Every 424B that Wells Fargo & Co. (WFC) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow WFC and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full WFC filings page.
WELLS FARGO & COMPANY/MN (WFC) is guaranteeing a new Wells Fargo Finance LLC Series B medium‑term structured note, the “Buffered Enhanced Return Securities,” linked to the S&P 500® Index. Each security has a $1,000 face amount, no interest payments, and a maturity expected about 24–27 months after pricing.
At maturity, holders receive enhanced upside of 130% of any positive S&P 500® return, capped at a maximum settlement amount expected between $1,250.90 and $1,295.10 per $1,000. A 12.50% buffer protects against modest declines; below 87.50% of the initial index level, losses accelerate at about 1.1429% of principal for each additional 1% index drop, up to total loss. The preliminary estimated value is about $996.90 per security (not less than $966.90 at pricing), and the notes are unsecured, unsubordinated obligations of Wells Fargo Finance LLC, fully and unconditionally guaranteed by WFC, with no listing and no assurance of a secondary market.
WELLS FARGO & COMPANY/MN (as guarantor) is backing a new issuance of equity index-linked Medium-Term Notes, Series B, by Wells Fargo Finance LLC, tied to the S&P 500® Index and maturing on October 8, 2027. Each security has a $1,000 face amount and offers a contingent fixed return of 12.67% (a maximum payoff of $1,126.70 per security) if the index ending value is at or above its starting value of 7,728.20.
A 10% buffer amount protects principal only if the index decline is no more than that level; below the 90% threshold value of 6,955.38, investors have 1‑to‑1 downside exposure and may lose up to 90% of principal. The notes pay no periodic interest or dividends, are not listed on any exchange, and are subject to the credit risk of Wells Fargo Finance LLC and Wells Fargo & Company. The original offering totals $4,000,000, with a $1 agent discount per $1,000 security. The current estimated value is $998.74 per security, reflecting selling, structuring, hedging and funding costs that reduce economic value versus par.
WELLS FARGO & COMPANY (WFC), through Wells Fargo Finance LLC, is offering S&P 500-linked market-linked notes (Medium-Term Notes, Series B) due October 8, 2027. Each security has a $1,000 face amount and pays no interest or dividends.
At maturity, investors receive $1,000 plus 200% of any S&P 500® increase, capped at a maximum return of 14.40% (maximum payoff $1,144 per security). A 10% buffer protects against moderate declines; below a 10% drop, principal losses match further S&P 500 declines, up to a 90% loss of face amount.
The notes are unsecured obligations of Wells Fargo Finance LLC, fully and unconditionally guaranteed by WFC, and are subject to their credit risk. The estimated value is $998.35 per $1,000 security, below the issue price, based on Wells Fargo Securities’ proprietary models. The total offering is $4,000,000. The securities are not FDIC insured, will not be listed on an exchange, and secondary market liquidity and pricing are uncertain.
WELLS FARGO & COMPANY/MN (symbol: WFC) is the issuer of record for a Form 424B2 filing submitted to the SEC.
WELLS FARGO & COMPANY (WFC), via Wells Fargo Finance LLC, is issuing $11,816,000 of Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100 Index, Russell 2000 Index and S&P 500 Index, maturing on May 15, 2030, and fully and unconditionally guaranteed by WFC.
The notes pay a 12.00% per annum contingent coupon (0.30 per $10 note per quarter) only if on every eligible trading day in the quarter each index stays at or above its coupon barrier set at 70% of its initial value. Wells Fargo may redeem the notes quarterly, beginning about six months after settlement, at par plus any due coupon, after which no further payments occur.
If not called and on the final valuation date each index is at or above its downside threshold of 60% of initial, investors receive principal back plus any final coupon. If any index finishes below its downside threshold, repayment is reduced one-for-one with the negative return of the worst-performing index, down to total loss. The notes are unsecured, not listed, have an original offering price of $10.00, with an estimated value of $9.77 per note and net proceeds to the issuer of $9.90 per note after a $0.10 agent discount.
Wells Fargo & Company (WFC), via Wells Fargo Finance LLC, is offering Series B market-linked notes that are fully and unconditionally guaranteed by WFC and linked to the lowest performing of the Dow Jones Industrial Average and the S&P 500 Index, maturing on August 14, 2031. The notes have a $1,000 face amount, no interest payments, and no principal protection. At maturity, holders receive: (i) $1,000 plus 140.50% of any positive return of the worst-performing index; (ii) $1,000 if the worst index is flat or down by up to 30%; or (iii) $1,000 plus the full index return (loss) if the worst index falls more than 30%, meaning losses can exceed 30% and reach 100% of principal. The starting values are 53,791.85 for the Dow and 7,728.20 for the S&P 500, with threshold values set at 70% of those levels. The total offering is $2,151,000 at $1,000 per note, with a maximum agent discount of $10 per note and net proceeds of $990 per note to Wells Fargo Finance LLC. The estimated value, based on Wells Fargo Securities’ proprietary models, is $1,027.15 per note. The notes are unsecured obligations subject to the credit risk of Wells Fargo Finance LLC and WFC, are not listed on any exchange, and may have limited or no secondary market liquidity.
WELLS FARGO & COMPANY (symbol WFC), through issuer Wells Fargo Finance LLC, is offering equity index-linked Medium-Term Notes, Series B, fully and unconditionally guaranteed by WFC. These market-linked securities are tied to the S&P 500® Index and are designed to be held to maturity on October 8, 2027.
Each security has a $1,000 face amount and pays no interest. At maturity, if the S&P 500 ending value is at or above the starting value of 7,728.20, investors receive $1,000 plus a contingent fixed return of at least 12.67% (at least $126.70). If the index is down but not below the threshold value of 6,955.38 (a 10% buffer), investors receive their $1,000 principal.
If the S&P 500 falls more than 10%, investors have 1‑to‑1 downside exposure beyond the buffer and may lose up to 90% of principal. The notes are unsecured obligations subject to the credit risk of Wells Fargo Finance LLC and WFC, are not listed on an exchange, and may have limited or no secondary market. The initial estimated value is about $996.70 per $1,000 security and will not be less than $966.70 on the pricing date, reflecting embedded selling, structuring and hedging costs.
Wells Fargo & Company (WFC), through Wells Fargo Finance LLC, is offering equity index linked Medium-Term Notes, Series B, tied to the S&P 500® Index. Each $1,000 security pays no interest and returns at maturity depend on index performance between a starting value of 7,728.20 and the ending value.
Investors receive 200% of any positive index return, capped at a maximum return of at least 14.40%, so the maximum maturity payment is at least $1,144 per security. A 10% buffer protects against moderate declines: if the index falls up to 10%, principal is returned; below that, losses are 1-to-1 beyond the buffer, with up to 90% of principal at risk.
