Published on 2/3/2014 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $3.23 million market-linked securities linked to S&P 500 index
By Toni Weeks
San Luis Obispo, Calif., Feb. 3 - Wells Fargo & Co. priced $3.23 million of 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Aug. 7, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 150% of the gain, subject to a maximum return of 35%.
Investors will receive par if the index decreases by up to 10% and will lose 1% for every 1% drop beyond the 10% buffer.
Wells Fargo Securities LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Market-linked securities
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Underlying index: | S&P 500 index
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Amount: | $3,225,000
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Maturity: | Aug. 7, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 150% of any index gain, with returns capped at 15%; par if index falls by up to 10%, exposure to losses beyond 10% buffer
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Initial index level: | 1,794.19
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Threshold level: | 1,614.771, 90% of initial level
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Pricing date: | Jan. 30
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Settlement date: | Feb. 6
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Agent: | Wells Fargo Securities, LLC
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Fees: | 1.25%
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Cusip: | 94986RSS1
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