By Jennifer Chiou
New York, Jan. 2 – Wells Fargo & Co. priced $2,424,000 of 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Oct. 5, 2018 linked to the SPDR S&P 500 exchange-traded fund 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 $1,400 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.
|
| Issue: | Market-linked securities
|
| Underlying ETF: | SPDR S&P 500 exchange-traded fund trust
|
| Amount: | $2,424,000
|
| Maturity: | Oct. 5, 2018
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 150% of any fund gain, capped at 40%; par for losses up to 10%; 1% loss for every 1% decline beyond buffer price
|
| Initial share price: | $207.60
|
| Buffer price: | $186.84, 90% of initial share price
|
| Pricing date: | Dec. 30
|
| Settlement date: | Jan. 5
|
| Agent: | Wells Fargo Securities LLC
|
| Fees: | 1.325%
|
| Cusip: | 94986RVJ7
|
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