Published on 5/9/2016 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $12.12 million market-linked notes tied to Russell
By Susanna Moon
Chicago, May 9 – Wells Fargo & Co. priced $12.12 million of 0% market-linked securities – leveraged upside participation to a cap and buffered downside with multiplier due July 11, 2019 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index gain, up to a maximum return of 28.9%.
Investors will receive par if the index falls by up to 35% and will lose 1.5385% for each 1% decline beyond 35%.
Wells Fargo Securities, LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Market-linked securities – leveraged upside participation to a cap and buffered downside with multiplier
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Underlying index: | Russell 2000
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Amount: | $12,121,000
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Maturity: | July 11, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any index gain, capped at 28.9%; par if index falls by up to 35%; otherwise, 1.5385% loss per 1% drop beyond 35%
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Initial level: | 1,121.756
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Threshold level: | 729.1414, 65% of initial level
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Pricing date: | May 3
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Settlement date: | May 10
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Agent: | Wells Fargo Securities LLC
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Fees: | 0.25%
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Cusip: | 94986RM57
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