By Angela McDaniels
Tacoma, Wash., Oct. 31 – Wells Fargo & Co. priced $34 million of 0.25% equity-linked securities due Nov. 6, 2023 linked to the common stock of Western Digital Corp., according to an FWP filing with the Securities and Exchange Commission.
Interest is payable semiannually.
Beginning Nov. 6, 2019, the notes are callable at any time at a redemption price equal to the greater of par of $1,000 and parity.
On any trading day, parity equals the share ratio, 12.1957, multiplied by the closing share price on that day. Parity on the pricing date was $729.92. The share ratio is equal to parity on the pricing date divided by the initial share price.
The payout at maturity will be the greater of par and parity.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Equity-linked notes
|
| Underlying stock: | Western Digital Corp.
|
| Amount: | $34 million
|
| Maturity: | Nov. 6, 2023
|
| Coupon: | 0.25%, payable semiannually
|
| Price: | Par of $1,000
|
| Parity: | On any trading day, parity equals 12.1957 multiplied by closing share price on that day
|
| Payout at maturity: | Par or parity, whichever is greater
|
| Initial share price: | $59.851, based on intra-day price of underlying stock on pricing date
|
| Pricing date: | Oct. 28
|
| Settlement date: | Nov. 4
|
| Underwriter: | Wells Fargo Securities LLC
|
| Fees: | None
|
| Cusip: | 94986RZ79
|
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