Obbligazione Wells Fargo & Company 10% ( US95000E4D83 ) in USD

Wells Fargo & Company

100 USD ▲

Stati Uniti

US95000E4D83 ( in USD )

10% per anno ( pagato 2 volte l'anno)

13/11/2024 - Obbligazione è scaduto

Prospetto opuscolo dell'obbligazione Wells Fargo US95000E4D83 in USD 10%, scaduta

1 000 USD

3 450 000 USD

95000E4D8

N/A

Wells Fargo è una delle maggiori istituzioni finanziarie statunitensi, operante nel settore bancario, finanziario e di gestione patrimoniale.

The Obbligazione issued by Wells Fargo & Company ( United States ) , in USD, with the ISIN code US95000E4D83, pays a coupon of 10% per year.
The coupons are paid 2 times per year and the Obbligazione maturity is 13/11/2024

DEFINITIVE PRICING SUPPLEMENT No. 957
424B2 1 d492571d424b2.htm DEFINITIVE PRICING SUPPLEMENT NO. 957
Filed Pursuant to Rule 424(b)(2)
File No. 333-202840

Title of Each Class of
Maximum Aggregate
Amount of
Securities Offered

Offering Price

Registration Fee(1)
Medium Term Notes, Series K, Principal at Risk Securities Linked to the Lowest Performing of
the Common Stock of Ford Motor Company and the Common Stock of General Motors
Company due November 13, 2024

$3,450,000

$429.53

(1)
The total filing fee of $429.53 is calculated in accordance with Rule 457(r) of the Securities Act of 1933 (the "Securities Act") and will be
paid by wire transfer within the time required by Rule 456(b) of the Securities Act.
PRICING SUPPLEMENT No. 957 dated November 7, 2017
(To Prospectus Supplement dated March 18, 2015
and Prospectus dated March 18, 2015)

We lls Fa rgo & Com pa ny
M e dium -T e rm N ot e s, Se rie s K
Equit y Link e d Se c urit ie s

M a rk e t Link e d Se c urit ie s--Aut o -Ca lla ble w it h Cont inge nt Coupon a nd
Cont inge nt Dow nside
Princ ipa l a t Risk Se c urit ie s Link e d t o t he Low e st Pe rform ing of t he Com m on St oc k of Ford M ot or Com pa ny
a nd t he Com m on St oc k of Ge ne ra l M ot ors Com pa ny due N ove m be r 1 3 , 2 0 2 4
¦ Linked to the low e st pe rform ing of the common stock of Ford Motor Company and the common stock of General Motors Company (each referred
to as an "Underlying Stock")

¦ Unlike ordinary debt securities, the securities do not provide for fixed payments of interest, do not repay a fixed amount of principal at stated maturity
and are subject to potential automatic call prior to stated maturity upon the terms described below. Whether the securities pay a contingent coupon,
whether the securities are automatically called prior to stated maturity and, if they are not automatically called, whether you are repaid the original
offering price of your securities at stated maturity will depend in each case on the stock closing price of the lowest performing Underlying Stock on the
relevant calculation day. The lowest performing Underlying Stock on any calculation day is the Underlying Stock that has the lowest stock closing price
on that calculation day as a percentage of its starting price

¦ Cont inge nt Coupon. The securities will pay a contingent coupon on a quarterly basis until the earlier of stated maturity or automatic call if, a nd
only if, the stock closing price of the lowest performing Underlying Stock on the calculation day for that quarter is greater than or equal to its threshold
price. However, if the stock closing price of the lowest performing Underlying Stock on a calculation day is less than its threshold price, you will not
receive any contingent coupon for the relevant quarter. If the stock closing price of the lowest performing Underlying Stock is less than its threshold
price on every calculation day, you will not receive any contingent coupons throughout the entire term of the securities. The contingent coupon rate is
10.00% per annum

¦ Aut om a t ic Ca ll. If the stock closing price of the lowest performing Underlying Stock on any of the quarterly calculation days from November 2018 to
August 2024, inclusive, is greater than or equal to its starting price, we will automatically call the securities for the original offering price plus a final
contingent coupon payment

¦ Pot e nt ia l Loss of Princ ipa l. If the securities are not automatically called prior to stated maturity, you will receive the original offering price at
stated maturity if, a nd only if, the stock closing price of the lowest performing Underlying Stock on the final calculation day is greater than or equal to
its threshold price. If the stock closing price of the lowest performing Underlying Stock on the final calculation day is less than its threshold price, you
will lose more than 40%, and possibly all, of the original offering price of your securities

¦ The threshold price for each Underlying Stock is equal to 60% of its starting price

¦ If the securities are not automatically called prior to stated maturity, you will have full downside exposure to the lowest performing Underlying Stock
from its starting price if its stock closing price on the final calculation day is less than its threshold price, but you will not participate in any appreciation
of either Underlying Stock and will not receive any dividends paid on either Underlying Stock

