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.