By Susanna Moon
Chicago, Aug. 18 – Wells Fargo & Co. priced $6.5 million of 0% market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside due Nov. 19, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.5 times any index gain, up to a maximum return of 18.8%.
Investors will receive par if the index falls by up to 15% and will lose 1% for each 1% decline beyond 15%.
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 fixed percentage buffered downside
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Underlying index: | S&P 500
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Amount: | $6.5 million
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Maturity: | Nov. 19, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 150% of any index gain, capped at 18.8%; par if index falls by up to 15%; otherwise, 1% loss per 1% drop beyond 15%
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Initial level: | 2,178.15
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Pricing date: | Aug. 16
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Settlement date: | Aug. 19
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Agent: | Wells Fargo Securities LLC
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Fees: | 0.6%
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Cusip: | 94986RU25
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