Published on 6/2/2015 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $3.02 million leveraged buffered notes linked to SPDR S&P 500
By Angela McDaniels
Tacoma, Wash., June 2 – Wells Fargo & Co. price $3.02 million of 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Dec. 7, 2020 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
If the trust return is positive, the payout at maturity will be par plus 150% of the gain, subject to a maximum return of 60%. Investors will receive par if the trust decreases by up to 20% and will lose 1% for every 1% that the trust declines beyond 20%.
Wells Fargo Securities LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside
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Underlying: | SPDR S&P 500 ETF Trust
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Amount: | $3.02 million
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Maturity: | Dec. 7, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If trust return is positive, par plus 150% of gain, subject to 60% maximum return; par if trust decreases by 20% or less; 1% loss for every 1% that trust declines beyond 20%
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Initial price: | $211.13
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Threshold price: | $168.904, 80% of initial share price
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Pricing date: | May 29
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Settlement date: | June 5
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Agent: | Wells Fargo Securities LLC
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Fees: | 1.62%
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Cusip: | 94986RXA4
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