Published on 9/11/2017 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo sells $12.01 million buffered enhanced return securities on S&P 500
By Marisa Wong
Morgantown, W.Va., Sept. 11 – Wells Fargo & Co. priced $12.01 million of buffered enhanced return securities with capped upside and buffered downside due April 25, 2019 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 130% of the index return, subject to a maximum payment of par plus 17.901%. 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%.
Wells Fargo Securities, LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Buffered enhanced return securities with capped upside and buffered downside
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Underlying index: | S&P 500
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Amount: | $12.01 million
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Maturity: | April 25, 2019
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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 130% of index return, subject to maximum payment of par plus 17.901%; 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: | 2,457.59
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Pricing date: | Aug. 30
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Settlement date: | Sept. 7
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Agent: | Wells Fargo Securities, LLC
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Fees: | None
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Cusip: | 95000E2R9
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