Published on 5/1/2017 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo sells $1.18 million capped, leveraged, buffered notes on S&P 500
By Wendy Van Sickle
Columbus, Ohio, May 1 – Wells Fargo & Co. priced $1.18 million of 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due April 30, 2019 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 2 times the index gain, capped at 16%.
Investors will receive par if the index falls by up to 10% and will be exposed to the decline any index decline beyond 10%.
Wells Fargo Securities LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside
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Underlying index: | S&P 500
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Amount: | $1,176,000
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Maturity: | April 30, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 2 times index gain, capped at 16%; par if index declines by 10% or less; 1% loss for every 1% that index declines beyond 10%
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Initial index level: | 2,388.61
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Threshold level: | 2,149.749, 90% of initial level
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Pricing date: | April 25
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Settlement date: | April 28
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Agent: | Wells Fargo Securities, LLC
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Fees: | None
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Cusip: | 94986R5R8
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