By Wendy Van Sickle
Columbus, Ohio, Jan. 4 – Wells Fargo & Co. priced $1.12 million of 0% autocallable market-linked securities with fixed percentage buffered downside due Jan. 6, 2020 linked to the Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a premium of 7.2% per year if the fund closes at or above its initial level on any annual call date.
If the notes are not called on or before the final calculation date, the payout at maturity will be par if the fund falls by up to 10%. Otherwise, investors will lose 1% for every 1% that the fund falls beyond 10%.
Wells Fargo Securities LLC is the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Autocallable market-linked securities with fixed percentage buffered downside
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| Underlying fund: | Financial Select Sector SPDR fund
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| Amount: | $1,115,000
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| Maturity: | Jan. 6, 2020
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If final fund level falls by up to 10%, par; otherwise, 1% loss for every 1% that final fund level falls by more than 10%
|
| Call: | Automatically at par plus a 7.2% annual premium if fund closes at or above initial level on any annual call date
|
| Initial level: | $23.20
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| Threshold level: | $20.88, 90% of initial level
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| Pricing date: | Dec. 29
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| Settlement date: | Jan. 4
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| Agent: | Wells Fargo Securities LLC
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| Fees: | 1.825%
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| Cusip: | 94986R2T7
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