Published on 12/12/2016 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo sells $1.87 million buffered enhanced notes tied to S&P 500
By Marisa Wong
Morgantown, W.Va., Dec. 12 – Wells Fargo & Co. priced $1.87 million of buffered enhanced return securities with capped upside and buffered downside due June 4, 2021 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 150% of the index return, subject to a maximum payment of par plus 55.5%. Investors will receive par if the index falls by up to 20% and lose 1.25% for every 1% decline in the index beyond 20%.
The agent is Wells Fargo Securities, LLC.
Issuer: | Wells Fargo & Co.
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Issue: | Buffered enhanced return securities with capped upside and buffered downside
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Underlying index: | S&P 500
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Amount: | $1.87 million
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Maturity: | June 4, 2021
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | If index return is positive, par plus 150% of index return, subject to maximum payment of par plus 55.5%; par if index falls by up to 20%; 1.25% loss for every 1% decline in index beyond 20%
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Initial index level: | 2,191.08
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Buffer level: | 1,752.864, 80% of initial level
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Pricing date: | Dec. 1
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Settlement date: | Dec. 8
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Agents: | Wells Fargo Securities, LLC
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Fees: | 3.91%
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Cusip | 94986R2N0
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