By Wendy Van Sickle
Columbus, Ohio, Oct. 5 – Wells Fargo & Co. priced $533,000 of 0% market linked securities – autocallable with fixed-percentage buffered downside due Oct. 5, 2020 linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annualized premium of 7% if the fund closes above its initial level on an annual observation date.
The payout at maturity will be par unless the fund finishes below its 90% threshold, in which case investors will be exposed to losses.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Market linked securities – autocallable with fixed-percentage buffered downside
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| Underlying fund: | Energy Select Sector SPDR
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| Amount: | $533,000
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| Maturity: | Oct. 5, 2020
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | Par unless the fund falls by more than 10%, in which case exposure to any losses
|
| Call: | At par plus premium of 7% a year if fund finishes above initial level on annual call date
|
| Initial level: | $68.48
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| Threshold: | $61.632, 90% of initial level
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| Pricing date: | Sept. 29
|
| Settlement date: | Oct. 4
|
| Agent: | Wells Fargo Securities LLC
|
| Fees: | 1.825%
|
| Cusip: | 95000E2S7
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