Published on 10/6/2016 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo sells $5.62 million market-tied contingent coupon autocallables on indexes
By Susanna Moon
Chicago, Oct. 6 – Wells Fargo & Co. priced $5.62 million of 0% market-linked securities – autocallable with contingent coupon and contingent downside due April 5, 2019 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10% if each index closes at or above the 75% threshold level on the observation date for that quarter.
The notes will called at par plus the contingent coupon if each index closes at or above its initial level on any observation date.
The payout at maturity will be par unless any index falls by more than 25%, in which case investors will be fully exposed to any losses of the worst performing index.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Market-linked securities – autocallable with contingent coupon and contingent downside
|
| Underlying indexes: | S&P 500, Russell 2000 and Euro Stoxx 50
|
| Amount: | $5,623,000
|
| Maturity: | April 5, 2019
|
| Coupon: | 10% annualized, payable quarterly if each index closes at or above threshold level on observation date for that quarter
|
| Price: | Par
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any observation date
|
| Payout at maturity: | Par unless any index falls by more than 25%, in which case full exposure to any losses of the worst performing index
|
| Initial levels: | 2,168.27 for S&P, 1,251.646 for Russell and 3,002.24 for Euro Stoxx
|
| Trigger levels: | 1,626.2025 for S&P, 938.7345 for Russell and 2251.68 for Euro Stoxx; 75% of initial levels
|
| Pricing date: | Sept. 30
|
| Settlement date: | Oct. 5
|
| Agent: | Wells Fargo Securities LLC
|
| Fees: | 1.325%
|
| Cusip: | 94986RV65
|
|
|
|
|
© 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.
