Wells Fargo & Company (WFC), as guarantor, fully and unconditionally guarantees auto-callable notes issued by Wells Fargo Finance LLC and linked to CrowdStrike Holdings, Inc. Class A common stock. Each security has a $1,000 face amount and original offering price; the agent discount is $42.50 and proceeds to Wells Fargo Finance LLC are $957.50 per security.
Monthly contingent coupons are payable only when CrowdStrike’s closing value is at least 60% of its starting value; the annual coupon rate will be set on the pricing date and will be at least 20.00%. On quarterly call dates, a closing value at or above the starting value triggers automatic redemption for the face amount plus a final contingent coupon. If the notes are not called, the maturity payment is $1,000 when the ending value is at least 60% of the starting value; below that threshold, it is $1,000 multiplied by the performance factor, with possible loss of all principal. Holders do not share in CrowdStrike’s gains or dividends, and the notes are not exchange-listed.
The preliminary estimated value is approximately $946.50 per security; the estimated value at pricing will be at least $916.50. The scheduled issue date is October 21, 2026, and the stated maturity date is October 19, 2028. Payments are subject to the credit risk of the issuer and guarantor.
Wells Fargo & Company reported preliminary results for the quarter ended September 30, 2026, with revenue of $21.870 billion, up 2% from a year earlier, and net income of $5.951 billion, up 6%. Diluted earnings per common share were $1.87, a 13% year-over-year increase. Net interest income rose 5% to $12.517 billion, while noninterest income fell 1% to $9.353 billion.
Provision for credit losses increased 51% to $1.029 billion, reflecting a higher allowance for commercial and industrial and auto loans due to higher loan balances, partly offset by a lower allowance for commercial real estate loans. Nonperforming assets were $7.359 billion, or 0.70% of total loans, compared with 0.83% a year earlier. At September 30, 2026, the preliminary CET1 ratio was 10.0%, compared with 11.0% a year earlier.
Wells Fargo repurchased 28.6 million shares of common stock for $2.5 billion in the quarter and declared a $0.50 dividend per common share, compared with $0.45 a year earlier. Results are preliminary; final results may differ materially following final review procedures, subsequent events, or discovery of additional information.
Wells Fargo & Company guarantees preliminary market-linked notes issued by Wells Fargo Finance LLC, with a $1,000 face amount and original offering price per security. Payments depend on the lowest-performing of the Nasdaq-100, Russell 2000 and S&P 500 indexes. A contingent coupon, at a rate to be set on the pricing date and at least 9.50% per annum, is paid quarterly only when the lowest-performing index closes at or above 65% of its starting value; no coupon is paid for a quarter below that level.
Wells Fargo Finance LLC may redeem the notes on quarterly payment dates beginning approximately one year after issuance. If not redeemed, at the stated maturity date of October 21, 2031, holders receive $1,000 principal only if the weakest index is at least 55% of its starting value; below 55%, principal bears the index’s full decline from its starting value, with losses exceeding 45% and possibly reaching all of the face amount. Holders do not participate in index appreciation or receive dividends, and the notes are unlisted. The preliminary estimated value is approximately $974.80 per security; the estimated value on the pricing date will be at least $944.80 per security.
Wells Fargo & Company (WFC) guarantees Wells Fargo Finance LLC’s preliminary offering of market-linked notes with a $1,000 face amount per security, stated to mature on October 20, 2031, subject to postponement. The Basket weights the S&P 500 Index at 80.00% and the iShares MSCI EAFE ETF at 20.00%. If the Basket rises, the maturity payment includes a positive return at an upside participation rate of at least 103.10%, to be determined on the pricing date. If the Basket finishes flat or falls by no more than 20%, payment is $1,000; declines beyond that buffer result in one-for-one downside exposure, with a potential loss of up to 80% of face amount.
The notes pay no interest or dividends and are not exchange-listed. Payments are subject to the credit risk of Wells Fargo Finance LLC and WFC; holders have no claim to the underlying securities or ETF shares. The current estimated value is approximately $978.60 per security, below the $1,000 original offering price; the estimated value on the pricing date will be at least $948.60 per security. The calculation day is October 15, 2031, subject to postponement, and Wells Fargo Securities and its affiliates are not obligated to make a secondary market.
Wells Fargo & Company (WFC) guarantees preliminary callable market-linked notes issued by Wells Fargo Finance LLC, linked to the lowest-performing of the Dow Jones Industrial Average, Russell 2000 Index and S&P 500 Index, and due October 21, 2030. Each security has a $1,000 face amount and original offering price; proceeds to Wells Fargo Finance LLC are $993.00 per security after a $7.00 agent discount. Quarterly contingent coupons are payable only if the lowest-performing index closes at or above 70% of its starting value; the annual coupon rate will be set on the pricing date at no less than 10.00%.
