Published on 7/11/2016 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo sells $940,000 buffered enhanced return notes on iShares EM
By Marisa Wong
Morgantown, W.Va., July 11 – Wells Fargo & Co. priced $940,000 of buffered enhanced return securities with capped upside and buffered downside due April 5, 2018 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund return is positive, the payout at maturity will be par plus 150% of the fund gain, subject to a maximum payment of $1,191.25 per $1,000 principal amount. Investors will receive par if the fund falls by up to 20% and lose 1.25% for every 1% decline in the fund beyond 20%.
The agent is Wells Fargo Securities, LLC
Issuer: | Wells Fargo & Co.
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Issue: | Buffered enhanced return securities with capped upside and buffered downside
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Underlying ETF: | iShares MSCI Emerging Markets ETF
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Amount: | $940,000
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Maturity: | April 5, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If fund return is positive, par plus 150% of gain, subject to maximum payment of $1,191.25 per $1,000 note; par if fund falls by up to 20%; 1.25% loss for every 1% decline beyond 20%
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Initial price: | $34.71
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Pricing date: | July 1
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Settlement date: | July 11
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Agents: | Wells Fargo Securities, LLC
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Fees: | None
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Cusip: | 94986RQ46
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