Wells Fargo Finance LLC set preliminary terms for $1,000 face-amount market-linked notes tied to the S&P 500 Index, fully and unconditionally guaranteed by Wells Fargo & Company (WFC). The stated maturity date is October 20, 2032, subject to postponement, and the notes pay no periodic interest or dividends. If the index rises, the maturity payment reflects at least 106.20% participation in its percentage gain; if it falls by no more than 15%, the notes return face amount plus the absolute index decline, capped at a 15% gain. If the index falls more than 15%, losses track the decline beyond the buffer, and holders may lose up to 85% of face amount.
The current estimated value is approximately $979.20 per security, and the estimated value on the pricing date will be at least $949.20. The original offering price is $1,000 per security; Wells Fargo Finance LLC's proceeds are $994 after a $6 agent discount. The notes are unsecured obligations and will not be exchange-listed; the agent is not obligated to make a market. Payments are subject to the credit risk of the issuer and guarantor.
Wells Fargo Finance LLC’s preliminary terms describe callable notes linked to the lowest-performing of the Russell 2000 Index, the S&P 500 Index and the State Street Utilities Select Sector SPDR ETF; Wells Fargo & Company (WFC) fully and unconditionally guarantees them. Each security has a $1,000 face amount and $1,000 offering price; the agent discount is $5.50 and proceeds to Wells Fargo Finance LLC are $994.50 per security. Monthly coupons, at a rate set on the pricing date of at least 10.00% per annum, are payable only if the lowest-performing underlier closes at or above 70% of its starting value.
Wells Fargo Finance LLC may redeem the notes monthly from April 2027 through September 2031. If not redeemed, maturity on October 20, 2031 pays $1,000 per security only when the lowest-performing underlier ends at or above 60% of its starting value; below that threshold, the maturity payment equals $1,000 multiplied by that underlier’s performance factor, and losses can exceed 40% or reach the full face amount. Estimated value is approximately $976.60 per security, with a pricing-date minimum of $946.60, versus the $1,000 offering price. The notes are unlisted, and no secondary market is assured.
Wells Fargo & Company (WFC) guarantees Wells Fargo Finance LLC’s preliminary offering of S&P 500-linked notes at an original offering price of $1,000 per security. The notes are unsecured, pay no periodic interest, and have a stated maturity of April 20, 2028, subject to postponement.
For an index increase, investors receive 100% upside participation, capped at a maximum upside return of at least 15.00% of face amount, to be set on the pricing date. If the index falls by no more than the 20% buffer, the note pays a positive return equal to 50% of the decline, effectively capped at 10.00%. A decline beyond the buffer creates one-for-one downside exposure beyond 20%; investors may lose up to 80% of face amount.
The current estimated value is approximately $987.50 per security, and the estimated value on the pricing date will be at least $957.50, compared with the $1,000 offering price. The offering table lists an $8.00 agent discount and $992.00 proceeds to Wells Fargo Finance LLC per security. The notes are unlisted, and the agent is not required to make a secondary market.
Wells Fargo Finance LLC is offering $8.5 million of market-linked notes, guaranteed by Wells Fargo & Company (WFC); the offering table lists $8.5 million of proceeds to Wells Fargo Finance LLC. The notes are linked to the lowest-performing of the iShares MSCI EAFE ETF, Nasdaq-100 Index and Russell 2000 Index.
The notes pay an 11.50% annual contingent coupon quarterly only when the lowest-performing underlier is at or above 70% of its starting value on a calculation day. Wells Fargo Finance LLC may redeem all, but not part, on scheduled quarterly payment dates beginning approximately three months after issuance; redemption pays $1,000 per security plus any payable final coupon.
If not redeemed, the notes pay $1,000 per security at maturity on July 10, 2028 if the lowest-performing underlier is at least 65% of its starting value. Below that threshold, repayment follows that underlier’s performance factor, and investors may lose more than 35% or all of their principal. The notes do not participate in underlier gains or dividends, are not exchange-listed, and had an estimated value of $990.09 per security on the pricing date.
Wells Fargo Finance LLC is offering trigger callable contingent-yield notes linked to the least-performing of the Nasdaq-100, Russell 2000 and S&P 500 indexes; Wells Fargo & Company (WFC) fully and unconditionally guarantees them. Each Note has a $10 principal amount and offering price, with a $1,000 minimum investment (100 Notes). Wells Fargo Finance LLC receives $9.85 per Note after the $0.15 agent discount. Estimated value is approximately $9.73 per Note and no less than $9.43 on the Trade Date. The rate, set on the Trade Date, is at least 11.00% annually; each quarterly coupon is at least $0.275 per Note, payable only if all three indexes close at or above 70% of their initial values on every eligible trading day in the Observation Period.
The issuer may redeem all Notes, but not part, quarterly beginning October 8, 2027, paying principal plus any coupon then due; no further payments follow. At the scheduled maturity on October 11, 2029, subject to postponement, principal is repaid if each index’s final value is at least 70% of its initial value. If any is below, repayment reflects the full decline of the least-performing index from its initial value, and investors may lose all principal. Returns do not include index appreciation or dividends, and all payments are subject to issuer and guarantor credit risk.