Wells Fargo Finance LLC may redeem all, but not part, of the securities on quarterly dates beginning approximately six months after issuance. If not redeemed, investors receive $1,000 per security at maturity only if the lowest-performing index is at or above 70% of its starting value; below that threshold, payment tracks the index from its starting value, with losses exceeding 30% and potentially reaching all principal. Returns do not include index appreciation or dividends. The estimated value is approximately $978.50 per security, and the pricing-date estimate will be at least $948.50. The securities are unlisted, and affiliates are not obligated to make a market.
WFC fully and unconditionally guarantees market-linked securities issued by Wells Fargo Finance LLC, the issuer. The preliminary terms set a $1,000 face amount and offering price per security, linked to the S&P 500, with stated maturity on October 19, 2028, subject to postponement. If the index rises, holders receive 100% participation in its gain up to a maximum upside return of at least 20.50% of face amount; if it falls by no more than the 20% buffer, the payment includes a positive return equal to the decline. A larger fall produces one-for-one losses beyond the buffer, with potential loss of up to 80% of face amount.
The securities pay no periodic interest or dividends and are not exchange-listed. The current estimated value is approximately $984.20 per security, and the estimated value on the pricing date will be at least $954.20. Wells Fargo Finance LLC receives $990 per security after the $10 agent discount. Secondary-market purchases are not guaranteed, and the securities are designed to be held to maturity.
Wells Fargo Finance LLC has set preliminary terms for equity index-linked notes with a $1,000 face amount and original offering price per security. Wells Fargo & Company (WFC) fully and unconditionally guarantees the notes. Their maturity payment depends on a basket of five indexes: EURO STOXX 50 (40%), TOPIX (25%), FTSE 100 (17%), Swiss Market Index (11%) and S&P/ASX 200 (7%).
For a positive basket return, the notes provide 180% upside participation, subject to a maximum settlement amount expected to range from $1,391.50 to $1,460.44 per $1,000 face amount. A decline of up to 15% returns the face amount; below that buffer, losses apply at approximately 1.1765% of face amount for each 1% decline below 85%, and could reach the full investment. The notes pay no periodic interest or dividends on basket securities. Their current estimated value is approximately $987.70 per security, and their trade-date estimated value will be at least $957.70. They are unsecured obligations and are not exchange-listed; Wells Fargo Securities, LLC and its affiliates are not required to make a market.
Wells Fargo & Company (WFC) fully and unconditionally guarantees preliminary MSCI EAFE-linked notes issued by Wells Fargo Finance LLC. Each security has a $1,000 face amount and a $1,000 original offering price.
The notes pay no interest. At maturity, they return $1,000 if the index is flat or declines by no more than 12.50%; if it rises, the 170% upside participation rate applies subject to an expected maximum settlement amount between $1,203.49 and $1,239.36 per security. Below the 12.50% buffer, losses are approximately 1.1429% of face amount for every 1% the index falls below 87.50% of its initial level, and could consume all principal.
The determination date is expected within 18 to 21 months after the trade date. The current estimated value is approximately $992.40 per security; the trade-date estimated value will not be less than $962.40. Payments are subject to the issuer’s and guarantor’s credit risk.
Wells Fargo Finance LLC is offering $1,903,000 of EURO STOXX 50® index-linked securities, fully and unconditionally guaranteed by Wells Fargo & Company (WFC). Each security has a $1,000 face amount and an original offering price of $1,000; total proceeds to Wells Fargo Finance LLC are $1,903,000. The securities mature October 13, 2028, subject to postponement, and pay no interest.
At maturity, if the index is at least 85.00% of its initial level, each $1,000 face amount pays $1,203.50, a contingent fixed return of 20.35%. Below that threshold, the payment is reduced by approximately 1.1765% of face amount for each 1% decline below the threshold, and could be zero. The estimated value was $997.85 per security on the trade date, below the offering price. Payments are subject to the issuer’s and guarantor’s credit risk.
Wells Fargo & Company (WFC) guarantees a $2,266,000 offering of equity-index-linked digital securities issued by Wells Fargo Finance LLC and linked to the MSCI EAFE Index. Wells Fargo Finance LLC receives $2,266,000 in proceeds; each security has a $1,000 face amount and original offering price. The notes pay no interest or dividends and mature October 13, 2028, subject to postponement.
At maturity, a final index level at least 85.00% of its initial level of 3,087.74 pays $1,181.60 per $1,000 face amount, a capped 18.16% return. Below 85.00%, the payment declines at approximately 117.65% of the index loss beyond the 15.00% buffer, potentially to zero. Wells Fargo Securities, LLC estimated the trade-date value at $993.95 per security, below the $1,000 offering price. The notes are unsecured obligations fully and unconditionally guaranteed by WFC. They will not be listed on an exchange, and Wells Fargo Securities, LLC and its affiliates are not obligated to buy them or make a market.