Published on 3/15/2016 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $1.22 million notes with averaging linked to ETF basket
By Angela McDaniels
Tacoma, Wash., March 15 – Wells Fargo & Co. priced $1.22 million of 0% market-linked notes due March 16, 2022 linked to an equally weighted basket consisting of the iShares MSCI Emerging Markets exchange-traded fund, the iShares U.S. Real Estate exchange-traded fund and the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The final share price of each ETF will be the average of its closing share prices on March 11 of each year from 2017 to 2022.
If the basket return is positive, the payout at maturity will be par plus 115% of the basket return. If the basket return is negative, the payout will be par.
Wells Fargo Securities LLC is the agent.
Issuer: | Wells Fargo & Co.
|
Issue: | Market-linked notes
|
Underlying ETFs: iShares MSCI Emerging Markets ETF, iShares U.S. Real Estate ETF and SPDR S&P 500 ETF Trust, equally weighted
|
Amount: | $1,217,000
|
Maturity: | March 16, 2022
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If basket return is positive, par plus 115% of basket return; if basket return is negative, par
|
Initial share prices: | $202.76 for SPDR S&P 500, $33.14 for iShares MSCI Emerging Markets and $75.68 for iShares U.S. Real Estate ETF
|
Final share prices: | For each ETF, average of closing share prices on March 11 of each year from 2017 to 2022
|
Pricing date: | March 11
|
Settlement date: | March 16
|
Agent: | Wells Fargo Securities LLC
|
Fees: | 0.25%
|
Cusip: | 94986RH53
|
© 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.