¦ Your return on the securities will depend sole ly on the performance of the Underlying Stock that is the lowest performing Underlying Stock on each
calculation day. You will not benefit in any way from the performance of the better performing Underlying Stock. Therefore, you will be adversely
affected if e it he r U nde rlying St oc k performs poorly, even if the other Underlying Stock performs favorably

¦ All payments on the securities are subject to the credit risk of Wells Fargo & Company, and you will have no ability to pursue either Underlying Stock
for payment; if Wells Fargo & Company defaults on its obligations, you could lose some or all of your investment

¦ No exchange listing; designed to be held to maturity

On t he da t e of t his pric ing supple m e nt , t he e st im a t e d va lue of t he se c urit ie s is $ 9 3 1 .2 4 pe r se c urit y. T he e st im a t e d va lue of
t he se c urit ie s w a s de t e rm ine d for us by We lls Fa rgo Se c urit ie s, LLC using it s proprie t a ry pric ing m ode ls. I t is not a n indic a t ion
of a c t ua l profit t o us or t o We lls Fa rgo Se c urit ie s, LLC or a ny of our ot he r a ffilia t e s, nor is it a n indic a t ion of t he pric e , if a ny,
a t w hic h We lls Fa rgo Se c urit ie s, LLC or a ny ot he r pe rson m a y be w illing t o buy t he se c urit ie s from you a t a ny t im e a ft e r
issua nc e . Se e "I nve st m e nt De sc ript ion" in t his pric ing supple m e nt .
T he se c urit ie s ha ve c om ple x fe a t ure s a nd inve st ing in t he se c urit ie s involve s risk s not a ssoc ia t e d w it h a n
https://www.sec.gov/Archives/edgar/data/72971/000119312517338276/d492571d424b2.htm[11/9/2017 10:55:15 AM]

DEFINITIVE PRICING SUPPLEMENT No. 957
inve st m e nt in c onve nt iona l de bt se c urit ie s. Se e "Risk Fa c t ors" he re in on pa ge PRS-1 1 .
T he se c urit ie s a re unse c ure d obliga t ions of We lls Fa rgo & Com pa ny a nd a ll pa ym e nt s on t he se c urit ie s a re subje c t t o t he c re dit risk of We lls
Fa rgo & Com pa ny. T he se c urit ie s a re not de posit s or ot he r obliga t ions of a de posit ory inst it ut ion a nd a re not insure d by t he Fe de ra l De posit
I nsura nc e Corpora t ion, t he De posit I nsura nc e Fund or a ny ot he r gove rnm e nt a l a ge nc y of t he U nit e d St a t e s or a ny ot he r jurisdic t ion.
N e it he r t he Se c urit ie s a nd Ex c ha nge Com m ission nor a ny st a t e se c urit ie s c om m ission ha s a pprove d or disa pprove d of t he se se c urit ie s or
de t e rm ine d if t his pric ing supple m e nt or t he a c c om pa nying prospe c t us supple m e nt a nd prospe c t us is t rut hful or
c om ple t e .
Any
re pre se nt a t ion t o t he c ont ra ry is a c rim ina l offe nse .

Original Offering Price

Agent Discount(1)

Proceeds to Wells Fargo
Per Security
$1,000.00

$38.51

$961.49
Total
$3,450,000.00

$132,859.50

$3,317,140.50
(1) Wells Fargo Securities, LLC, a wholly owned subsidiary of Wells Fargo & Company, is the agent for the distribution of the securities and is acting as principal. See "Investment
Description" in this pricing supplement for further information.
We lls Fa rgo Se c urit ie s
M a rk e t Link e d Se c urit ie s--Aut o-Ca lla ble w it h Cont inge nt Coupon a nd
Cont inge nt Dow nside
Princ ipa l a t Risk Se c urit ie s Link e d t o t he Low e st Pe rform ing of t he Com m on St oc k of Ford M ot or
Com pa ny a nd t he Com m on St oc k of Ge ne ra l M ot ors Com pa ny due N ove m be r 1 3 , 2 0 2 4

I nve st m e nt De sc ript ion
The Principal at Risk Securities Linked to the Lowest Performing of the common stock of Ford Motor Company and the common stock of General
Motors Company due November 13, 2024 are senior unsecured debt securities of Wells Fargo & Company ("Wells Fargo") that do not provide for
fixed payments of interest, do not repay a fixed amount of principal at stated maturity and are subject to potential automatic call upon the terms
described in this pricing supplement. Whether the securities pay a quarterly contingent coupon, whether the securities are automatically called prior
to stated maturity and, if they are not automatically called, whether you are repaid the original offering price of your securities at stated maturity will
depend in each case upon the stock closing price of the lowest performing of the common stock of Ford Motor Company and the common stock of
General Motors Company (each referred to as an "Underlying Stock") on the relevant calculation day. The lowest performing Underlying Stock on
any calculation day is the Underlying Stock that has the lowest stock closing price on that calculation day as a percentage of its starting price. The
securities provide:

(i)
quarterly contingent coupon payments at a rate of 10.00% per annum until the earlier of stated maturity or automatic call if, and only if,

the stock closing price of the lowest performing Underlying Stock on the applicable quarterly calculation day is greater than or equal to
60% of its starting price;