The notes mature on October 8, 2027, are unsecured obligations of Wells Fargo Finance LLC guaranteed by Wells Fargo & Company, and are subject to their credit risk. They are not listed on any exchange and are designed to be held to maturity. The current estimated value is about $996.80 per $1,000 security, and will not be less than $966.80 on the pricing date, reflecting structuring and hedging costs.
Wells Fargo & Company (WFC), through Wells Fargo Finance LLC, is offering principal-at-risk Medium-Term Notes, Series B, linked to the S&P 500® Index. These Buffered Enhanced Return Securities have a term of about 27–30 months and pay no interest.
At maturity, for each $1,000 note, investors receive: full principal plus 130% of any positive index return, capped at a maximum settlement between $1,280.93 and $1,330.46; $1,000 if the index decline is up to 15.00%; or a leveraged loss of about 1.1765% of principal for each 1% decline beyond the 15% buffer, potentially losing all principal.
The notes are unsecured obligations of Wells Fargo Finance LLC, fully and unconditionally guaranteed by WFC, and all payments depend on their credit. The preliminary estimated value is about $996.60 per $1,000 note, and will not be less than $966.60 on the trade date. The notes will not be listed, may have limited liquidity, and involve complex payoff and tax characteristics.
Wells Fargo Finance LLC is offering Market Linked Securities, auto-callable notes due August 30, 2029, linked to the common stock of GE Vernova Inc. The notes pay a quarterly contingent coupon only if the Underlier’s closing value on the relevant calculation day is at least the coupon threshold value, set at 50% of the starting value, with a contingent coupon rate of at least 15.00% per annum and a memory feature for missed coupons.
From February 2027 through May 2029, if the Underlier’s closing value on any calculation day is at or above the starting value, the notes are automatically called for the face amount plus the applicable coupon and any unpaid coupons. If not called, principal is repaid in full only if the final Underlier value is at or above the downside threshold, also 50% of the starting value; below that level investors lose more than 50%, up to all, of principal and still do not participate in any Underlier upside or dividends. The original offering price is $1,000 per security (or $975 in fee-based accounts), with up to $25 per security agent discount and proceeds of $975 per security to the issuer. The current estimated value is approximately $957.30 per security and will not be less than $920.00 on the pricing date. The notes are unsecured obligations of Wells Fargo Finance LLC, fully and unconditionally guaranteed by Wells Fargo & Company, are not exchange listed, and are designed to be held to maturity or automatic call.
Wells Fargo Finance LLC, fully guaranteed by Wells Fargo & Company, is issuing market-linked, auto-callable notes tied to the common stock of Uber Technologies, Inc. Each security has a $1,000 face amount and matures on August 10, 2029, unless automatically called earlier.
Investors may receive a 13.60% per annum contingent coupon, paid quarterly, only if Uber’s closing value on the relevant calculation day is at least the coupon threshold, set at 75% of the $75.02 starting value (that is, $56.265). Missed coupons can be “remembered” and paid later if the threshold is met on a subsequent calculation day.
From February 2027 through May 2029, if Uber’s closing value on a calculation day is at or above the starting value, the notes are automatically called for $1,000 plus the applicable coupon(s). If not called, principal is protected only if the final Uber price is at or above the downside threshold (also 75% of the starting value). Below that level, repayment falls in proportion to Uber’s decline, with the potential to lose most or all principal. The notes do not participate in any upside of Uber stock and pay no dividends. The notes are unsecured, subject to Wells Fargo’s and the guarantor’s credit risk, not listed on any exchange, and have an estimated value of $961.87 per $1,000, below the issue price due to selling, structuring and hedging costs.
Wells Fargo Finance LLC is issuing Market Linked Securities tied to the common stock of Axon Enterprise, Inc. (AXON), fully and unconditionally guaranteed by Wells Fargo & Company. These three-year notes, due August 10, 2029, are auto-callable and pay contingent rather than fixed interest, with repayment of principal dependent on Axon’s share performance.
The notes offer a quarterly contingent coupon of 19.60% per annum if, and only if, Axon’s closing price on each calculation day is at or above the coupon threshold, set at 50% of the starting value. Missed coupons feature a memory mechanism and are paid later if the threshold is subsequently met. Automatic call can occur quarterly from February 2027 to May 2029 if Axon’s price is at or above the starting value, returning face amount plus all due coupons. If not called, principal is protected only down to a downside threshold equal to 50% of the starting value: if Axon ends below this level, investors are fully exposed to further declines and can lose more than 50%, up to all, of principal. Investors do not receive dividends or upside beyond coupons, all payments are subject to Wells Fargo’s and the guarantor’s credit risk, and there is no exchange listing, so liquidity may be limited.
Wells Fargo Finance LLC is offering market-linked notes tied to the lowest performing of the Dow Jones Industrial Average, Russell 2000 Index, and S&P 500 Index, due August 12, 2031. Each security has a $1,000 face amount and pays a quarterly contingent coupon at 9.90% per annum only if, on the relevant calculation day, the lowest performing index is at or above its coupon threshold of 70% of its starting value. Wells Fargo may redeem the notes in whole on any quarterly redemption date beginning around February 2027, paying face amount plus any due coupon. If not redeemed, principal repayment depends on the final level of the lowest performing index: investors receive $1,000 only if it is at or above its downside threshold of 60% of its starting value; otherwise the maturity payment equals $1,000 multiplied by that index’s performance factor, exposing holders to losses greater than 40% and up to 100% of principal. The notes do not participate in any index upside, pay no dividends, are unsecured obligations guaranteed by Wells Fargo & Company, and have an estimated value of $980.70 per $1,000 at pricing.
Wells Fargo Finance LLC is offering Trigger Callable Contingent Yield Notes, guaranteed by Wells Fargo & Company, linked to the worst-performing of the Nasdaq-100 Index, Russell 2000 Index and S&P 500 Index. The Notes have an Original Offering Price of $10 per Note and a term of approximately 3.75 years, maturing on May 15, 2030, with Trade Date August 12, 2026 and Settlement Date August 14, 2026.
Investors may receive a contingent quarterly coupon at a rate of at least 11.90% per annum (at least $0.2975 per Note per quarter) only if on every eligible trading day in the Observation Period the closing value of each index is at or above its Coupon Barrier, set at 70% of its Initial Underlier Value. The issuer may redeem the Notes in whole, at its option, on quarterly Optional Redemption Dates beginning about six months after issuance, paying principal plus any due coupon.
