Wells Fargo to price contingent fixed return notes on three ETFs

By Sarah Lizee

Olympia, Wash., Aug. 26 – Wells Fargo Finance LLC plans to price 0% market-linked securities with contingent fixed return and contingent downside due Sept. 10, 2020 linked to the SPDR S&P Oil & Gas Exploration & Production ETF, the SPDR S&P Retail ETF and the SPDR S&P Biotech ETF, according to a 424B2 filed with the Securities and Exchange Commission.

The notes will be guaranteed by Wells Fargo & Co.

If each ETF finishes flat, increases or falls by up to 40%, the payout at maturity will be par plus 12.7%.

Otherwise, investors will be fully exposed to the decline of the least performing ETF from its initial level.

Wells Fargo Securities, LLC is the agent.

The notes will price on Aug. 28.

The Cusip number is 95001HA84.

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