Published on 10/6/2017 in the Prospect News Structured Products Daily.
New Issue: Wells sells $34.77 million Leveraged Index Return Notes on the Dow
By Marisa Wong
Morgantown, W.Va., Oct. 6 – Wells Fargo & Co. priced $34.77 million of 0% Leveraged Index Return Notes due Sept. 30, 2022 linked to the Dow Jones industrial average, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 114.7% of any index gain.
If the index falls by up to 20%, the payout will be par. Otherwise, investors will lose 1% for every 1% decline beyond 20%.
BofA Merrill Lynch is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Leveraged Index Return Notes
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Underlying index: | Dow Jones industrial average
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Amount: | $34,765,310
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Maturity: | Sept. 30, 2022
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Coupon: | 0%
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Price: | Par of $10.00
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Payout at maturity: | Par plus 114.7% of any index gain; par if index falls by up to 20%; exposure to any losses beyond 20%
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Initial level: | 22,381.20
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Threshold level: | 17,904.96, 80% of initial level
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Pricing date: | Sept. 28
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Settlement date: | Oct. 5
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Agent: | BofA Merrill Lynch
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Fees: | 2.5%
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Cusip: | 94988U599
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