By Marisa Wong
Morgantown, W.Va., Aug. 25 – Wells Fargo & Co. priced $1.89 million of 0% market-linked securities – leveraged upside participation and fixed percentage buffered downside due Aug. 21, 2020 linked to a basket of exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the SPDR S&P 500 ETF trust with a 50% weight, the iShares Russell 2000 ETF with a 25% weight and the iShares MSCI EAFE ETF with a 25% weight.
The payout at maturity will be par plus 115.75% of any basket gain.
Investors will receive par if the basket falls by up to 10% and will be exposed to any losses beyond the buffer.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Market-linked securities – leveraged upside participation and fixed percentage buffered downside
|
| Underlying basket: | SPDR S&P 500 ETF trust with a 50% weight, iShares Russell 2000 ETF with a 25% weight and iShares MSCI EAFE ETF with a 25% weight.
|
| Amount: | $1,885,000
|
| Maturity: | Aug. 21, 2020
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 115.75% of any basket gain; par if basket falls by up to 10%; 1% loss for each 1% decline beyond 10%
|
| Initial prices: | $242.71 for SPDR S&P; $134.92 for iShares Russell and $66.19 for iShares EAFE
|
| Pricing date: | Aug. 18
|
| Settlement date: | Aug. 23
|
| Agent: | Wells Fargo Securities LLC
|
| Fees: | 0.15%
|
| Cusip: | 95000E2P3
|
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