Published on 12/30/2015 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo sells $3.69 million buffered enhanced notes on index basket
By Marisa Wong
Morgantown, W.Va., Dec. 30 – Wells Fargo & Co. priced $3.69 million of 0% buffered enhanced return securities with capped upside and buffered downside due Dec. 21, 2017 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the Euro Stoxx 50 index with a 37% weight, the FTSE 100 index with a 23% weight, the Topix index with a 23% weight, the Swiss Market index with a 9% weight and the S&P/ASX 200 index with an 8% weight.
The payout at maturity will be par plus 1.5 times any basket gain, subject to a maximum settlement amount of $1,240 per $1,000 principal amount.
Investors will receive par if the basket declines by 15% or less and will lose 1.1765% for every 1% that it declines beyond 15%.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo & Co.
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| Issue: | Buffered enhanced return securities with capped upside and buffered downside
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| Underlying basket: | Euro Stoxx 50 index (37% weight), FTSE 100 index (23% weight), Topix index (23% weight), Swiss Market index (9% weight) and S&P/ASX 200 index (8% weight)
|
| Amount: | $3,687,000
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| Maturity: | Dec. 21, 2017
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 1.5 times any basket gain, subject to a maximum settlement amount of $1,240 per $1,000 principal amount; par if the basket declines by 15% or less; 1.1765% loss for every 1% decline beyond 15%
|
| Initial levels: | 3,260.72 for Euro Stoxx; 6,052.42 for FTSE; 1,537.10 for Topix; 8,608.91 for Swiss Market; and 5,106.659 for S&P/ASX
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| Pricing date: | Dec. 18
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| Settlement date: | Dec. 28
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| Agent: | Wells Fargo Securities, LLC
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| Fees: | None
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| Cusip: | 94986RB34
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