Published on 10/20/2015 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $392,000 buffered enhanced notes linked to iShares MSCI EM
By Angela McDaniels
Tacoma, Wash., Oct. 20 – Wells Fargo & Co. priced $392,000 of 0% buffered enhanced return securities with capped upside and buffered downside due Jan. 5, 2018 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF’s final share price is greater than the initial share price, the payout at maturity will be par plus 150% of the ETF return, subject to a maximum settlement amount of $1,366 per $1,000 principal amount of notes. Investors will receive par if the ETF declines by 15% or less and will lose 1.1765% for every 1% that it declines beyond 15%.
Wells Fargo Securities LLC is the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Buffered enhanced return securities with capped upside and buffered downside
|
| Underlying ETF: | iShares MSCI Emerging Markets ETF
|
| Amount: | $392,000
|
| Maturity: | Jan. 5, 2018
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If ETF return is positive, par plus 150% of gain, subject to 36.6% maximum return; par if ETF decreases by 15% or less; 1.1765% loss for every 1% that ETF declines beyond 15%
|
| Initial price: | $36.25
|
| Buffer level: | $30.8125, 85% of initial share price
|
| Pricing date: | Oct. 16
|
| Settlement date: | Oct. 23
|
| Agent: | Wells Fargo Securities LLC
|
| Fees: | None
|
| Cusip: | 94986RZP9
|
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