Published on 12/18/2015 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $5.3 million enhanced return notes on S&P 500 index
By Devika Patel
Knoxville, Tenn., Dec. 18 – Wells Fargo & Co. priced $5.3 million of 0% enhanced return securities with capped upside and one-to-one downside due June 21, 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 triple any gain in the index, up to a maximum return of $1,193.50 for each $1,000 principal amount.
Investors will be exposed to any declines.
Wells Fargo Securities, LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Enhanced return securities with capped upside and one-to-one downside
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Underlying index: | S&P 500
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Amount: | $5,295,000
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Maturity: | June 21, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus triple any index gain, capped at 19.35%; exposure to all declines
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Initial level: | 2,073.07
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Pricing date: | Dec. 16
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Settlement date: | Dec. 23
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Agent: | Wells Fargo Securities, LLC
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Fees: | 1.33%
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Cusip: | 94986RC41
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