Published on 12/5/2016 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $1.47 million buffered autocallables linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, Dec. 5 – Wells Fargo & Co. priced $1.47 million of 0% autocallable market-linked securities with fixed percentage buffered downside due Dec. 7, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a premium of 6% per year if the index closes at or above its initial level on any annual call date.
If the notes are not called on or before the final calculation date, the payout at maturity will be par if the index falls by up to 10%. Otherwise, investors will lose 1% for every 1% that the index falls beyond 10%.
Wells Fargo Securities LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Autocallable market-linked securities with fixed percentage buffered downside
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Underlying index: | S&P 500
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Amount: | $1,473,000
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Maturity: | Dec. 7, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final index falls by up to 10%, par; otherwise, 1% loss for every 1% that final index level falls by more than 10%
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Call: | Automatically at par plus a 6% annual premium if index closes at or above initial level on any annual call date
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Initial index level: | 2,198.81
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Threshold level: | 1,978.929, 90% of initial level
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Pricing date: | Nov. 30
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Settlement date: | Dec. 2
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Agent: | Wells Fargo Securities LLC
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Fees: | 1.825%
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Cusip: | 94986R2C4
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