By Angela McDaniels
Tacoma, Wash., Nov. 4 - Wells Fargo & Co. priced $1.69 million of 0% upside participation ETF-linked notes due May 7, 2020 linked to a basket of exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the SPDR S&P 500 ETF trust with a 60% weight, the S&P MidCap 400 ETF trust with a 20% weight and the iShares Russell 2000 ETF with a 20% weight.
If the basket return is positive, the payout at maturity will be par plus the basket return. If the basket declines or is flat, the payout will be par.
The final basket level will be the average of the basket's closing levels on the last trading day of each January, April, July and October from January 2014 through April 2020.
Wells Fargo Securities LLC is the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Upside participation ETF-linked notes
|
| Underlying ETFs: SPDR S&P 500 ETF trust (60% weight), S&P MidCap 400 ETF trust (20% weight) and iShares Russell 2000 ETF (20% weight)
|
| Amount: | $1,689,000
|
| Maturity: | May 7, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If basket return is positive, par plus basket return; if basket declines or is flat, par
|
| Initial share prices: | $175.73 for SPDR S&P 500; $234.52 for SPDR S&P MidCap 400; $109.23 for iShares Russell 2000
|
| Final basket level: | Average of basket's closing levels on last trading day of each January, April, July and October from January 2014 through April 2020
|
| Pricing date: | Oct. 31
|
| Settlement date: | Nov. 7
|
| Agent: | Wells Fargo Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 94986RRS2
|
© 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.
