Wells Fargo to price leveraged market-linked notes tied to energy ETF

By Sarah Lizee

Olympia, Wash., July 9 – Wells Fargo Finance LLC plans to price 0% market-linked notes with leveraged upside participation to a cap and fixed percentage buffered downside due Feb. 7, 2023 linked to the Energy Select Sector SPDR fund, 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 ETF gain, capped at par plus 44% to 49%.

Investors will receive par if the ETF falls by up to 15% and will lose 1% for each 1% decline beyond 15%.

Wells Fargo Securities LLC is the agent.

The notes will price on July 31.

The Cusip number is 95001H6E6.

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