Published on 11/3/2016 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo sells $1.46 million market-tied notes on Energy Select SPDR
By Wendy Van Sickle
Columbus, Ohio, Nov. 3 – Wells Fargo & Co. priced $1.46 million of 0% securities – leveraged upside participation to a cap and fixed percentage buffered downside due May 7, 2020 linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.7 times any fund gain, up to a maximum return of 35%.
Investors will receive par if the fund 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: | Securities – leveraged upside participation to a cap and fixed percentage buffered downside
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Underlying fund: | Energy Select Sector SPDR fund
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Amount: | $1,461,000
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Maturity: | May 7, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 170% of any fund gain, capped at 35%; par if fund falls by up to 15%; otherwise, 1% loss per 1% drop beyond 15%
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Initial level: | $68.62
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Pricing date: | Oct. 31
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Settlement date: | Nov. 7
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Agent: | Wells Fargo Securities LLC
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Fees: | 2.075%
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Cusip: | 94986RX89
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