Published on 9/22/2015 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $4.53 million buffered enhanced return notes on S&P
By Susanna Moon
Chicago, Sept. 22 – Wells Fargo & Co. priced $4.53 million of 0% buffered enhanced return securities with capped upside and buffered downside due July 20, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 160% of any gain in the index, up to a maximum return of $1,239.04 for each $1,000 principal amount.
Investors will receive par if the index 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 securities with capped upside and buffered downside
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Underlying index: | MSCI EAFE
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Amount: | $4,527,000
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Maturity: | July 20, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 160% of any index gain, capped at 23.904%; par if index falls by 10% or less; 1.1111% loss per 1% decline beyond 10%
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Initial level: | 1,990.20
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Buffer level: | 90% of initial level
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Pricing date: | Sept. 17
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Settlement date: | Sept. 24
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Agent: | Wells Fargo Securities, LLC
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Fees: | None
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Cusip: | 94986RYX3
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