If not redeemed early, and on the Final Valuation Date each index is at or above its Downside Threshold of 60% of Initial Underlier Value, principal is repaid plus any final coupon. If any index is below its Downside Threshold, repayment is reduced so that the loss equals the negative return of the Least Performing Underlier, up to a total loss of principal. The Notes are unsecured, subject to the credit risk of Wells Fargo Finance LLC and Wells Fargo & Company, not listed on any exchange, and not insured by the FDIC. The current estimated value is approximately $9.79 per Note, and in no event will it be less than $9.49 per Note on the Trade Date, versus the $10 Original Offering Price.
Wells Fargo Finance LLC is issuing $8,124,650 of Trigger Autocallable Contingent Yield Notes, fully and unconditionally guaranteed by Wells Fargo & Company, linked to the least performing of the S&P 500® Index and the EURO STOXX 50® Index. Each Note has a $10 Principal Amount and offers a 10.50% per annum Contingent Coupon, paid quarterly only if both indices on the observation date are at or above their respective Coupon Barriers.
The Initial Underlier Values are 7,757.64 for the S&P 500 and 6,523.86 for the EURO STOXX 50, with Coupon Barriers and Downside Thresholds at 70% of those levels. The Notes may be automatically called quarterly (starting about six months after settlement) if both indices are at or above their Initial Underlier Values, returning principal plus the applicable coupon. If not called, and on the Final Valuation Date (August 7, 2031) either index finishes below its Downside Threshold, repayment is reduced dollar‑for‑dollar with the negative return of the Least Performing Underlier, up to a 100% loss of principal. The estimated value is $9.81 per Note, below the $10 offering price, and the Notes are unsecured, unsubordinated obligations subject to the credit risk of the Issuer and Guarantor and are not exchange‑listed.
Wells Fargo Finance LLC, fully guaranteed by Wells Fargo & Company, is offering $21,509,210 of Trigger Autocallable Contingent Yield Notes linked to the least performing of the S&P 500 Index and the EURO STOXX 50 Index. The Notes pay a quarterly Contingent Coupon at 8.00% per annum only if each index closes at or above its Coupon Barrier on the related observation date; otherwise no coupon is paid. The Notes may be automatically called quarterly (starting about six months after settlement) if each index is at or above its Initial Underlier Value, in which case investors receive principal plus the applicable coupon and the Notes terminate early. If not called, and on the Final Valuation Date each index is at or above 70% of its initial level, principal is repaid plus any final coupon; if any index is below 70%, repayment is reduced one-for-one with the negative return of the worst-performing index, up to total loss of principal. The Notes are unsecured, not listed, have an estimated value of $9.59 per $10 Note, and all payments are subject to the credit risk of the issuer and guarantor.
Wells Fargo Finance LLC is offering $600,000 of Market Linked, auto-callable notes linked to the common stock of Uber Technologies, Inc., fully and unconditionally guaranteed by Wells Fargo & Company. Each security has a $1,000 face amount and a term to August 10, 2029, subject to automatic call.
The notes pay a quarterly contingent coupon of 13.60% per annum only if Uber’s closing value on the related calculation day is at or above the coupon threshold, set at 75% of the starting value. Missed coupons have a “memory” feature and may be paid later if the threshold is met. From February 2027 to May 2029, the notes are automatically called if Uber’s closing value is at or above the starting value.
If not called, principal is protected only if Uber’s final value is at or above the downside threshold, also 75% of the starting value of $75.02 (threshold $56.265). Below that level at maturity, investors lose more than 25% and up to all principal. The current estimated value is $961.87 per security, below the $1,000 offering price, reflecting selling, structuring and hedging costs. Payments depend on the credit of Wells Fargo Finance LLC and Wells Fargo & Company, and the securities are not listed and may have limited or no secondary market.
Wells Fargo Finance LLC, fully guaranteed by Wells Fargo & Company, is offering market-linked, auto-callable, contingent coupon notes tied to Morgan Stanley common stock maturing August 10, 2029. Each security has a $1,000 face amount and an original offering price of $1,000 (or $976.50 in fee-based advisory accounts).
The notes pay a contingent coupon of 11.20% per annum, quarterly, only if the Underlier’s closing value on the relevant calculation day is at or above the coupon threshold of $151.431, which is 70% of the starting value of $216.33. Missed coupons feature a “memory” so they are paid later if a subsequent calculation day meets the threshold. From February 2027 through May 2029, the notes are automatically called if the Underlier closes at or above the starting value, returning face amount plus the due and previously unpaid coupons.
If not called, principal at maturity is protected only down to the downside threshold of $151.431. If the final Underlier value is at or above that level, investors receive $1,000 per security; if below, repayment is reduced linearly as $1,000 × (ending value ÷ starting value), exposing investors to losses greater than 30% and potentially 100%. Investors do not participate in any upside of the stock and receive no dividends. All payments are unsecured and subject to the credit risk of Wells Fargo Finance LLC and Wells Fargo & Company. The estimated value is $964.57 per security, below the public offering price due to selling, structuring, hedging and funding costs.
Wells Fargo Finance LLC, fully guaranteed by Wells Fargo & Company, is offering market-linked Medium-Term Notes, Series B that are auto-callable, pay a contingent coupon, and expose principal to equity market risk through the lowest performing of three underliers: the iShares MSCI EAFE ETF, the Russell 2000 Index, and the S&P 500 Index.
Each security has a $1,000 face amount, a term running from an expected issue date of August 19, 2026 to a stated maturity of August 19, 2031, and may be automatically called quarterly from February 2027 to May 2031 if the lowest performing underlier is at or above its starting value, in which case investors receive $1,000 plus a final contingent coupon. Quarterly contingent coupons, at a rate to be set on the pricing date but at least 10.50% per annum, are paid only when the lowest performing underlier’s closing value is at or above its coupon threshold, set at 70% of its starting value.
If not called, principal repayment at maturity depends on the lowest performing underlier on the final calculation day. Investors receive $1,000 only if that underlier is at or above its downside threshold, also 70% of its starting value; below that level, repayment is $1,000 multiplied by the underlier’s performance factor, leading to losses greater than 30% and potentially all principal. The current estimated value is approximately $973.90 per security, and will not be less than $940.00 on the pricing date. Payments are unsecured, subject to the credit risk of Wells Fargo Finance LLC and Wells Fargo & Company, and the notes will not be listed, so liquidity may be limited.
Wells Fargo Finance LLC is offering market-linked, principal-at-risk notes, guaranteed by Wells Fargo & Company, linked to the lowest performing of the Dow Jones Industrial Average, Russell 2000 Index and S&P 500 Index, maturing on August 15, 2031.
