Published on 11/4/2015 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $2.36 million buffered enhanced notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Nov. 4 – Wells Fargo & Co. priced $2.36 million of 0% buffered enhanced return securities with capped upside and buffered downside due Oct. 3, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index’s final level is greater than the initial level, the payout at maturity will be par plus 150% of the index return, subject to a maximum settlement amount of $1,216.45 per $1,000 principal amount of notes. Investors will receive par if the index declines by 12.5% or less and will lose 1.1429% 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 index: | S&P 500
|
Amount: | $2,359,000
|
Maturity: | Oct. 3, 2017
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If index return is positive, par plus 150% of gain, subject to 21.645% maximum return; par if index decreases by 12.5% or less; 1.1429% loss for every 1% that index declines beyond 12.5%
|
Initial level: | 2,090.35
|
Pricing date: | Oct. 28
|
Settlement date: | Nov. 4
|
Agent: | Wells Fargo Securities LLC
|
Fees: | None
|
Cusip: | 94986RZT1
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.