Wells Fargo & Company (WFC) fully and unconditionally guarantees equity-index-linked notes issued by Wells Fargo Finance LLC, whose total original offering price is $524,000. Each security has a $1,000 face amount. After the $3,144 agent discount, Wells Fargo Finance LLC receives $520,856 in total proceeds. The estimated value was $980.77 per security, below the original offering price.
The 9.70% annual coupon is payable monthly only when the lowest-performing of the Dow Jones Industrial Average, Russell 2000 Index and S&P 500 is at least 70% of its starting value on a calculation day. The notes may be automatically called from April 2027 through September 2031 if the lowest-performing index reaches its starting value. If not called, the stated maturity date is October 9, 2031, subject to postponement: principal is $1,000 per security only if the lowest-performing index is at least 70% of its starting value on the final calculation day. Below that threshold, investors bear the index’s full decline and may lose more than 30% or all principal. The notes provide no index appreciation or dividends and are not exchange-listed.
Wells Fargo & Company (WFC) fully and unconditionally guarantees Wells Fargo Finance LLC’s preliminary offering of $1,000-per-security notes linked to the lowest-performing of the Nasdaq-100, Russell 2000 and S&P 500 indexes. The contingent coupon rate, to be set on the pricing date, will be at least 10.35% per annum; a monthly coupon is payable only when the lowest-performing index is at or above 70% of its starting value on that month’s calculation day. Wells Fargo Finance LLC may redeem the notes monthly beginning approximately one year after issuance.
If not redeemed, the notes return the $1,000 face amount at maturity on October 10, 2031, only if the lowest-performing index ends at or above 80% of its starting value. Below that threshold, losses are leveraged at 1.25 times declines beyond the 20% buffer, potentially eliminating the face amount; holders do not participate in index appreciation or receive dividends. The original offering price is $1,000 per security, with $992.50 in proceeds to the issuer after the agent discount. The current estimated value is approximately $972.30 per security, and the estimated value on the pricing date will be no less than $942.30. The notes are unlisted, and a secondary market may not develop.
Wells Fargo & Company (WFC) guarantees preliminary $1,000-per-security notes issued by Wells Fargo Finance LLC and linked to Space Exploration Technologies Corp. Class A common stock, with stated maturity on October 12, 2029, subject to postponement. Monthly contingent coupons will be at least 20.00% per annum, with the rate set on the pricing date, and are payable only when the stock’s monthly closing value is at least 65% of its starting value. If a quarterly call-date closing value reaches the starting value, the notes are automatically called for $1,000 plus the final contingent coupon.
If not called, the maturity payment is $1,000 when the final value is at least 65% of the starting value; below that threshold, payment reflects the stock’s decline from the starting value, potentially eliminating principal. Holders do not participate in stock appreciation or receive its dividends. The preliminary estimated value is approximately $961.30 per security, compared with the $1,000 original offering price; the pricing-date estimated value has a stated floor of $931.30. Wells Fargo Finance LLC receives $990 per security, and Wells Fargo Securities, LLC receives a $10 agent discount per security.
Wells Fargo & Company (WFC) fully and unconditionally guarantees preliminary equity-index-linked digital securities issued by Wells Fargo Finance LLC, linked to the MSCI EAFE Index and offered at $1,000 per security. If the final index level is at least 85.00% of its initial level, the maturity payment is expected to be $1,157.40 to $1,185.10 per security, corresponding to a contingent fixed return of 15.74% to 18.51%. The determination date is expected within 24 to 27 months after the trade date, with maturity expected on the second scheduled business day afterward.
If the final level is below 85.00% of the initial level, payment is below face amount and losses are leveraged: each 1% decline below the threshold reduces face amount by approximately 1.1765%, and the loss could reach the full investment. Upside is capped at the stated contingent fixed return; no periodic interest or dividends are paid. The current estimated value is approximately $992.20 per security, below the $1,000 offering price, and the trade-date estimate will be no less than $962.20. The securities will not be listed on an exchange or automated quotation system, and Wells Fargo Securities, LLC and its affiliates are not obligated to make a market.
Wells Fargo & Company (WFC) fully and unconditionally guarantees a $3,070,000 offering of equity index-linked notes issued by Wells Fargo Finance LLC, at an original offering price and face amount of $1,000 per security. The notes are linked to the lower-performing of the Nasdaq-100 and S&P 500 indexes. They pay a contingent coupon at 10.05% per annum, semiannually only when the lower-performing index closes at or above 70% of its starting value on the relevant calculation day; otherwise that period’s coupon is not paid. Holders receive no dividends on index constituents and do not participate in index appreciation.
Wells Fargo Finance LLC may redeem the notes at its option on scheduled coupon dates beginning approximately one year after issuance. If not redeemed, they mature on October 7, 2031: a lowest-performing index at or above its 70% downside threshold returns the $1,000 face amount, plus any final coupon payable. Below that threshold, the principal payment equals $1,000 multiplied by the index’s performance factor and can fall to zero. The estimated value was $977.73 per security, compared with the $1,000 offering price. The notes are unlisted, may have limited secondary-market liquidity, and payments carry issuer and guarantor credit risk.