Published on 5/15/2017 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo sells $3.69 million market-linked notes on Russell 2000
By Marisa Wong
Morgantown, W.Va., May 15 – Wells Fargo & Co. priced $3.69 million of 0% market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside due May 5, 2021 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 130% of any index gain, subject to a maximum return of 37%.
Investors will receive par if the index falls by up to 15% and will lose 1% for each 1% decline beyond 15%.
Wells Fargo Securities, LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside
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Underlying index: | Russell 2000 index
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Amount: | $3,694,000
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Maturity: | May 5, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 130% of any index gain, return capped at 37%; par if the index falls by up to 15%; 1% loss for each 1% decline beyond 15%
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Initial level: | 1,400.428
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Threshold level: | 1,190.3638, 85% of initial level
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Pricing date: | April 28
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Settlement date: | May 5
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Agent: | Wells Fargo Securities LLC
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Fees: | 2.325%
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Cusip: | 94986R5G2
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