Each security has a $1,000 face amount and pays a monthly contingent coupon at a rate determined on the pricing date, at least 9.05% per annum, but only if the lowest performing index on the calculation day is at or above its coupon threshold of 80% of its starting value. Missed coupons can be “remembered” and paid later if the condition is met.
The notes are auto-callable monthly from August 2027 to July 2031 if the lowest performing index is at or above its starting value, returning $1,000 plus the due and any unpaid coupons. If not called, principal is protected only down to a downside threshold of 85% of starting value; below this, repayment is reduced using a multiplier of about 1.1765, so losses accelerate and can reach a full loss of principal. The estimated value is about $982.70 per $1,000 (not less than $940.00 on the pricing date). The notes are unsecured, subject to Wells Fargo credit risk, and will not be listed.
Wells Fargo Finance LLC is offering market-linked, callable notes due August 19, 2031, fully and unconditionally guaranteed by Wells Fargo & Company. Each $1,000 security pays a monthly contingent coupon at a rate set on the pricing date, at least 11.00% per annum, but only if on each calculation day the lowest performing of the Russell 2000 Index, S&P 500 Index and State Street Utilities Select Sector SPDR ETF is at or above 70% of its starting value.
If not redeemed early, principal repayment at maturity depends on the same lowest performing Underlier: investors receive $1,000 only if its final level is at or above 65% of its starting value; otherwise, they are fully exposed to downside and can lose more than 35%, up to their entire investment. The issuer may redeem the notes monthly starting around February 2027 at par plus any due coupon, irrespective of Underlier performance. The notes are unsecured, subject to the credit risk of Wells Fargo Finance LLC and Wells Fargo & Company, will not be listed, and have an estimated initial value of about $978.90 per $1,000 security, not less than $940.00.
Wells Fargo Finance LLC is offering market-linked, auto-callable notes due August 23, 2029, fully and unconditionally guaranteed by Wells Fargo & Company. Each $1,000 note pays a quarterly contingent coupon at a rate to be set on the pricing date, at least 10.85% per annum, but only if on each calculation day the lowest performing of three underliers—the iShares Expanded Tech-Software Sector ETF, the S&P 500 Index, and the State Street Consumer Discretionary Select Sector SPDR ETF—is at or above 65% of its starting value.
From February 2027 to May 2029, if on any quarterly calculation day the lowest performing underlier is at or above its starting value, the notes are automatically called for $1,000 plus that quarter’s coupon. If not called, at maturity investors receive $1,000 only if the lowest performing underlier on the final calculation day is at or above its 65% downside threshold. Otherwise, repayment is reduced in proportion to that underlier’s decline, leading to losses of more than 35% and potentially loss of the entire principal.
The estimated value is approximately $948.90 per $1,000 note on the cover, and will not be less than $910.00 on the pricing date, reflecting selling, structuring, hedging and funding costs. The notes are unsecured, unsubordinated obligations of Wells Fargo Finance LLC, guaranteed by Wells Fargo & Company, subject to their credit risk, and will not be listed on any exchange and may have limited or no secondary market.
Wells Fargo Finance LLC is issuing equity index-linked medium-term notes with an aggregate original offering price of $6,058,000, fully and unconditionally guaranteed by Wells Fargo & Company. The notes pay a 9.90% per annum contingent coupon, payable quarterly only if the lowest performing of the Dow Jones Industrial Average, Russell 2000 Index and S&P 500 Index is at or above 70% of its starting value on the relevant calculation day.
The notes are callable quarterly at the issuer’s option beginning around February 2027 at par plus any due coupon. If not redeemed, principal repayment in 2031 depends on the lowest performing index: investors receive $1,000 only if its final level is at or above 60% of its starting value; otherwise repayment equals $1,000 multiplied by its performance factor, exposing investors to losses of more than 40%, up to a total loss. The estimated value is $978.41 per $1,000 note, and there is no exchange listing; all payments are subject to the credit risk of Wells Fargo Finance LLC and Wells Fargo & Company.
Wells Fargo Finance LLC is offering $44,000,000 of Trigger Callable Contingent Yield Notes, Series B, fully and unconditionally guaranteed by Wells Fargo & Company. The Notes are linked to the least performing of the Nasdaq-100 Index, Russell 2000 Index and S&P 500 Index and mature on February 12, 2030, unless redeemed earlier at the issuer’s option on quarterly redemption dates beginning about six months after issuance.
The Notes pay a quarterly contingent coupon at 12.75% per annum only if, on every eligible trading day in the observation period, each index stays at or above its Coupon Barrier, set at 70% of its initial level. Principal is protected at maturity only if each final index level is at or above its Downside Threshold, set at 60% of its initial level; otherwise, repayment is reduced one-for-one with the negative return of the worst index, potentially to zero. The original offering price is $10.00 per Note, with an estimated value of $9.87 per Note, and the securities are unsecured, subject to the credit risk of the issuer and guarantor, and will not be listed on an exchange.
Wells Fargo Finance LLC plans to issue market-linked notes with a $1,000 face amount per security, fully and unconditionally guaranteed by Wells Fargo & Company. The notes are linked to an unequally weighted basket of the S&P 500 Index (40%), iShares MSCI EAFE ETF (30%), Nasdaq‑100 Index (20%) and iShares MSCI Emerging Markets ETF (10%).
At maturity on August 18, 2027, investors receive: full principal plus upside at a 100% participation rate, capped at a maximum return of at least 11.30% (at least $1,113 per security); the face amount if the basket decline is within a 20% buffer; or 1‑to‑1 downside beyond the buffer, with up to an 80% loss of principal.
The preliminary estimated value is about $992 per security, not less than $960 on the pricing date, below the $1,000 offering price due to selling, structuring, hedging and funding costs. The notes pay no interest, are not listed, may have limited liquidity and are subject to the credit risk of Wells Fargo Finance LLC and Wells Fargo & Company.
Wells Fargo Finance LLC is offering market-linked medium-term notes tied to the S&P 500 Index, fully and unconditionally guaranteed by Wells Fargo & Company. Each security has a $1,000 face amount, no periodic interest, and no principal protection.
The notes may be automatically called on August 17, 2027 if the S&P 500 closing value is at or above the starting value, paying $1,000 plus a call premium of at least 9.75% (at least $97.50). If not called, at maturity on August 15, 2031 investors receive: $1,000 plus 100% upside participation if the index is above the starting value; $1,000 if the index is at or above the threshold value of 65% of the starting value; or full downside exposure (losing more than 35%, up to all principal) if the index ends below the threshold.
