Published on 1/31/2017 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $9.7 million of digital securities linked to S&P 500
By Susanna Moon
Chicago, Jan. 31 – Wells Fargo & Co. priced $9.7 million of 0% digital securities with buffered downside due Feb. 8, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its 87.5% threshold level, the payout at maturity will be the maximum settlement amount of $1,135.70 for each $1,000 principal amount.
Otherwise, the investors will lose 1.1429% for every 1% decline beyond 12.5%.
Wells Fargo Securities, LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Digital securities with buffered downside
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Underlying index: | S&P 500
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Amount: | $9,703,000
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Maturity: | Feb. 8, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If return is at least negative 12.5%, par plus 13.57%; if index falls by more than 12.5%, 1.1429% loss per 1% decline beyond 12.5%
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Initial level: | 2,296.68
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Barrier level: | 2,009.595, 87.5% of initial level
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Pricing date: | Jan. 26
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Settlement date: | Feb. 2
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Agent: | Wells Fargo Securities LLC
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Fees: | None
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Cusip: | 94986R3V1
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