By Sarah Lizee
Olympia, Wash., Feb. 7 – Wells Fargo Finance LLC priced $7.08 million of 0% capped trigger gears due Jan. 31, 2023 linked to the Euro Stoxx 50 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 positive, the payout at maturity will be par plus 5 times the index gain, capped at par plus 40.5%.
If the index finishes at or below the initial level but at or above the downside threshold, 75% of the initial level, the payout will be par.
Otherwise, investors will be fully exposed to the index decline.
Wells Fargo Securities, LLC and UBS Financial Services Inc. are the agents.
Issuer: | Wells Fargo Finance LLC
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Guarantor: | Wells Fargo & Co.
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Issue: | Capped trigger gears
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Underlying index: | Euro Stoxx 50 index
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Amount: | $7,078,300
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Maturity: | Jan. 31, 2023
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 5 times any index gain, capped at par plus 40.5%; par if index finishes at or below the initial level but at or above downside threshold; otherwise, full exposure to index decline
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Initial index level: | 3,736.36
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Downside threshold: | 2,802.27, 75% of initial level
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Pricing date: | Jan. 29
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Settlement date: | Jan. 31
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Underwriters: | Wells Fargo Securities, LLC and UBS Financial Services Inc.
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Fees: | 2.5%
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Cusip: | 95002W685
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