New Issue: Wells Fargo prices $7.38 million buffered enhanced notes on S&P 500

By Wendy Van Sickle

Columbus, Ohio, March 18 – Wells Fargo & Co. priced $7.38 million of 0% buffered enhanced return securities with capped upside due Jan. 19 2018 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 1.5 times any index gain, up to a maximum settlement amount of $1,240 per $1,000 principal amount of notes.

Investors will receive par if the index falls by up to 12.5% and will lose 1.1429% for every 1% decline beyond 12.5%.

Wells Fargo Securities LLC is the agent.

ssuer:	Wells Fargo & Co.
Issue:	Buffered enhanced return securities with capped upside
Underlying index:	S&P 500
Amount:	$7,383,000
Maturity:	Jan. 19 2018
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 150% of gain, up to maximum of $1,240 per $1,000 principal; par if index decreases by 15% or less; 1.1429% loss for every 1% that index declines beyond 12.5%
Initial level:	2,027.22
Buffer level:	1,773.8175, 87.5% of initial level
Pricing date:	March 16
Settlement date:	March 23
Agent:	Wells Fargo Securities LLC
Fees:	None
Cusip:	94986RH87

© 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.