Published on 10/23/2015 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $450,000 buffered enhanced return notes on iShares MSCI EM
By Devika Patel
Knoxville, Tenn., Oct. 23 – Wells Fargo & Co. priced $450,000 of 0% buffered enhanced return securities with capped upside and buffered downside due June 26, 2017 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 140% of any gain in the fund, up to a maximum return of $1,245 for each $1,000 principal amount.
Investors will receive par if the fund falls by up to 12.5% and will lose 1.1429% for each 1% decline beyond 12.5%.
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 fund: iShares MSCI Emerging Markets ETF
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Amount: | $450,000
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Maturity: | June 26, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 140% of any fund gain, capped at 24.5%; par if fund falls by 12.5% or less; 1.1429% loss for every 1% decline beyond 12.5%
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Initial level: | $35.35
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Buffer level: | $30.93125, or 87.5% of initial level
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Pricing date: | Oct. 21
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Settlement date: | Oct. 28
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Agent: | Wells Fargo Securities, LLC
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Fees: | None
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Cusip: | 94986RZQ7
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