Published on 5/5/2017 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo sells $4.37 million market-linked notes tied to S&P 500
By Wendy Van Sickle
Columbus, Ohio, May 5 – Wells Fargo & Co. priced $4.37 million of 0% market-linked securities with contingent fixed return and contingent downside due May 4, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 36% if the index gains.
Investors will receive par if the index falls by up to 40% and will be fully exposed to the decline if it falls by more than 40%.
Wells Fargo Securities LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Market-linked securities with contingent fixed return and contingent downside
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Underlying index: | S&P 500
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Amount: | $4,372,000
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Maturity: | May 4, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 36% if index gains; par if index declines by 40% or less; otherwise, 1% loss for every 1% that index declines from initial level
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Initial index level: | 2,388.77
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Threshold level: | 14333.262, 60% of initial level
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Pricing date: | April 27
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Settlement date: | May 4
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Agent: | Wells Fargo Securities, LLC
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Fees: | 2.62%
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Cusip: | 94986R5K3
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