Published on 1/10/2020 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $2.47 million market-linked notes tied to SPDR S&P 500 ETF trust
By Kiku Steinfeld
Chicago, Jan. 10 – Wells Fargo & Co. priced $2.47 million of 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Jan. 9, 2023 linked to the SPDR S&P 500 exchange-traded fund trust, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 150% of any fund gain, subject to a 25% cap.
Investors will receive par if the fund falls by up to the 10% buffer and will lose 1% for each 1% decline beyond the buffer.
Wells Fargo Securities LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside
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Underlier: | SPDR S&P 500 ETF trust
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Amount: | $2,467,000
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Maturity: | Jan. 9, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 150% of any fund gain, subject to a 25% cap; par if fund falls by up to 10%; 1% loss for each 1% fund decline beyond 10%
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Initial price: | $321.08
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Threshold level: | $288.972, 90% of initial price
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Pricing date: | Dec. 30
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Settlement date: | Jan. 7
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Agent: | Wells Fargo Securities LLC
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Fees: | 2.075%
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Cusip: | 95001HCX7
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