Published on 3/6/2017 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo sells $2.19 million market-linked notes tied to S&P 500
By Marisa Wong
Morgantown, W.Va., March 6 – Wells Fargo & Co. priced $2.19 million of 0% market-linked securities – leveraged upside participation and contingent downside due March 7, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 127.5% of any index gain.
Investors will receive par if the index falls by up to 30% and will lose 1% for each 1% decline below the initial level if it falls by more than 30%.
Wells Fargo Securities, LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Market-linked securities – leveraged upside participation and contingent downside
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Underlying index: | S&P 500
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Amount: | $2,188,000
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Maturity: | March 7, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 127.5% of any index gain; par if the index falls by up to 30%; 1% loss for each 1% decline below the initial level if it falls by more than 30%
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Initial level: | 2,363.64
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Threshold level: | 1,654.548, 70% of initial level
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Pricing date: | Feb. 28
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Settlement date: | March 7
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Agent: | Wells Fargo Securities LLC
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Fees: | 2.62%
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Cusip: | 94986R4H1
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