Published on 6/10/2016 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $1.27 million leveraged buffered notes linked to Russell 2000
By Angela McDaniels
Tacoma, Wash., June 10 – Wells Fargo & Co. priced $1.27 million of 0% market-linked securities with leveraged upside participation to a cap and buffered downside with multiplier due Aug. 8, 2019 linked to the Russell 2000 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 200% of the gain, subject to a maximum return of 27%. Investors will receive par if the index decreases by up to 35% and will lose 1.5385% for every 1% that the index declines beyond 35%.
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 buffered downside with multiplier
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Underlying index: | Russell 2000
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Amount: | $1.27 million
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Maturity: | Aug. 8, 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, up to 27% maximum return; par if index declines by 35% or less; 1.5385% loss for every 1% that index declines beyond 35%
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Initial index level: | 1,163.041
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Threshold level: | 755.97665, 65% of initial level
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Pricing date: | June 1
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Settlement date: | June 8
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Agent: | Wells Fargo Securities LLC
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Fees: | 0.1%
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Cusip: | 94986RN49
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