By Toni Weeks
San Luis Obispo, Calif., Feb. 27 – Wells Fargo & Co. priced $4,954,000 of 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Sept. 8, 2020 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 return of 58.5%.
Investors will receive par if the fund decreases by up to 20% and will lose 1% for every 1% drop beyond the 20% 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 ETF: | SPDR S&P 500 exchange-traded fund trust
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Amount: | $4,954,000
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Maturity: | Sept. 8, 2020
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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 58.5%; par for losses up to 20%; 1% loss for every 1% decline beyond buffer price
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Initial share price: | $211.61
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Buffer price: | $169.288, 80% of initial share price
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Pricing date: | Feb. 25
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Settlement date: | March 4
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Agent: | Wells Fargo Securities LLC
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Fees: | 1.62%
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Cusip: | 94986RVU2
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