Published on 2/21/2017 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $5.57 million buffered enhanced return securities on S&P 500
By Marisa Wong
Morgantown, W.Va., Feb. 21 – Wells Fargo & Co. priced $5.57 million of buffered enhanced return securities with capped upside and buffered downside due Feb. 21, 2019 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 18.45%. Investors will receive par if the index falls by up to 10% and lose 1.1111% for every 1% decline in the index beyond 10%
The agent is Wells Fargo Securities.
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: | $5.57 million
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Maturity: | Feb. 21, 2019
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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 18.45%; par if index falls by up to 10%; 1.1111% loss for every 1% decline in index beyond 10%
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Initial index level: | 2,349.25
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Pricing date: | Feb. 15
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Settlement date: | Feb. 23
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Agent: | Wells Fargo Securities, LLC
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Fees: | 2%
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Cusip: | 94986R3Z2
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