Published on 3/17/2016 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $4.61 million buffered enhanced notes on S&P 500
By Wendy Van Sickle
Columbus, Ohio, March 17 – Wells Fargo & Co. priced $4.61 million of 0% buffered enhanced return securities with capped upside and buffered downside due Sept. 20, 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 index gain, up to a maximum settlement amount of $1,168 per $1,000 principal amount of notes.
Investors will receive par if the index falls by up to 5% and will lose 1.0526% for every 1% decline beyond 5%.
Wells Fargo Securities LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Buffered enhanced return securities with capped upside and buffered downside
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Underlying index: | S&P 500
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Amount: | $4,607,000
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Maturity: | Sept. 20, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 300% of gain, up to maximum of $1,168 per $1,000 principal; par if index decreases by 5% or less; 1.0526% loss for every 1% that index declines beyond 5%
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Initial level: | 2,015.93
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Buffer level: | 1,915.1335, 95% of initial level
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Pricing date: | March 15
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Settlement date: | March 22
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Agent: | Wells Fargo Securities LLC
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Fees: | 1.33%
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Cusip: | 94986RH38
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