New Issue: Wells Fargo sells $2.75 million buffered enhanced return notes on S&P

By Marisa Wong

Los Angeles, March 27 – Wells Fargo Finance LLC priced $2.75 million of 0% buffered enhanced return securities with capped upside and buffered downside due April 21, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index’s final level is greater than the initial level, the payout at maturity will be par plus 150% of the index return, subject to a maximum settlement amount of $1,294.90 per $1,000 principal amount of notes. Investors will receive par if the index declines by 10% or less and will lose 1.1111% for every 1% that it may decline beyond 10%.

The notes are guaranteed by Wells Fargo & Co.

Wells Fargo Securities LLC is the agent.

Issuer:	Wells Fargo Finance LLC
Guarantor:	Wells Fargo & Co.
Issue:	Buffered enhanced return securities with capped upside and buffered downside
Underlying index:	S&P 500
Amount:	$2.75 million
Maturity:	April 21, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If index’s final level is greater than initial level, par plus 150% of index return, subject to maximum settlement amount of $1,294.90 per $1,000 principal amount of notes; par if index declines by 10% or less; 1.1111% loss for every 1% that index may decline beyond 10%
Initial level:	2,398.10
Buffer level:	2,158.29, or 90% of initial level
Pricing date:	March 18
Settlement date:	March 25
Agent:	Wells Fargo Securities, LLC
Fees:	0.95%
Cusip:	95001HH87

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