The preliminary estimated value is approximately $957.80 per security, and will not be less than $920.00 on the pricing date, reflecting selling, structuring, hedging and funding costs. The securities are unsecured, subject to Wells Fargo Finance LLC and Wells Fargo & Company credit risk, will not be listed on an exchange, and are designed to be held to automatic call or maturity.
Wells Fargo Finance LLC is offering market-linked, auto-callable notes due August 23, 2029, fully and unconditionally guaranteed by Wells Fargo & Company. The notes are linked to the Class A common stock of Space Exploration Technologies Corp. (SPCX) and have a $1,000 face amount per security.
Investors may receive quarterly contingent coupons at a rate of at least 20.00% per annum, but only if the Underlier’s closing value on each calculation day is at least 50% of the starting value. Missed coupons have a “memory” and are paid later if a future calculation day meets the threshold. From February 2027 to May 2029, if the Underlier is at or above the starting value on any calculation day, the notes are automatically called for the face amount plus the applicable coupon(s).
If the notes are not called, principal repayment at maturity depends on the Underlier’s final level. Investors receive $1,000 only if the ending value is at least 50% of the starting value; otherwise the payoff equals $1,000 × (ending value ÷ starting value), exposing holders to losses greater than 50% and up to a total loss of principal. The current estimated value is approximately $939.60 per security (not less than $880.00), below the $1,000 offering price, reflecting selling, structuring and hedging costs. The notes are unsecured obligations subject to Wells Fargo Finance LLC’s and Wells Fargo & Company’s credit risk and are not listed on any exchange.
Wells Fargo Finance LLC, guaranteed by Wells Fargo & Company, is offering medium-term, market-linked notes tied to the lowest performing of the Dow Jones Industrial Average, Russell 2000 Index and S&P 500 Index, maturing August 12, 2031. Each note has a $1,000 face amount and pays a quarterly contingent coupon only if the lowest performing index on the relevant calculation day is at least 70% of its starting value. The contingent coupon rate will be set on the pricing date at no less than 9.90% per annum.
Wells Fargo may redeem the notes quarterly, in whole, starting about six months after issuance, paying $1,000 plus any due coupon. If the notes are not redeemed, principal repayment at maturity depends on the final level of the lowest performing index. Investors receive $1,000 only if that index finishes at or above 60% of its starting value; otherwise the payoff is $1,000 multiplied by the index performance, creating a loss of more than 40% and up to all principal.
The notes offer no upside participation in any index and pay no dividends. All payments are subject to the credit of Wells Fargo Finance LLC and Wells Fargo & Company. The initial estimated value is about $978.20 per $1,000, and will not be less than $948.20, reflecting selling, structuring, hedging and funding costs.
Wells Fargo Finance LLC, guaranteed by Wells Fargo & Company, is offering market-linked notes with a $1,000 face amount per security linked to the common stock of Axon Enterprise, Inc. These auto-callable securities pay a contingent quarterly coupon only if Axon’s closing price stays at or above 50% of its starting value.
The starting value is $522.46, with both the coupon threshold and downside threshold set at $261.23 (50% of the starting value). The contingent coupon rate will be at least 19.60% per annum, and the notes may be automatically called quarterly from February 2027 through May 2029 if Axon is at or above the starting value, returning face amount plus due coupons.
If not called and Axon’s final price on August 7, 2029 is below the downside threshold, investors lose more than 50%, up to all, of principal based on Axon’s decline from the starting value. Investors do not participate in any upside above par, receive no dividends, and all payments are subject to the credit risk of Wells Fargo Finance LLC and Wells Fargo & Company. The original offering price is $1,000, with an agent discount of $18.25 and proceeds of $981.75 to the issuer; the current estimated value is about $950.00 per security and will not be less than $910.00 on the pricing date.
Wells Fargo Finance LLC is issuing Market Linked Securities, Series B, linked to the common stock of Axon Enterprise, Inc. Each security has a $1,000 face amount, original offering size of $1,000,000, and is fully and unconditionally guaranteed by Wells Fargo & Company. The notes are scheduled to mature on August 9, 2029, unless automatically called earlier.
Investors may receive a contingent coupon of 21.10% per annum, paid quarterly, but only if Axon’s closing price on the relevant calculation day is at or above the coupon threshold of $303.60, which is 50% of the $607.20 starting value. Missed coupons can be paid later if the underlier recovers above the threshold, via a “memory” feature. From February 2027 through May 2029, the notes are auto-callable quarterly if the closing value is at or above the starting value, returning the face amount plus all due coupons.
If the notes are not called and Axon’s final value on August 6, 2029 is at or above $303.60, investors receive $1,000 per security (plus any due coupons). If the final value is below $303.60, the maturity payment is $1,000 × (ending value/starting value), exposing holders to losses of more than 50% and possibly all principal. The estimated value on the pricing date is $960.52 per security, below the $1,000 offering price due to selling, structuring, hedging and funding costs. The securities are unsecured, subject to the credit risk of Wells Fargo Finance LLC and Wells Fargo & Company, and are not listed, so liquidity may be limited.
Wells Fargo Finance LLC is offering Market Linked Securities, fully guaranteed by Wells Fargo & Company, linked to the lowest performing of the Dow Jones Industrial Average® and the S&P 500® Index, maturing on August 14, 2031.
Each note has a $1,000 face amount, no interest payments and is designed to be held to maturity. At maturity, if the lowest performing index is above its starting level, investors receive $1,000 plus at least 140.50% of that gain. If the worst index is flat to down but not below 70% of its starting value, investors receive $1,000. Below that 70% threshold, principal is fully at risk and losses match the index decline, up to a total loss.
The original offering price is $1,000 per security, including up to a $10 agent discount, for net proceeds of $990 to the issuer per note. The current estimated value is about $979.10 per note, and will not be less than $949.10 on the pricing date. The securities are unsecured obligations subject to the credit risk of Wells Fargo Finance LLC and Wells Fargo & Company, will not be listed on an exchange, and may have limited or no secondary market liquidity.
Wells Fargo Finance LLC is offering Trigger Callable Contingent Yield Notes, Series B medium-term notes fully and unconditionally guaranteed by Wells Fargo & Company. The notes are linked to the least performing of the Nasdaq-100 Index®, Russell 2000® Index and S&P 500® Index.
Investors may receive a contingent coupon of at least 12.75% per annum, paid quarterly, but only if on every eligible trading day in the relevant quarter each index stays at or above its Coupon Barrier, set at 70% of its Initial Underlier Value. The issuer may redeem the notes quarterly, beginning about six months after settlement, paying principal plus any due coupon, after which no further payments are made.
