Published on 4/29/2016 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $3.88 million equity index-linked notes on Russell
By Wendy Van Sickle
Columbus, Ohio, April 29 – Wells Fargo & Co. priced $3.88 million of 0% equity index-linked notes with leveraged upside participation to a cap and buffered downside with multiplier due Dec. 29, 2017 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 150% of any index gain, up to a maximum of $1,177.50 per $1,000 note. If the index falls by up to 20%, the payout will be par. If the index falls by more than 20%, the payout will be par times the return times 1.25.
Investors will be exposed to any losses.
Wells Fargo Securities, LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Equity index-linked notes
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Underlying index: | Russell 2000
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Amount: | $3,875,000
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Maturity: | Dec. 29, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par of $10 plus 150% of any index gain, up to a maximum of $1,177.50 per $1,000 note; par if index falls by up to 20%; exposure to losses beyond 20%
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Initial level: | 1,150.728
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Pricing date: | April 26
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Settlement date: | April 29
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Underwriter: | Wells Fargo Securities, LLC
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Fees: | None
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Cusip: | 94986RL66
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