Company: WFC-PC
Filing Date: 2025-09-17
Form Type: 424B2
Source: 0001839882-25-051305
Chunk: 5

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-09-17
Form: 424B2
Chunk 5
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 to affect the value of the notes. When we refer to the “value” of your note, we mean the value that you could receive for your note if you are able to sell it in the open market before the stated maturity date.

●SOFR. The value of the notes prior to maturity will be influenced by the level of SOFR at that time.

●Interest Rates. The value of the notes may be affected by changes in the interest rates in the U.S. markets.

●Time Remaining To Maturity. The value of the notes at any given time prior to maturity will likely be different from that which would be expected based on the then-current level of SOFR. This difference will most likely reflect a discount due to expectations and uncertainty concerning the level of SOFR during the period of time still remaining to the maturity date. In general, as the time remaining to maturity decreases, the value of the notes will approach the amount payable at maturity.

●Volatility of SOFR. Volatility is the term used to describe the size and frequency of fluctuations in the level of SOFR. The value of the notes may be affected if the volatility of SOFR changes.

●Our Creditworthiness. Actual or anticipated changes in our and the Guarantor’s creditworthiness may affect the value of the notes. However, because the return on the notes is dependent upon factors in addition to our ability to pay our obligations under the notes and the Guarantor’s ability to pay its obligations under the guarantee, such as the level of SOFR, an improvement in our and the Guarantor’s creditworthiness will not reduce the other investment risks related to the notes.

The Notes Will Not Be Listed On Any Securities Exchange And We Do Not Expect A Trading Market For The Notes To Develop.

The notes will not be listed or displayed on any securities exchange or any automated quotation system. Although the agent and/or its affiliates may purchase the notes from holders, they are not obligated to do so and are not required to make a market for the notes. There can be no assurance that a secondary market will develop. Because we do not expect that any market makers will participate in a secondary market for the notes, the price at which you may be able to sell your notes is likely to depend on the price, if any, at which the agent is willing to buy your notes.

If a secondary market does exist, it may be limited. Accordingly, there may be a limited number of buyers if you decide to sell your notes prior to stated maturity. This may affect the