By Kiku Steinfeld
Chicago, Nov. 7 – Wells Fargo Finance LLC priced $280,000 of 0% market-linked securities with leveraged upside participation to a cap and contingent downside due Oct. 25, 2024 linked to the Dow Jones industrial average, 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 150% of any index gain, subject to a maximum return of $2,050 per each $1000 principal amount of notes.
Investors will receive par if the index finishes at or above its downside threshold, 75% of its initial level.
Otherwise, investors will be fully exposed to the loss of the index from its initial level.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo Finance LLC
|
| Guarantor: | Wells Fargo & Co.
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| Issue: | Market-linked securities – leveraged upside participation to a cap and contingent downside
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| Underlying index: | Dow Jones industrial average
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| Amount: | $280,000
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| Maturity: | Oct. 25, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 150% of any index gain, subject to a maximum of $2,050 per each $1000 principal amount of notes; par if index finishes at or above downside threshold; otherwise, full exposure to loss of index from its initial level
|
| Initial level: | 26770.20
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| Downside threshold: | 20077.65, 75% of initial level
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| Pricing date: | Oct. 18
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| Settlement date: | Oct. 25
|
| Agent: | Wells Fargo Securities, LLC
|
| Fees: | 3.4%
|
| Cusip: | 95001HB75
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