Published on 11/7/2016 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $4.47 million market-linked notes on three indexes
By Susanna Moon
Chicago, Nov. 7 – Wells Fargo & Co. priced $4.47 million of market-linked securities– autocallable with contingent coupon and contingent downside – due Nov. 7, 2018 linked to the least performing of the S&P 500 index, Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.5% if each index closes at or above its 65% threshold level on a quarterly observation date.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par unless any index finishes below its 65% threshold level, in which case the payout will be par plus the return of the worst performing index with full exposure to any losses.
Wells Fargo Securities LLC is the agent.
| Issuer: | Wells Fargo & Co.
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| Issue: | Market-linked securities – autocallable with contingent coupon and contingent downside
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| Underlying indexes: | S&P 500, Euro Stoxx 50, Russell 2000
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| Amount: | $4.47 million
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| Maturity: | Nov. 7, 2018
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| Coupon: | 7.5%, payable quarterly if each index closes at or above its 65% threshold on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any index closes below 65% threshold, in which case full exposure to any losses of worst performing index
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| Initial levels: | 2,126.15 for S&P, 3,055.25 for Stoxx, 1,191.388 for Russell
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| Thresholds: | 1,381.9975 for S&P, 1,985.9125 for Stoxx, 774.4022 for Russell; 65% of initial levels
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| Call: | At par if each index closes at or above its initial level on any quarterly observation date beginning May 2017
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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: | 1.325%
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| Cusip: | 94986RX97
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