Published on 5/23/2014 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $170,000 buffered enhanced notes linked to iShares MSCI EM
By Susanna Moon
Chicago, May 23 - Wells Fargo & Co. priced $170,000 of 0% buffered enhanced return securities due Nov. 27, 2015 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 130% of any gain in the fund, up to a maximum return of $1,184.99 per $1,000 principal amount.
Investors will receive par if the fund falls by up to 10% and will lose 1.1111% for each 1% decline beyond 10%.
Wells Fargo Securities, LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Buffered enhanced return notes
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Underlying fund: | iShares MSCI Emerging Markets ETF
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Amount: | $170,000
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Maturity: | Nov. 27, 2015
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 130% of any fund gain, capped at 18.499%; par if fund falls by 10% or less; 1.1111% loss for every 1% decline beyond 10%
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Initial level: | $42.92
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Buffer level: | $38.628, or 90% of initial level
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Pricing date: | May 21
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Settlement date: | May 29
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Agent: | Wells Fargo Securities, LLC
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Fees: | None
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Cusip: | 94986RUA7
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