(ii)
the possibility of an automatic early call of the securities for an amount equal to the original offering price plus a final contingent coupon

payment if the stock closing price of the lowest performing Underlying Stock on any of the quarterly calculation days from November
2018 to August 2024, inclusive, is greater than or equal to its starting price; and

(iii) if the securities are not automatically called prior to stated maturity:

(a)
repayment of the original offering price if, and only if, the stock closing price of the lowest performing Underlying Stock on the

final calculation day has not declined by more than 40% from its starting price; and

(b)
full exposure to the decline in the price of the lowest performing Underlying Stock on the final calculation day from its starting

price if the lowest performing Underlying Stock has declined by more than 40% from its starting price.
If the stock closing price of the lowest performing Underlying Stock on any quarterly calculation day is less than 60% of its starting price,
you will not receive any contingent coupon payment for that quarter. If the securities are not automatically called prior to stated maturity
and the stock closing price of the lowest performing Underlying Stock on the final calculation day has declined by more than 40% from its
starting price, you will lose more than 40%, and possibly all, of the original offering price of your securities at stated maturity. Accordingly,
you will not receive any protection if the stock closing price of the lowest performing Underlying Stock on the final calculation day has
declined by more than 40% from its starting price.
Any return on the securities will be limited to the sum of your contingent coupon payments, if any. You will not participate in any
appreciation of either Underlying Stock, but you will be fully exposed to the decline in the lowest performing Underlying Stock on the final
calculation day if the securities are not automatically called prior to stated maturity and the stock closing price of the lowest performing
Underlying Stock on the final calculation day has declined by more than 40% from its starting price.
All payments on the securities are subject to the credit risk of Wells Fargo.
Your return on the securities will depend solely on the performance of the Underlying Stock that is the lowest performing Underlying Stock
on each calculation day. You will not benefit in any way from the performance of the better performing Underlying Stock. Therefore, you
will be adversely affected if either Underlying Stock performs poorly, even if the other Underlying Stock performs favorably.
The securities are riskier than alternative investments linked to only one of the Underlying Stocks or linked to a basket composed of both
https://www.sec.gov/Archives/edgar/data/72971/000119312517338276/d492571d424b2.htm[11/9/2017 10:55:15 AM]

DEFINITIVE PRICING SUPPLEMENT No. 957
Underlying Stocks. Unlike those alternative investments, the securities will be subject to the full risks of both Underlying Stocks, with no
offsetting benefit from the better performing Underlying Stock. The securities are designed for investors who understand and are willing to
bear this additional risk in exchange for the potential contingent coupon payments that the securities offer. Because the securities may be
adversely affected by poor performance by either Underlying Stock, you should not invest in the securities unless you understand and are
willing to accept the full downside risks of both Underlying Stocks.

PRS-2
M a rk e t Link e d Se c urit ie s--Aut o-Ca lla ble w it h Cont inge nt Coupon a nd
Cont inge nt Dow nside
Princ ipa l a t Risk Se c urit ie s Link e d t o t he Low e st Pe rform ing of t he Com m on St oc k of Ford
M ot or Com pa ny a nd t he Com m on St oc k of Ge ne ra l M ot ors Com pa ny due N ove m be r 1 3 , 2 0 2 4

I nve st m e nt De sc ript ion (Cont inue d)

You should read this pricing supplement together with the prospectus supplement dated March 18, 2015 and the prospectus dated March 18, 2015 for
additional information about the securities. Information included in this pricing supplement supersedes information in the prospectus supplement and
prospectus to the extent it is different from that information. Certain defined terms used but not defined herein have the meanings set forth in the
prospectus supplement.
You may access the prospectus supplement and prospectus on the SEC website www.sec.gov as follows (or if such address has changed, by
reviewing our filing for the relevant date on the SEC website):

