By Toni Weeks
San Luis Obispo, Calif., Feb. 27 – Wells Fargo & Co. priced $4,954,000 of 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Sept. 8, 2020 linked to the SPDR S&P 500 exchange-traded fund trust, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund return is positive, the payout at maturity will be par plus 150% of the gain, subject to a maximum return of 58.5%.
Investors will receive par if the fund decreases by up to 20% and will lose 1% for every 1% drop beyond the 20% buffer.
Wells Fargo Securities LLC is the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Market-linked securities
|
| Underlying ETF: | SPDR S&P 500 exchange-traded fund trust
|
| Amount: | $4,954,000
|
| Maturity: | Sept. 8, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 150% of any fund gain, capped at 58.5%; par for losses up to 20%; 1% loss for every 1% decline beyond buffer price
|
| Initial share price: | $211.61
|
| Buffer price: | $169.288, 80% of initial share price
|
| Pricing date: | Feb. 25
|
| Settlement date: | March 4
|
| Agent: | Wells Fargo Securities LLC
|
| Fees: | 1.62%
|
| Cusip: | 94986RVU2
|
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