Published on 2/2/2018 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $3.57 million buffered market-linked autocallables on Stoxx 50
By Wendy Van Sickle
Columbus, Ohio, Feb. 2 – Wells Fargo & Co. priced $3,574,000 of 0% market linked securities – autocallable with fixed percentage buffered downside due Feb. 8, 2021 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 8% if the index closes at or above its initial price on any annual call date.
The payout at maturity will be par unless the index falls by more 10%, in which case investors will lose 1% for each 1% index decline beyond the buffer.
Wells Fargo Securities, LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Market linked securities – autocallable with fixed percentage buffered downside
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Underlying index: | Euro Stoxx 50
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Amount: | $3,574,000
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Maturity: | Feb. 8, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par unless the index falls by more than 10%, in which case 1% loss for every 1% decline beyond 10%
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Call: | At par plus a call premium of 8% per year if the index closes at or above its initial price on any annual call date
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Initial level: | 3,609.29
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Threshold: | 3,248.361, 90% of initial level
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Pricing date: | Jan. 31
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Settlement date: | Feb. 5
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Agent: | Wells Fargo Securities LLC
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Fees: | 1.825%
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Cusip: | 95000E4Z9
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