Published on 8/5/2016 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $2.43 million digital notes linked to Russell 2000
By Susanna Moon
Chicago, Aug. 5 – Wells Fargo & Co. priced $2.43 million of 0% digital securities with buffered downside due July 6, 2018 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above the 85% threshold level, the payout at maturity will be the maximum settlement amount of $1,107.10 for each $1,000 principal amount.
If the index falls by more than 15%, investors will lose 1.1765% for each 1% decline beyond 15%.
Wells Fargo Securities, LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Digital securities with buffered downside
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Underlying index: | Russell 2000
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Amount: | $2,425,000
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Maturity: | July 6, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index gains or falls by up to 15%, par plus 10.71%; otherwise, 1.1765% loss per 1% drop beyond 15%
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Initial level: | 1,219.125
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Threshold: | 1,036.256, 85% of initial level
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Pricing date: | Aug. 1
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Settlement date: | Aug. 8
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Agent: | Wells Fargo Securities, LLC
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Fees: | 1.92%
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Cuisp: | 94986RS36
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