By Susanna Moon
Chicago, Aug. 2 - Wells Fargo & Co. priced $1.28 million of 1% growth securities with leveraged upside participation to a cap and fixed percentage buffered downside due Feb. 7, 2017 linked to the iShares MSCI Russell 2000 index fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable semiannually.
The payout at maturity will be par plus 1.5 times any gain in the fund, up to a maximum return of 50%.
Investors will receive par if the shares fall by up to 15% and will be exposed to losses beyond the 15% buffer.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Growth securities with leveraged upside participation to a cap and fixed percentage buffered downside
|
| Underlying fund: | iShares Russell 2000 index fund
|
| Amount: | $1.28 million
|
| Maturity: | Feb. 7, 2017
|
| Coupon: | 1%, payable semiannually
|
| Price: | Par
|
| Payout at maturity: | Par plus 150% of any fund gain, capped at 50%; par if fund falls by up to 15%; exposure to losses beyond 15%
|
| Initial level: | $78.35
|
| Threshold level: | $66.60, or 85% of initial price
|
| Pricing date: | July 31
|
| Settlement date: | Aug. 7
|
| Underwriter: | Wells Fargo Securities, LLC
|
| Fees: | 2.25%
|
| Cusip: | 94986RKT7
|
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