By Wendy Van Sickle
Columbus, Ohio, April 11 – Wells Fargo & Co. priced $4.05 million of 0% market linked securities – autocallable with fixed percentage buffered downside due April 6, 2020 linked to the Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a call premium of 6.5% a year if the fund closes at or above its initial level on any of three annual observation dates.
The payout at maturity will be par unless the fund falls by more than 10%, in which case investors will be exposed to any losses beyond 10%.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Market linked securities – autocallable with fixed percentage buffered downside
|
| Underlying fund: | Financial Select Sector SPDR fund
|
| Amount: | $4,046,000
|
| Maturity: | April 6, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par unless the fund falls by more than 10%, in which case exposure to any losses beyond 10%
|
| Call: | At par plus an annual call premium of 6.5% if the fund closes at or above its initial level on any of three annual observation dates
|
| Initial price: | $23.73
|
| Threshold level: | $21.357, 90% of initial price
|
| Pricing date: | March 31
|
| Settlement date: | April 5
|
| Agent: | Wells Fargo Securities LLC
|
| Fees: | 1.825%
|
| Cusip: | 94986R4V0
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
