New Issue: Wells Fargo sells $701,000 capped leveraged market-linked notes on S&P

By Sarah Lizee

Olympia, Wash., Nov. 30 – Wells Fargo & Co. priced $701,000 of 0% market linked securities – leveraged upside participation to a cap and fixed percentage buffered downside due Nov. 30, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 150% of any gain in the index up to a maximum payout of par plus 18%. If the index falls but not below its 90% buffer, the payout will be par. Investors will be exposed to any losses beyond the 10% buffer.

Wells Fargo Securities, LLC is the agent.

Issuer:	Wells Fargo & Co.
Issue:	Market linked securities – leveraged upside participation to a cap and fixed percentage buffered downside
Underlying index:	S&P 500
Amount:	$701,000
Maturity:	Nov. 30, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 150% of any gain index up to maximum of par plus 18%; par if index falls by up to 10%; 1% loss for every 1% decline beyond 10%
Initial level:	2,682.20
Buffer level:	2,413.98, 90% of initial level
Pricing date:	Nov. 27
Settlement date:	Nov. 30
Agent:	Wells Fargo Securities LLC
Fees:	2.75%
Cusip:	95001BAT1

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