If not redeemed early and each index finishes on the Final Valuation Date at or above its Downside Threshold of 60% of Initial Underlier Value, principal is repaid (plus any final coupon). If any index closes below its Downside Threshold, repayment is reduced dollar-for-dollar with the negative return of the Least Performing Underlier, up to a total loss of principal. The notes are unsecured, unsubordinated obligations subject to the credit risk of Wells Fargo Finance LLC and Wells Fargo & Company, will not be listed on an exchange, and have an estimated value of approximately $9.77 per $10 note, not less than $9.47.
Wells Fargo Finance LLC is offering Trigger Autocallable Contingent Yield Notes, fully and unconditionally guaranteed by Wells Fargo & Company, linked to the least performing of the S&P 500® Index and the EURO STOXX 50® Index. The Notes have a Principal Amount of $10 per Note, a term of approximately 5 years to about August 12, 2031, and may be automatically called quarterly beginning about six months after issuance if on a Call Observation Date each index closes at or above its Initial Underlier Value. If called, investors receive $10 per Note plus the applicable Contingent Coupon and no further payments.
The Notes pay a quarterly Contingent Coupon only if on the relevant Coupon Observation Date each index is at or above its Coupon Barrier, set at 70% of its Initial Underlier Value; otherwise, no coupon is paid for that quarter. If the Notes are not called and on the Final Valuation Date each index is at or above its Downside Threshold (also 70% of initial), investors receive $10 per Note plus the final coupon. If any index finishes below its Downside Threshold, repayment is reduced based on the negative return of the worst-performing index, exposing investors to a significant, potentially total, loss of principal. The Contingent Coupon Rate is expected to be between 10.50% and 11.00% per annum, and the estimated value is approximately $9.90 per Note, with a minimum of $9.60, versus an original offering price of $10. The Notes are unsecured, not listed, subject to the credit risk of the issuer and guarantor, and include complex tax and secondary market considerations.
Wells Fargo Finance LLC is offering Trigger Autocallable Contingent Yield Notes, Series B, linked to the least performing of the S&P 500 Index and the EURO STOXX 50 Index, fully and unconditionally guaranteed by Wells Fargo & Company. The Notes have a $10 Principal Amount, are offered at $10 per Note and are scheduled to mature on or about August 12, 2031, unless automatically called earlier.
Investors may receive quarterly contingent coupons at a rate of 8.00% to 8.40% per annum (about $0.20–$0.21 per quarter per Note) only if on each observation date the closing value of both indices is at or above 70% of its Initial Underlier Value (the Coupon Barrier). If on any call observation date both indices are at or above their Initial Underlier Values, the Notes are automatically called and repay principal plus that quarter’s coupon.
If the Notes are not called and, on the Final Valuation Date, the value of any index is below its 70% Downside Threshold, the maturity payment is reduced dollar‑for‑dollar with the index decline, exposing holders to a significant, potentially total loss of principal. The current estimated value is about $9.62 per Note (not less than $9.32 on the Trade Date), below the $10 offering price, reflecting selling, structuring, hedging and funding costs. The Notes are unsecured obligations subject to the credit risk of both the issuer and guarantor and will not be listed on any exchange, so liquidity may be limited.
Wells Fargo Finance LLC is issuing Market Linked Securities—Auto-Callable notes linked to the Class A common stock of CoreWeave, Inc., fully and unconditionally guaranteed by Wells Fargo & Company. Each security has a $1,000 face amount and no periodic interest or dividends.
After roughly one year, if the CoreWeave share closing value is at or above the call threshold of $43.062 (60% of the $71.77 starting value), the notes are automatically called for $1,400 per $1,000 face amount (a 40% call premium), ending the investment. If not called, at maturity in August 2029 investors get leveraged upside at a 200% participation rate if the ending value exceeds the starting value, full principal back if the stock declines up to 40%, and 1:1 downside loss beyond that, potentially losing all principal.
The total offering is $500,000. The estimated value on the pricing date is $946.07 per $1,000 security, reflecting selling, structuring, hedging and funding costs. The notes are unsecured, subject to Wells Fargo Finance LLC and Wells Fargo & Company credit risk, not listed on any exchange, and may have limited or no secondary market liquidity.
Wells Fargo Finance LLC is issuing market-linked notes tied to the Russell 2000® Index, fully and unconditionally guaranteed by Wells Fargo & Company. Each security has a $1,000 face amount, an original aggregate offering of $3,200,000, and matures on September 23, 2027.
At maturity, investors receive: (1) $1,156.30 per security (a 15.63% contingent fixed return) if the index ending value is at or above the starting value 3,036.975; (2) return of face amount if the index is down by no more than the 10% buffer (threshold value 2,733.2775); or (3) reduced principal with 1‑to‑1 downside beyond the buffer, with losses up to 90% of principal.
The notes pay no interest or dividends, are unsecured and subject to the credit risk of Wells Fargo Finance LLC and Wells Fargo & Company, and are not exchange-listed. The current estimated value is $995.36 per security, below the $1,000 offering price, reflecting selling, structuring, hedging and funding costs. Secondary market prices, if any, will be set by an affiliate using proprietary models and may be lower than the original price.
Wells Fargo Finance LLC is issuing Market Linked Securities, Medium-Term Notes, Series B, fully and unconditionally guaranteed by Wells Fargo & Company, linked to the S&P 500 Index. Each security has a $1,000 face amount, original offering price of $1,000, and total offering size of $3,200,000.
At maturity on September 23, 2027, investors receive: the face amount plus a contingent fixed return of 12.35% ($123.50) if the Index ending value is at or above the starting value; the face amount if the Index has fallen but not by more than the 10% buffer; or reduced principal with 1‑to‑1 downside beyond the buffer, with losses up to 90% of principal possible. The starting value is 7,736.52 and the threshold value is 6,962.868. The notes pay no interest, do not provide dividends or upside above the 12.35% cap, are unsecured obligations subject to Wells Fargo’s and the guarantor’s credit risk, and are not listed, so liquidity may be limited. The current estimated value is $996.66 per $1,000 security, reflecting selling, structuring, hedging and funding costs.
Wells Fargo Finance LLC, guaranteed by Wells Fargo & Company, is offering equity index-linked medium-term notes that are auto-callable with contingent coupons, linked to the worst performer of the Russell 2000® and EURO STOXX 50® indices and maturing on August 22, 2030.
Investors receive quarterly contingent coupons only if the lowest-performing index on each calculation day is at or above its coupon threshold, set at 65% of its starting value. The contingent coupon rate will be at least 8.00% per annum. If from February 2027 to May 2030 the lowest-performing index is at or above its starting value on a calculation day, the notes are automatically called at face amount plus a final coupon.