· Prospectus Supplement dated March 18, 2015 and Prospectus dated March 18, 2015 filed with the SEC on March 18, 2015:
http://www.sec.gov/Archives/edgar/data/72971/000119312515096449/d890684d424b2.htm
The original offering price of each security of $1,000 includes certain costs that are borne by you. Because of these costs, the estimated value of the
securities on the pricing date is less than the original offering price. The costs included in the original offering price relate to selling, structuring,
hedging and issuing the securities, as well as to our funding considerations for debt of this type.
The costs related to selling, structuring, hedging and issuing the securities include (i) the agent discount, (ii) the projected profit that our hedge
counterparty (which may be one of our affiliates) expects to realize for assuming risks inherent in hedging our obligations under the securities and
(iii) hedging and other costs relating to the offering of the securities.
Our funding considerations take into account the higher issuance, operational and ongoing management costs of market-linked debt such as the
securities as compared to our conventional debt of the same maturity, as well as our liquidity needs and preferences. Our funding considerations are
reflected in the fact that we determine the economic terms of the securities based on an assumed funding rate that is generally lower than the interest
rates implied by secondary market prices for our debt obligations and/or by other traded instruments referencing our debt obligations, which we refer
to as our "secondary market rates." As discussed below, our secondary market rates are used in determining the estimated value of the securities.
If the costs relating to selling, structuring, hedging and issuing the securities were lower, or if the assumed funding rate we use to determine the
economic terms of the securities were higher, the economic terms of the securities would be more favorable to you and the estimated value would be
higher. The estimated value of the securities as of the pricing date is set forth on the cover page of this pricing supplement.
Determining the estimated value
Our affiliate, Wells Fargo Securities, LLC ("WFS"), calculated the estimated value of the securities set forth on the cover page of this pricing
supplement based on its proprietary pricing models. Based on these pricing models and related market inputs and assumptions referred to in this
section below, WFS determined an estimated value for the securities by estimating the value of the combination of hypothetical financial instruments
that would replicate the payout on the securities, which combination consists of a non-interest bearing, fixed-income bond (the "debt component")
and one or more derivative instruments underlying the economic terms of the securities (the "derivative component").
The estimated value of the debt component is based on a reference interest rate, determined by WFS as of a recent date, that generally tracks our
secondary market rates. Because WFS does not continuously calculate our reference interest rate, the reference interest rate used in the calculation of
the estimated value of the debt component may be higher or lower than our secondary market rates at the time of that calculation. As noted above,
we determine the economic terms of the securities based upon an assumed funding rate that is generally lower than our secondary market rates. In
contrast, in determining the estimated value of the securities, we value the debt component using a reference interest rate that generally tracks our
secondary market rates. Because the reference interest rate is generally higher than the assumed funding rate, using the reference interest rate to
value the debt component generally results in a lower estimated value for the debt component, which we believe more closely approximates a market
valuation of the debt component than if we had used the assumed funding rate.
WFS calculated the estimated value of the derivative component based on a proprietary derivative-pricing model, which generated a theoretical price
for the derivative instruments that constitute the derivative component based on various inputs, including the "derivative component factors"
identified in "Risk Factors--The Value Of The Securities Prior To Stated Maturity Will Be Affected By Numerous Factors, Some Of Which Are
Related In Complex Ways." These inputs may be market-observable or may be based on assumptions made by WFS in its discretion.
https://www.sec.gov/Archives/edgar/data/72971/000119312517338276/d492571d424b2.htm[11/9/2017 10:55:15 AM]

DEFINITIVE PRICING SUPPLEMENT No. 957

PRS-3
M a rk e t Link e d Se c urit ie s--Aut o-Ca lla ble w it h Cont inge nt Coupon a nd
Cont inge nt Dow nside
Princ ipa l a t Risk Se c urit ie s Link e d t o t he Low e st Pe rform ing of t he Com m on St oc k of Ford
M ot or Com pa ny a nd t he Com m on St oc k of Ge ne ra l M ot ors Com pa ny due N ove m be r 1 3 , 2 0 2 4

I nve st m e nt De sc ript ion (Cont inue d)

The estimated value of the securities determined by WFS is subject to important limitations. See "Risk Factors--The Estimated Value Of The
Securities Is Determined By Our Affiliate's Pricing Models, Which May Differ From Those Of Other Dealers" and "--Our Economic Interests And
Those Of Any Dealer Participating In The Offering Are Potentially Adverse To Your Interests."
Valuation of the securities after issuance
The estimated value of the securities is not an indication of the price, if any, at which WFS or any other person may be willing to buy the securities
from you in the secondary market. The price, if any, at which WFS or any of its affiliates may purchase the securities in the secondary market will
be based upon WFS's proprietary pricing models and will fluctuate over the term of the securities due to changes in market conditions and other
relevant factors. However, absent changes in these market conditions and other relevant factors, except as otherwise described in the following
paragraph, any secondary market price will be lower than the estimated value on the pricing date because the secondary market price will be reduced
by a bid-offer spread, which may vary depending on the aggregate face amount of the securities to be purchased in the secondary market transaction,
and the expected cost of unwinding any related hedging transactions. Accordingly, unless market conditions and other relevant factors change
significantly in your favor, any secondary market price for the securities is likely to be less than the original offering price.
If WFS or any of its affiliates makes a secondary market in the securities at any time up to the issue date or during the 6-month period following the
issue date, the secondary market price offered by WFS or any of its affiliates will be increased by an amount reflecting a portion of the costs
associated with selling, structuring, hedging and issuing the securities that are included in the original offering price. Because this portion of the costs
is not fully deducted upon issuance, any secondary market price offered by WFS or any of its affiliates during this period will be higher than it would
be if it were based solely on WFS's proprietary pricing models less the bid-offer spread and hedging unwind costs described above. The amount of
this increase in the secondary market price will decline steadily to zero over this 6-month period. If you hold the securities through an account at
WFS or any of its affiliates, we expect that this increase will also be reflected in the value indicated for the securities on your brokerage account
statement.
If WFS or any of its affiliates makes a secondary market in the securities, WFS expects to provide those secondary market prices to any unaffiliated
broker-dealers through which the securities are held and to commercial pricing vendors. If you hold your securities through an account at a broker-
dealer other than WFS or any of its affiliates, that broker-dealer may obtain market prices for the securities from WFS (directly or indirectly), but
could also obtain such market prices from other sources, and may be willing to purchase the securities at any given time at a price that differs from
the price at which WFS or any of its affiliates is willing to purchase the securities. As a result, if you hold your securities through an account at a
broker-dealer other than WFS or any of its affiliates, the value of the securities on your brokerage account statement may be different than if you
held your securities at WFS or any of its affiliates.
The securities will not be listed or displayed on any securities exchange or any automated quotation system. Although WFS and/or its affiliates may
buy the securities from investors, they are not obligated to do so and are not required to make a market for the securities. There can be no assurance
that a secondary market will develop.

