Published on 11/14/2016 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $7.33 million autocallables linked to Russell, iShares MSCI EAFE
By Angela McDaniels
Tacoma, Wash., Nov. 14 – Wells Fargo & Co. priced $7.33 million of autocallable market-linked securities with contingent absolute return and buffered downside with multiplier due May 15, 2018 linked to the Russell 2000 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a call premium of 9.05% per year if both underliers close at or above their initial levels on May 10, 2017, Nov. 10, 2017 or May 10, 2018.
If the notes are not called and the final level of the lesser-performing underlier is greater than or equal to its threshold value, 80% of its initial level, the payout at maturity will be par plus the absolute value of the lesser-performing underlier’s return. Otherwise, investors will lose 1.25% for every 1% that the lesser-performing underlier declines beyond 20%.
Wells Fargo Securities LLC is the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Autocallable market-linked securities with contingent absolute return and buffered downside with multiplier
|
| Underliers: | Russell 2000 index and iShares MSCI EAFE ETF
|
| Amount: | $7,332,000
|
| Maturity: | May 15, 2018
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final level of lesser-performing underlier is greater than or equal to threshold value, par plus absolute value of lesser-performing underlier’s return; otherwise, 1.25% loss for every 1% that lesser-performing underlier declines beyond 20%
|
| Call: | Automatically at par if both underliers close at or above their initial levels on May 10, 2017, Nov. 10, 2017 or May 10, 2018
|
| Initial levels: | 1,232.162 for index and $57.56 for ETF
|
| Threshold levels | : | 985.7296 for index and $46.048 for ETF; 80% of initial levels
|
| Pricing date: | Nov. 9
|
| Settlement date: | Nov. 15
|
| Agent: | Wells Fargo Securities LLC
|
| Fees: | 0.05%
|
| Cusip: | 94986R2F7
|
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