Published on 8/13/2013 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $10.53 million buffered enhanced return notes linked to S&P 500
By Toni Weeks
San Luis Obispo, Calif., Aug. 13 - Wells Fargo & Co. priced $10.53 million of 0% buffered enhanced return securities with upside participation to a cap and buffered downside with multiplier due June 2, 2015 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than the initial index level, the payout at maturity will be par plus 130% of the index return, subject to a maximum return of 18.07%. Investors will receive par if the index declines by 12.5% or less and will lose 1.1429% for every 1% that it declines beyond 12.5%.
Wells Fargo Securities LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Buffered enhanced return securities with upside participation to a cap and buffered downside with multiplier
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Underlying index: | S&P 500 index
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Amount: | $10,526,000
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Maturity: | June 2, 2015
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final index level is greater than initial index level, par plus 130% of index return, capped at 18.07%; par if index declines by 12.5% or less; 1.1429% loss for every 1% drop beyond 12.5%
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Initial level: | 1,691.42
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Threshold level: | 1,479.9925, 87.5% of initial level
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Pricing date: | Aug. 9
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Settlement date: | Aug. 16
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Agent: | Wells Fargo Securities LLC
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Fees: | None
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Cusip: | 94986RQY0
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