By Marisa Wong
Morgantown, W.Va., Nov. 10 – Wells Fargo & Co. priced $1.37 million of 0% market-linked securities with leveraged upside participation to a cap and buffered downside with multiplier due Nov. 6, 2019 linked to a basket of unequally weighted exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket components are the SPDR S&P 500 ETF trust with a 60% weight, the SPDR S&P MidCap 400 ETF Trust with a 20% weight and the iShares Russell 2000 ETF with a 20% weight.
The payout at maturity will be par plus 150% of any index gain, up to a maximum return of 41%.
Investors will receive par if the basket falls by up to 10% and will lose 1% for every 1% decline beyond 10%.
Wells Fargo Securities LLC is the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Market-linked securities
|
| Underlyings: | SPDR S&P 500 ETF trust with a 60% weight, SPDR S&P MidCap 400 ETF Trust with a 20% weight and iShares Russell 2000 ETF with a 20% weight
|
| Amount: | $1,373,000
|
| Maturity: | Nov. 6, 2019
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 150% of any basket gain, capped at 41%; par for losses up to 10%; 1% loss per 1% drop beyond 10%
|
| Initial ETF prices: | $207.93 for SPDR S&P; $262.71 for SPDR S&P MidCap and $115.34 for iShares Russell
|
| Pricing date: | Oct. 30
|
| Settlement date: | Nov. 6
|
| Agent: | Wells Fargo Securities LLC
|
| Fees: | 1.575%
|
| Cusip: | 94986RZE4
|
|
|
© 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.
