By Marisa Wong
Madison, Wis., Oct. 6 – Wells Fargo & Co. priced $2.13 million of 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due July 9, 2018 linked to the SPDR S&P 500 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund return is positive, the payout at maturity will be par plus 150% of the gain, subject to a maximum payout of $1,390 per $1,000 principal amount.
Investors will receive par if the fund 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 fund: | SPDR S&P 500 ETF trust
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Amount: | $2,132,000
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Maturity: | July 9, 2018
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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, capped at 39%; par for losses up to 10%; 1% loss for every 1% decline beyond buffer
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Initial share price: | $197.02
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Threshold price: | $177.318, 90% of initial share price
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Pricing date: | Sept. 30
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Settlement date: | Oct. 3
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Agent: | Wells Fargo Securities LLC
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Fees: | 1.325%
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Cusip: | 94986RUU3
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