Published on 12/4/2018 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $22.96 million Mitts linked to index basket
By Wendy Van Sickle
Columbus, Ohio, Dec. 4 – Wells Fargo & Co. priced $22.96 million of 0% Market Index Target-Term Securities due Nov. 19, 2021 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei Stock Average index with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the Hang Seng index with a 5% weight.
If the basket return is positive, the payout at maturity will be par of $10 plus 108.55% of the return. If the basket return is zero or negative, the payout will be par.
BofA Merrill Lynch is the underwriter.
Issuer: | Wells Fargo & Co.
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Issue: | Market Index Target-Term Securities
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Underlying indexes: | Euro Stoxx 50 (40% weight), FTSE 100 (20% weight), Nikkei Stock Average (20% weight), Swiss Market (7.5% weight), S&P/ASX 200 (7.5% weight) and Hang Seng (5% weight)
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Amount: | $22,957,480
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Maturity: | Nov. 19, 2021
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If basket return is positive, par plus 108.55% of basket return; if return is zero or negative, par
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Initial index levels: | 3,174.16 for Stoxx, 7,038.95 for FTSE, 22,262.60 for Nikkei, 9,015.59 for Swiss, 5,758.416 for S&P/ASX, 26,451.03 for Hang Seng
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Pricing date: | Nov. 29
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Settlement date: | Dec. 7
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Underwriter: | BofA Merrill Lynch
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Fees: | 2.25%
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Cusip: | 94988U326
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