Published on 8/16/2016 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $8.94 million buffered enhanced return securities linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, Aug. 16 – Wells Fargo & Co. priced $8.94 million of buffered enhanced return securities with capped upside and buffered downside due June 15, 2018 linked to the S&P 500 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 index return, subject to a maximum payment of par plus 15.2%. Investors will receive par if the index falls by up to 10% and lose 1.1111% for every 1% decline in the index beyond 10%
The agent is Wells Fargo Securities.
Issuer: | Wells Fargo & Co.
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Issue: | Buffered enhanced return securities with capped upside and buffered downside
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Underlying stock: | S&P 500 Index
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Amount: | $8,944,000
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Maturity: | June 15, 2018
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Coupon: | 0%
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Price: | Par of 100
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Payout at maturity: | If index return is positive, par plus 200% of index return, subject to maximum payment of par plus 15.2%; par if index falls by up to 10%; 1.1111% loss for every 1% decline in index beyond 10%
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Initial index level: | 2,184.05
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Pricing date: | Aug. 12
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Settlement date: | Aug. 19
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Agents: | Wells Fargo Securities
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Fees: | 1.87%
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Cusip: | 94986RT27
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