PRS-4
M a rk e t Link e d Se c urit ie s--Aut o-Ca lla ble w it h Cont inge nt Coupon a nd
Cont inge nt Dow nside
Princ ipa l a t Risk Se c urit ie s Link e d t o t he Low e st Pe rform ing of t he Com m on St oc k of Ford
M ot or Com pa ny a nd t he Com m on St oc k of Ge ne ra l M ot ors Com pa ny due N ove m be r 1 3 , 2 0 2 4

I nve st or Conside ra t ions
We have designed the securities for investors who:

? seek an investment with contingent quarterly coupon payments at a rate of 10.00% per annum until the earlier of stated maturity or automatic call,
if, and only if, the stock closing price of the lowest performing Underlying Stock on the applicable quarterly calculation day is greater than or
https://www.sec.gov/Archives/edgar/data/72971/000119312517338276/d492571d424b2.htm[11/9/2017 10:55:15 AM]

DEFINITIVE PRICING SUPPLEMENT No. 957
equal to 60% of its starting price;

? understand that if the stock closing price of the lowest performing Underlying Stock on the final calculation day has declined by more than 40%
from its starting price, they will be fully exposed to the decline in the lowest performing Underlying Stock from its starting price and will lose
more than 40%, and possibly all, of the original offering price at stated maturity;

? are willing to accept the risk that they may not receive any contingent coupon payment on one or more, or any, quarterly contingent coupon
payment dates over the term of the securities and may lose all of the original offering price per security at maturity;

? understand that the securities may be automatically called prior to stated maturity and that the term of the securities may be as short as
approximately one year;

? understand that the return on the securities will depend solely on the performance of the Underlying Stock that is the lowest performing
Underlying Stock on each calculation day and that they will not benefit in any way from the performance of the better performing Underlying
Stock;

? understand that the securities are riskier than alternative investments linked to only one of the Underlying Stocks or linked to a basket composed
of both Underlying Stocks;

? understand and are willing to accept the full downside risks of both Underlying Stocks;

? are willing to forgo participation in any appreciation of either Underlying Stock and dividends on either Underlying Stock; and

? are willing to hold the securities to maturity.
The securities are not designed for, and may not be a suitable investment for, investors who:

? seek a liquid investment or are unable or unwilling to hold the securities to maturity;

? require full payment of the original offering price of the securities at stated maturity;

? seek a security with a fixed term;

? are unwilling to purchase securities with an estimated value as of the pricing date that is lower than the original offering price, as set forth on the
cover page;

? are unwilling to accept the risk that the stock closing price of the lowest performing Underlying Stock on the final calculation day may decline by
more than 40% from its starting price;

? seek certainty of current income over the term of the securities;

? seek exposure to the upside performance of either or both Underlying Stock;

? seek exposure to a basket composed of both Underlying Stocks or a similar investment in which the overall return is based on a blend of the
performances of the Underlying Stocks, rather than solely on the lowest performing Underlying Stock;

? are unwilling to accept the risk of exposure to the Underlying Stocks;

? are unwilling to accept the credit risk of Wells Fargo; or

? prefer the lower risk of conventional fixed income investments with comparable maturities issued by companies with comparable credit ratings.

PRS-5
M a rk e t Link e d Se c urit ie s--Aut o-Ca lla ble w it h Cont inge nt Coupon a nd
Cont inge nt Dow nside
Princ ipa l a t Risk Se c urit ie s Link e d t o t he Low e st Pe rform ing of t he Com m on St oc k of Ford
M ot or Com pa ny a nd t he Com m on St oc k of Ge ne ra l M ot ors Com pa ny due N ove m be r 1 3 , 2 0 2 4

T e rm s of t he Se c urit ie s

The common stock of Ford Motor Company and the common stock of General Motors Company (each referred to as an
Market
"Underlying Stock," and collectively as the "Underlying Stocks"). We refer to the issuer of each Underlying Stock as an
Measures:
"Underlying Stock Issuer" and collectively as the "Underlying Stock Issuers."

Pricing Date:
November 7, 2017.

