Published on 9/14/2017 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $1.17 million market-linked notes on three indexes
By Susanna Moon
Chicago, Sept. 14 – Wells Fargo & Co. priced $1.17 million of 0% market linked securities – upside participation with contingent minimum return and contingent downside due Sept. 13, 2022 linked to the least performing of the S&P 500 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above its initial level, the payout at maturity will be par plus the greater of the contingent minimum return of 21.85% and the return of the worst performing index.
If any index falls but finishes at or above its 55% downside threshold, the payout will be par plus 21.85%.
Otherwise, the payout will be par plus the return of the worst performing index, with full exposure to any losses.
| Issuer: | Wells Fargo & Co.
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| Issue: | Market linked securities – upside participation with contingent minimum return and contingent downside
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| Underlying indexes: | S&P 500 index, the Dow Jones industrial average and Russell 2000 index
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| Amount: | $1.17 million
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| Maturity: | Sept. 13, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index gains, par plus greater of 21.85% and gain of worst performing index; if any index falls by up to 45%, par plus 21.85%; otherwise, par plus return of worst performing index, with full exposure to any losses
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| Initial index levels: | 2,461.43 for S&P, 21,797.79 for Dow, 1,399.429 for Russell
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| Thresholds: | 1,353.7865 for S&P, 11,988.7845 for Dow, 769.68595 for Russell, 55% of initial levels
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| Pricing date: | Sept. 8
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| Settlement date: | Sept. 13
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| Agent: | Wells Fargo Securities LLC
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| Fees: | 0.7%
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| Cusip: | 95000E2Z1
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