Published on 3/22/2017 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $6.12 million buffered enhanced return securities linked to S&P 500
New York, March 22 – Wells Fargo & Co. priced $6,122,000 of buffered enhanced return securities with capped upside and buffered downside due Sept. 21, 2018 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 15.75%. 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 stock: | S&P 500 Index
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Amount: | $6,122,000
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Maturity: | Sept. 21, 2018
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Coupon: | 0%
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Price: | Par of 100
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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 15.75%; 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: | 2,373.47
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Pricing date: | March 20
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Settlement date: | March 27
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Agents: | Wells Fargo Securities
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Fees: | 0%
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Cusip: | 94986R5D9
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