By Wendy Van Sickle
Columbus, Ohio, Sept. 6 – Wells Fargo & Co. priced $3.68 million of 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Sept. 7, 2022 linked to a basket of four exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket components are the SPDR S&P 500 ETF trust with a 45% weight, iShares Russell 2000 ETF with a 20% weight, iShares MSCI EAFE ETF with a 20% weight and the iShares MSCI Emerging Markets ETF with a 15% weight.
The payout at maturity will be par plus 150% of any basket gain, subject to a maximum payout of par plus 44%.
Investors will receive par if the basket falls by up to 30% and will lose 1% for every 1% decline if the basket falls by more than 15%.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo & Co.
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| Issue: | Market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside
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| Underlying ETFs: | SPDR S&P 500 (45% weight), iShares Russell 2000 (20% weight), iShares MSCI EAFE (20% weight), iShares MSCI Emerging Markets (15% weight)
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| Amount: | $3.68 million
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| Maturity: | Sept. 7, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 150% of any basket gain, capped at par plus 44%; par if the basket falls by up to 30%; 1% loss for every 1% decline if basket falls by more than 30%
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| Initial levels: | $290.30 for SPDR S&P 500, $172.36 for iShares Russell 2000, $67.88 for iShares MSCI EAFE, $42.95 for iShares MSCI Emerging Markets
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| Pricing date: | Aug. 30
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| Settlement date: | Sept. 7
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| Agent: | Wells Fargo Securities LLC
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| Fees: | 2.325%
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| Cusip: | 95001B5T7
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