By Susanna Moon
Chicago, Jan. 2 – Wells Fargo & Co. priced $2.87 million market-linked securities due Dec. 24, 2020 – autocallable with contingent coupon and contingent downside linked to the least performing of the common stocks of Intel Corp., Delta Air Lines, Inc. and Anadarko Petroleum Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of at least 8.6% if each stock closes at or above its 50% coupon threshold on the observation date for that month.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par unless any stock finishes below its 50% downside threshold, in which case the payout will be par plus the return of the worst performing stock with full exposure to any losses.
Wells Fargo Securities LLC is the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Market-linked securities – autocallable with contingent coupon and contingent downside
|
| Underlying stocks: | Intel Corp. (Symbol: INTC), Delta Air Lines, Inc. (Symbol: DAL) and Anadarko Petroleum Corp. (Symbol: APC)
|
| Amount: | $2,866,000
|
| Maturity: | Dec. 24, 2020
|
| Coupon: | 8.6% annualized, payable monthly if each stock closes at or above 50% coupon threshold on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock falls by more than 50%, in which investors will receive par plus return of worst performing index with 1% loss per 1% decline
|
| Call: | At par if each stock closes at or above initial level on any quarterly review date from June 2018 through September 2020
|
| Initial levels: | $46.76 for Intel, $56.03 for Delta and $51.96 for Anadarko
|
| Thresholds: | $23.38 for Intel, $28.015 for Delta and $25.98 for Anadarko; 50% of initial levels
|
| Pricing date: | Dec. 21
|
| Settlement date: | Dec. 27
|
| Agent: | Wells Fargo Securities LLC
|
| Fees: | 3.4%
|
| Cusip: | 95000E4T3
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