If the notes are not called and the worst index finishes below its downside threshold (65% of starting value) at final observation, principal is reduced one-for-one with the index decline, leading to losses greater than 35% and possibly a total loss. The estimated economic value is about $962 per $1,000 note (not less than $932 at pricing), below the public offering price due to embedded selling, hedging and structuring costs. The notes are unsecured obligations subject to Wells Fargo’s credit risk, will not be listed on an exchange, and may have limited or no secondary market liquidity.
Wells Fargo Finance LLC is offering Market Linked Securities (Medium-Term Notes, Series B) linked to the common stock of NVIDIA Corporation, fully and unconditionally guaranteed by Wells Fargo & Company. Each security has a $1,000 face amount and a term to August 20, 2027, subject to automatic call.
The notes pay a monthly contingent coupon at a rate of at least 16.75% per annum only if NVIDIA’s closing value on the relevant calculation day is at or above a coupon threshold equal to 70% of the starting value. From February 2027 to July 2027, if NVIDIA’s closing value on any calculation day is at or above the starting value, the notes are automatically called for the $1,000 face amount plus a final coupon.
If not called, investors receive at maturity $1,000 per security only if the final NVIDIA value is at or above a downside threshold also set at 70% of the starting value; otherwise, repayment is reduced in line with NVIDIA’s decline from the starting value, with the possibility of losing all principal. Investors do not participate in any upside of NVIDIA or receive dividends, and all payments are subject to the credit risk of Wells Fargo Finance LLC and Wells Fargo & Company. The current estimated value is about $973.70 per security, and will not be less than $940.00 on the pricing date, below the $1,000 offering price due to selling, structuring, hedging and funding costs.
Wells Fargo Finance LLC is offering unsecured market-linked notes, fully guaranteed by Wells Fargo & Company, linked to the Nasdaq-100 Index® and scheduled to mature on September 3, 2030. Each security has a $1,000 face amount, pays no interest and may be automatically called early.
If on any call date from 2027–2030 the index closing value is at or above its starting value, the notes are automatically called for $1,000 plus a call premium of at least 10.65%, 21.30%, 31.95% or 42.60%, depending on the call year. If not called, at maturity investors receive $1,000 if the index has fallen by no more than the 10% buffer; below that level, repayment is reduced 1-for-1 with index losses beyond the buffer, down to as little as $100.
The issuer quotes a current estimated value of about $963.10 per $1,000 security (and not less than $930.00 on the pricing date), reflecting selling, structuring, hedging and funding costs. The notes are not listed, may have limited liquidity, and all payments are subject to the credit risk of Wells Fargo Finance LLC and Wells Fargo & Company.
Wells Fargo Finance LLC is offering Market Linked Securities, Series B medium‑term notes, linked to the common stock of Axon Enterprise, Inc. Each note has a $1,000 face amount, pays a contingent quarterly coupon only if Axon’s closing price on the relevant calculation day is at or above the coupon threshold, and may be automatically called if Axon is at or above the starting value on specified dates from February 2027 to May 2029.
The starting value of Axon is $607.20, with both the coupon threshold and downside threshold set at 50% of that level ($303.60). The contingent coupon rate will be set on the pricing date and will be at least 21.10% per annum, paid only when the threshold is met, with a “memory” feature that can make up missed coupons later. If the notes are not called and Axon finishes below the downside threshold on the final calculation day in August 2029, investors receive $1,000 × (ending value/starting value) and can lose more than 50%, up to their entire principal; if Axon finishes at or above the downside threshold, principal is repaid but no upside on Axon is paid.
The securities are unsecured obligations of Wells Fargo Finance LLC, fully and unconditionally guaranteed by Wells Fargo & Company, and are subject to their credit risk. They will not be listed on any exchange and are designed to be held to automatic call or the stated maturity date of August 9, 2029. The current estimated value is approximately $953.10 per $1,000 note and will not be less than $900 on the pricing date, reflecting selling, structuring, hedging and funding costs borne by investors.
Wells Fargo Finance LLC is offering auto-callable, equity index-linked notes tied to the S&P 500 Index, fully and unconditionally guaranteed by Wells Fargo & Company. Each security has a $1,000 face amount, no interest, no dividends and no exchange listing.
The notes may be automatically called on annual call dates through August 28, 2030 if the S&P 500 closing value is at or above the starting value, paying at least 8.00%, 16.00%, 24.00% or 32.00% of face amount depending on the call year. If not called, principal is protected only by a 7.50% buffer: you receive $1,000 at maturity if the index is down by no more than 7.50%, but lose 1% of principal for every 1% decline beyond that, up to a 92.50% loss. The preliminary estimated value is $961.40 per $1,000 (not less than $930.00 on pricing), reflecting selling, structuring, hedging and funding costs, and all payments are subject to the credit risk of Wells Fargo Finance LLC and Wells Fargo & Company.
Wells Fargo Finance LLC is offering market-linked, auto-callable notes due August 17, 2029, linked to the worst performer of Amazon, Meta and NVIDIA stock. The notes pay a monthly contingent coupon at a rate to be set on the pricing date, at least 13.00% per annum, but only if the lowest performing underlier on each calculation day is at or above 50% of its starting value, with a “memory” feature that can make up missed coupons later.
From February 2027 to July 2029, if the lowest performer is at or above 95% of its starting value on a calculation day, the notes are automatically called at par plus the applicable coupon and any unpaid coupons. If not called, at maturity investors receive $1,000 per note only if the lowest performer is at or above 50% of its starting value; otherwise they are fully exposed to the decline from the starting value and can lose more than 50%, up to all principal, and never participate in any upside of the stocks.
The notes are unsecured obligations of Wells Fargo Finance LLC, fully and unconditionally guaranteed by Wells Fargo & Company, with all payments subject to their credit risk. The original offering price is $1,000 per security, with an agent discount of $18.25 and issuer proceeds of $981.75 per security. The current estimated value is approximately $958.50 per security and will not be less than $920.00 on the pricing date.
Wells Fargo Finance LLC is issuing market-linked notes tied to the S&P 500® Index, fully and unconditionally guaranteed by Wells Fargo & Company. Each security has a $1,000 face amount, no periodic interest, no dividends, and matures on September 23, 2027.
At maturity, if the index ending value is at or above the starting value of 7,736.52, investors receive $1,000 plus a contingent fixed return of at least 12.35% (at least $123.50). If the index declines but stays at or above the 10% buffer level (threshold value 6,962.868), investors receive the $1,000 face amount. Below the threshold, investors have 1-to-1 downside exposure beyond the 10% buffer and may lose up to 90% of principal.
