times the index return. Investors will receive par if the index declines by 25% or less and have one-to-one exposure to the index’s decline from its initial level if it declines by more than 25%.

UBS Financial Services Inc. and Wells Fargo Securities are the agents.

Issuer:	Wells Fargo Finance LLC
Guarantor:	Wells Fargo & Co.
Issue:	Trigger gears
Underlying index:	S&P 500
Amount:	$3,212,100
Maturity:	Jan. 31, 2023
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index return is greater than zero, par plus 1.2125 times index return; par if index declines by up to trigger level; full exposure to index’s decline from initial level if index declines by more than trigger level
Initial level:	3,276.24
Trigger level:	2,457.18, 75% of initial level
Pricing date:	Jan. 28
Settlement date:	Jan. 31
Agents:	UBS Financial Services Inc. and Wells Fargo Securities
Fees:	None
Cusip:	95002W693

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