Issue Date:
November 10, 2017. (T+3)

Original
$1,000 per security. References in this pricing supplement to a "security" are to a security with an original offering price of
Offering Price:
$1,000.

https://www.sec.gov/Archives/edgar/data/72971/000119312517338276/d492571d424b2.htm[11/9/2017 10:55:15 AM]

DEFINITIVE PRICING SUPPLEMENT No. 957
On each contingent coupon payment date, you will receive a contingent coupon payment at a per annum rate equal to the
contingent coupon rate if, and only if, the stock closing price of the lowest performing Underlying Stock on the related
calculation day is greater than or equal to its threshold price.

Contingent
If the stock closing price of the lowest performing Underlying Stock on any calculation day is less than its threshold
Coupon
price, you will not receive any contingent coupon payment on the related contingent coupon payment date. If the
Payment:
stock closing price of the lowest performing Underlying Stock is less than its threshold price on all quarterly
calculation days, you will not receive any contingent coupon payments over the term of the securities.

Each quarterly contingent coupon payment, if any, will be calculated per security as follows: $1,000 × contingent coupon
rate × (90/360). Any contingent coupon payments will be rounded to the nearest cent, with one-half cent rounded upward.

Quarterly, on the third business day following each calculation day (as each such calculation day may be postponed pursuant
Contingent
to "--Postponement of a Calculation Day" below, if applicable), provided that the contingent coupon payment date with
Coupon
respect to the final calculation day will be the stated maturity date. If a calculation day is postponed with respect to one or
Payment
both Underlying Stocks, the related contingent coupon payment date will be three business days after the last calculation day
Dates:
as postponed.

Contingent
The "contingent coupon rate" is 10.00% per annum.
Coupon Rate:

If the stock closing price of the lowest performing Underlying Stock on any of the quarterly calculation days from November
2018 to August 2024, inclusive, is greater than or equal to its starting price, the securities will be automatically called, and
on the related call settlement date you will be entitled to receive a cash payment per security in U.S. dollars equal to the
original offering price per security plus a final contingent coupon payment. The securities will not be subject to automatic
Automatic Call:
call until the fourth quarterly calculation day, which is approximately one year after the issue date.

If the securities are automatically called, they will cease to be outstanding on the related call settlement date and you will
have no further rights under the securities after such call settlement date. You will not receive any notice from us if the
securities are automatically called.

Quarterly, on the 7th day of each February, May, August and November, commencing February 2018 and ending August
Calculation
2024, and the final calculation day, each subject to postponement as described below under "--Postponement of a
Days:
Calculation Day." We refer to November 7, 2024 as the "final calculation day."

Three business days after the applicable calculation day (as such calculation day may be postponed pursuant to "--
Call Settlement
Postponement of a Calculation Day" below, if applicable). If a calculation day is postponed with respect to one or both
Date:
Underlying Stocks, the related call settlement date will be three business days after the last calculation day as postponed.

PRS-6
M a rk e t Link e d Se c urit ie s--Aut o-Ca lla ble w it h Cont inge nt Coupon a nd
Cont inge nt Dow nside
Princ ipa l a t Risk Se c urit ie s Link e d t o t he Low e st Pe rform ing of t he Com m on St oc k of Ford
M ot or Com pa ny a nd t he Com m on St oc k of Ge ne ra l M ot ors Com pa ny due N ove m be r 1 3 , 2 0 2 4

T e rm s of t he Se c urit ie s (Cont inue d)

November 13, 2024. If the final calculation day is postponed, the stated maturity date will be the later of (i) November 13,
2024 and (ii) three business days after the last final calculation day as postponed. See "--Postponement of a Calculation Day"
Stated Maturity
below. If the stated maturity date is not a business day, the payment to be made on the stated maturity date will be made on
Date:
the next succeeding business day with the same force and effect as if it had been made on the stated maturity date. The
securities are not subject to repayment at the option of any holder of the securities prior to the stated maturity date.

If the securities are not automatically called prior to the stated maturity date, you will be entitled to receive on the stated
maturity date a cash payment per security in U.S. dollars equal to the redemption amount (in addition to the final contingent
coupon payment, if any). The "redemption amount" per security will equal:

· if the ending price of the lowest performing Underlying Stock on the final calculation day is greater than or equal to its

threshold price: $1,000; or

· if the ending price of the lowest performing Underlying Stock on the final calculation day is less than its threshold price:
https://www.sec.gov/Archives/edgar/data/72971/000119312517338276/d492571d424b2.htm[11/9/2017 10:55:15 AM]

DEFINITIVE PRICING SUPPLEMENT No. 957

$1,000 × performance factor of the lowest performing Underlying Stock on the final calculation day

Payment at
If the securities are not automatically called prior to stated maturity and the ending price of the lowest performing
Stated Maturity:
Underlying Stock on the final calculation day is less than its threshold price, you will lose more than 40%, and
possibly all, of the original offering price of your securities at stated maturity.

Any return on the securities will be limited to the sum of your contingent coupon payments, if any. You will not
participate in any appreciation of either Underlying Stock, but you will have full downside exposure to the lowest
performing Underlying Stock on the final calculation day if the ending price of that Underlying Stock is less than its
threshold price.

All calculations with respect to the redemption amount will be rounded to the nearest one hundred-thousandth, with five
one-millionths rounded upward (e.g., 0.000005 would be rounded to 0.00001); and the redemption amount will be rounded to
the nearest cent, with one-half cent rounded upward.