The preliminary estimated value is approximately $997 per security and will not be less than $967 on the pricing date, reflecting selling, structuring, hedging and funding costs, so secondary market values are expected to be below the $1,000 issue price. The notes are unsecured obligations subject to the credit risk of Wells Fargo Finance LLC and Wells Fargo & Company, will not be listed on an exchange, and may have limited or no secondary market liquidity.
Wells Fargo Finance LLC is offering Medium-Term Notes, Series B that are equity index-linked and fully and unconditionally guaranteed by Wells Fargo & Company. These callable securities, due August 11, 2031, are linked to the worst-performing of the Dow Jones Industrial Average, Russell 2000 Index and S&P 500 Index.
Investors receive quarterly contingent coupons at a rate of at least 9.90% per annum only if, on each calculation day, the lowest-performing index is at or above 70% of its starting value. Principal is protected at maturity only if the worst index is at or above 60% of its starting value; otherwise, investors lose more than 40%, up to the entire $1,000 face amount per security.
Wells Fargo may redeem the notes quarterly starting about six months after issuance at par plus any due coupon, which can cap income if markets are favorable. The notes are unsecured, subject to the credit risk of the issuer and guarantor, have an estimated value of about $978.50 per security (not less than $948.50 at pricing), and will not be listed, implying limited liquidity and potentially discounted secondary prices.
Wells Fargo Finance LLC is offering market-linked, principal-at-risk notes linked to the Russell 2000® Index, fully and unconditionally guaranteed by Wells Fargo & Company. Each security has a $1,000 face amount, no interest payments, and no listing, and is designed to be held to maturity on September 23, 2027.
At maturity, the cash payment per security depends on index performance from the starting value 3,036.975 to the ending value. If the index is at or above the starting value, investors receive $1,000 plus a contingent fixed return of at least 15.63% ($156.30). If the index is down but not below the 90% threshold (10% buffer), investors receive $1,000. If it falls below the threshold, repayment is reduced 1‑for‑1 beyond the 10% buffer, with up to a 90% loss of principal possible. The current estimated value is $997.10 per security (not less than $967.00 on the pricing date), reflecting selling, structuring, hedging and funding costs, and secondary market prices, if any, are expected to be below the original offering price.
Wells Fargo Finance LLC, fully guaranteed by Wells Fargo & Company, is issuing equity index and ETF–linked Medium-Term Notes, Series B, tied to the lowest performing of the Russell 2000 Index, S&P 500 Index and State Street Utilities Select Sector SPDR ETF. The notes pay a contingent coupon of 11.10% per annum, payable monthly only if on each calculation day the lowest performing underlier is at or above its coupon threshold value, set at 70% of its starting value.
The securities are callable at the issuer’s option on monthly dates starting about six months after issuance; if called, investors receive the $1,000 face amount plus any due coupon. If not redeemed, at maturity on August 7, 2031 investors receive $1,000 only if the lowest performing underlier on the final calculation day is at or above its downside threshold value, set at 65% of starting value. Otherwise, repayment is $1,000 multiplied by that underlier’s performance factor, exposing holders to losses of more than 35% and potentially all principal.
The original offering price is $1,000 per security in a $1.5 million issuance, with an estimated value of $980.28 per note based on Wells Fargo Securities’ proprietary models, reflecting embedded costs and issuer funding economics. The notes are unsecured obligations subject to the credit risk of Wells Fargo Finance LLC and Wells Fargo & Company, pay no dividends, are not FDIC insured and are not listed on any exchange, and may be difficult to sell before maturity.
Wells Fargo Finance LLC is planning to issue unsecured medium‑term market‑linked notes, fully and unconditionally guaranteed by Wells Fargo & Company, that are linked to the lowest performing of the Russell 2000® Index, the S&P 500® Index and the State Street® Utilities Select Sector SPDR® ETF. The notes pay a monthly contingent coupon only if, on the relevant calculation day, the lowest performing underlier is at or above its coupon threshold, set at 70% of its starting value. The contingent coupon rate will be at least 11.10% per annum.
If the notes are not called and, on the final calculation day, the lowest performing underlier is at or above its downside threshold, set at 65% of its starting value, investors receive the $1,000 face amount at maturity; otherwise repayment is reduced in proportion to the underlier’s decline, with losses of more than 35% and up to all principal possible. Wells Fargo may redeem the notes monthly beginning around January 2027 at face value plus any due coupon. The original offering price is $1,000 per note, including up to $7.50 agent discount, while the estimated value is about $975 per note and in no event below $945, reflecting selling, structuring and hedging costs. The notes are subject to Wells Fargo credit risk, are not insured, will not be listed on an exchange and may have limited or no secondary market.
Wells Fargo Finance LLC is offering Market Linked Securities, Series B medium-term notes, fully and unconditionally guaranteed by Wells Fargo & Company, that are linked to the lowest performing of the Dow Jones Industrial Average, Nasdaq‑100 Index and S&P 500 Index and mature on August 1, 2030. Each security has a $1,000 face amount and pays quarterly contingent coupons at a rate set on the pricing date, expected to be at least 11.10% per annum, but only if on the relevant calculation day the lowest performing index is at or above 65% of its starting value. From January 2027 through April 2030, if on any calculation day the lowest performing index is at or above its starting value, the notes are automatically called for $1,000 plus the applicable coupon. If not called, principal is protected only if, on the final calculation day, the lowest performing index is at or above 65% of its starting value; otherwise, investors are fully exposed to the decline of that index and may lose more than 35%, up to all, of principal. The notes are unsecured obligations subject to the credit risk of Wells Fargo Finance LLC and Wells Fargo & Company and are not listed on any exchange. The preliminary estimated value is about $983.50 per $1,000 security, and will not be less than $953.00 on the pricing date.
Wells Fargo Finance LLC is offering equity index-linked, auto-callable Medium-Term Notes, fully guaranteed by Wells Fargo & Company, linked to the lowest performing of the Dow Jones Industrial Average, Nasdaq-100 Index and S&P 500 Index, maturing August 1, 2030. Each security has a $1,000 face amount and pays a quarterly contingent coupon only if the lowest performing index on the relevant calculation day is at or above its coupon threshold, set at 65% of its starting value. The contingent coupon rate will be at least 11.10% per annum.
From January 2027 through April 2030, if the lowest performing index on a calculation day is at or above its starting value, the notes are automatically called for $1,000 plus a final coupon. If not called, at maturity holders receive $1,000 only if the lowest performing index is at or above its downside threshold, also 65% of its starting value; otherwise repayment is reduced one-for-one with the index decline, potentially to zero. Investors do not participate in any upside of the indices and receive no dividends. The current estimated value is about $983.50 per $1,000 security, and all payments are subject to the credit risk of Wells Fargo Finance LLC and Wells Fargo & Company.