Published on 3/17/2016 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $2.94 million leveraged buffered notes on S&P index
By Devika Patel
Knoxville, Tenn., March 17 – Wells Fargo & Co. priced $2.94 million of 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Sept. 18, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 125% of the gain, subject to a maximum return of 42.5%. Investors will receive par if the index decreases by up to 10% and will be exposed to declines beyond 10%.
Wells Fargo Securities LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside
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Underlying index: | S&P 500
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Amount: | $2.94 million
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Maturity: | Sept. 18, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 125% of any index gain, up to 42.5% maximum return; par if index declines by 10% or less; 1% loss for every 1% that index declines beyond 10%
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Initial index level: | 2,015.93
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Threshold level: | 1,814.337, 90% of initial index level
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Pricing date: | March 15
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Settlement date: | March 18
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Agent: | Wells Fargo Securities, LLC
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Fees: | None
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Cusip: | 94986RH61
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