Lowest
For any calculation day, the "lowest performing Underlying Stock" will be the Underlying Stock with the lowest
Performing
performance factor on that calculation day (as such calculation day may be postponed for one or both Underlying Stocks
Underlying
pursuant to "--Postponement of a Calculation Day" below, if applicable).
Stock:

Performance
With respect to an Underlying Stock on any calculation day, its stock closing price on such calculation day divided by its
Factor:
starting price (expressed as a percentage).

Stock Closing
The "stock closing price" with respect to each Underlying Stock on a calculation day, means the product of the closing price
Price:
of such Underlying Stock and the adjustment factor for such Underlying Stock, each on such calculation day.

The "adjustment factor" for each Underlying Stock is initially 1.0. The adjustment factor for each Underlying Stock will
Adjustment
remain constant for the term of the securities, subject to adjustment for certain corporate events relating to the applicable
Factor:
Underlying Stock Issuer as described in the section entitled "Additional Terms of the Securities--Adjustment Events" below

PRS-7
M a rk e t Link e d Se c urit ie s--Aut o-Ca lla ble w it h Cont inge nt Coupon a nd
Cont inge nt Dow nside
Princ ipa l a t Risk Se c urit ie s Link e d t o t he Low e st Pe rform ing of t he Com m on St oc k of Ford
M ot or Com pa ny a nd t he Com m on St oc k of Ge ne ra l M ot ors Com pa ny due N ove m be r 1 3 , 2 0 2 4

T e rm s of t he Se c urit ie s (Cont inue d)

With respect to the common stock of Ford Motor Company: $12.16, its stock closing price on the pricing date.
Starting Price:

With respect to the common stock of General Motors Company: $41.70, its stock closing price on the pricing date.

Ending Price:
The "ending price" of an Underlying Stock will be its stock closing price on the final calculation day.

Threshold
With respect to the common stock of Ford Motor Company: $7.296, which is equal to 60% of its starting price.

Price:
With respect to the common stock of General Motors Company: $25.02, which is equal to 60% of its starting price.

Postponement
If any calculation day is not a trading day with respect to either Underlying Stock, such calculation day for each Underlying
of a
Stock will be postponed to the next succeeding day that is a trading day with respect to each Underlying Stock. A calculation
Calculation
day for an Underlying Stock is also subject to postponement due to the occurrence of a market disruption event with respect
Day:
to such Underlying Stock on such calculation day. See "Additional Terms of the Securities--Market Disruption Events."

Calculation
Wells Fargo Securities, LLC
Agent:

No Listing:
The securities will not be listed on any securities exchange or automated quotation system.

Material Tax
For a discussion of the material U.S. federal income and certain estate tax consequences of the ownership and disposition of
Consequences:
the securities, see "United States Federal Tax Considerations."

https://www.sec.gov/Archives/edgar/data/72971/000119312517338276/d492571d424b2.htm[11/9/2017 10:55:15 AM]

DEFINITIVE PRICING SUPPLEMENT No. 957
Wells Fargo Securities, LLC, a wholly owned subsidiary of Wells Fargo & Company. The agent may resell the securities to
other securities dealers at the original offering price of the securities less a concession not in excess of $38.51 per security.

The agent or another affiliate of ours expects to realize hedging profits projected by its proprietary pricing models to the
Agent:
extent it assumes the risks inherent in hedging our obligations under the securities. If any dealer participating in the
distribution of the securities or any of its affiliates conducts hedging activities for us in connection with the securities, that
dealer or its affiliate will expect to realize a profit projected by its proprietary pricing models from such hedging activities.
Any such projected profit will be in addition to any discount or concession received in connection with the sale of the
securities to you.

Denominations:
$1,000 and any integral multiple of $1,000.

CUSIP:
95000E4D8

PRS-8
M a rk e t Link e d Se c urit ie s--Aut o-Ca lla ble w it h Cont inge nt Coupon a nd
Cont inge nt Dow nside
Princ ipa l a t Risk Se c urit ie s Link e d t o t he Low e st Pe rform ing of t he Com m on St oc k of Ford
M ot or Com pa ny a nd t he Com m on St oc k of Ge ne ra l M ot ors Com pa ny due N ove m be r 1 3 , 2 0 2 4

De t e rm ining Pa ym e nt On A Cont inge nt Coupon Pa ym e nt Da t e a nd a t M a t urit y
If the securities have not been previously automatically called, on each quarterly contingent coupon payment date, you will either receive a
contingent coupon payment or you will not receive a contingent coupon payment, depending on the stock closing price of the lowest performing
Underlying Stock on the related quarterly calculation day.
Step 1: Determine which Underlying Stock is the lowest performing Underlying Stock on the relevant calculation day. The lowest performing
Underlying Stock on any calculation day is the Underlying Stock with the lowest performance factor on that calculation day. The performance factor
of an Underlying Stock on a calculation day is its stock closing price on that calculation day as a percentage of its starting price (i.e., its stock closing
price on that calculation day divided by its starting price).
Step 2: Determine whether a contingent coupon is paid on the applicable contingent coupon payment date based on the stock closing price of the
lowest performing Underlying Stock on the relevant calculation day, as follows:

On the stated maturity date, if the securities have not been automatically called prior to the stated maturity date, you will receive (in addition to the
final contingent coupon payment, if any) a cash payment per security (the redemption amount) calculated as follows:
Step 1: Determine which Underlying Stock is the lowest performing Underlying Stock on the final calculation day. The lowest performing
Underlying Stock on the final calculation day is the Underlying Stock with the lowest performance factor on the final calculation day. The
performance factor of an Underlying Stock on the final calculation day is its ending price as a percentage of its starting price (i.e., its ending price
divided by its starting price).
Step 2: Calculate the redemption amount based on the ending price of the lowest performing Underlying Stock, as follows:

https://www.sec.gov/Archives/edgar/data/72971/000119312517338276/d492571d424b2.htm[11/9/2017 10:55:15 AM]

DEFINITIVE PRICING SUPPLEMENT No. 957

PRS-9
M a rk e t Link e d Se c urit ie s--Aut o-Ca lla ble w it h Cont inge nt Coupon a nd
Cont inge nt Dow nside
Princ ipa l a t Risk Se c urit ie s Link e d t o t he Low e st Pe rform ing of t he Com m on St oc k of Ford
M ot or Com pa ny a nd t he Com m on St oc k of Ge ne ra l M ot ors Com pa ny due N ove m be r 1 3 , 2 0 2 4

H ypot he t ic a l Pa yout Profile
The following profile illustrates the potential payment at stated maturity on the securities (excluding the final contingent coupon payment, if any) for
a range of hypothetical performances of the lowest performing Underlying Stock on the final calculation day from its starting price to its ending
price, assuming the securities have not been automatically called prior to the stated maturity date. This graph has been prepared for purposes of
illustration only. Your actual return will depend on the actual ending price of the lowest performing Underlying Stock on the final calculation day
and whether you hold your securities to stated maturity. The performance of the better performing Underlying Stock is not relevant to your return on
the securities.

https://www.sec.gov/Archives/edgar/data/72971/000119312517338276/d492571d424b2.htm[11/9/2017 10:55:15 AM]

DEFINITIVE PRICING SUPPLEMENT No. 957

PRS-10
M a rk e t Link e d Se c urit ie s--Aut o-Ca lla ble w it h Cont inge nt Coupon a nd
Cont inge nt Dow nside
Princ ipa l a t Risk Se c urit ie s Link e d t o t he Low e st Pe rform ing of t he Com m on St oc k of Ford
M ot or Com pa ny a nd t he Com m on St oc k of Ge ne ra l M ot ors Com pa ny due N ove m be r 1 3 , 2 0 2 4

Risk Fa c t ors
The securities have complex features and investing in the securities will involve risks not associated with an investment in conventional debt
securities. You should carefully consider the risk factors set forth below as well as the other information contained in this pricing supplement and the
accompanying prospectus supplement and prospectus, including the documents they incorporate by reference. As described in more detail below, the
value of the securities may vary considerably before the stated maturity date due to events that are difficult to predict and are beyond our control.
You should reach an investment decision only after you have carefully considered with your advisors the suitability of an investment in the
securities in light of your particular circumstances.
If The Securities Are Not Automatically Called Prior to Stated Maturity, You May Lose Some Or All Of The Original Offering Price Of
Your Securities At Stated Maturity.
We will not repay you a fixed amount on your securities at stated maturity. If the securities are not automatically called prior to stated maturity, you
will receive a payment at stated maturity that will be equal to or less than the original offering price per security, depending on the ending price of
the lowest performing Underlying Stock on the final calculation day.
If the ending price of the lowest performing Underlying Stock on the final calculation day is less than its threshold price, the payment you receive at
stated maturity will be reduced by an amount equal to the decline in the price of the lowest performing Underlying Stock from its starting price
(expressed as a percentage of its starting price). The threshold price for each Underlying Stock is 60% of its starting price. For example, if the
securities are not automatically called and the lowest performing Underlying Stock on the final calculation day has declined by 40.1% from its
starting price to its ending price, you will not receive any benefit of the contingent downside protection feature and you will lose 40.1% of the
original offering price per security. As a result, you will not receive any protection if the price of the lowest performing Underlying Stock on the final
calculation day declines significantly and you may lose some, and possibly all, of the original offering price per security at stated maturity, even if
the price of the lowest performing Underlying Stock is greater than or equal to its starting price or its threshold price at certain times during the term
of the securities.
Even if the ending price of the lowest performing Underlying Stock on the final calculation day is greater than its threshold price, the amount you
receive at stated maturity will not exceed the original offering price, and your yield on the securities, taking into account any contingent coupon
https://www.sec.gov/Archives/edgar/data/72971/000119312517338276/d492571d424b2.htm[11/9/2017 10:55:15 AM]

Document Outline

#1">
- #1">