Published on 3/13/2018 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $3.27 million market-linked notes on Russell
By Wendy Van Sickle
Columbus, Ohio, March 13 – Wells Fargo & Co. priced 3.27 million of 0% market-linked securities—contingent fixed return and fixed percentage buffered downside due Sept. 4, 2019 linked to the Russell 2000 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 13.5%.
If the index falls by up to 10%, the payout will be par.
If the index falls by more than 20%, investors will lose 1% for every 1% decline beyond 10%
Wells Fargo Securities is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Market-linked securities—contingent fixed return and fixed percentage buffered downside
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Underlying index: | Russell 2000 index
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Amount: | $3,272,000
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Maturity: | Sept. 4, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index return is positive, par plus 13.5%; if the index falls by up to 10%, par; 1% loss for every 1% drop beyond 10%
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Initial level: | 1,571.965
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Threshold level: | 1,414.7685, 90% of initial level
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Pricing date: | March 8
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Settlement date: | March 13
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Agent: | Wells Fargo Securities
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Fees: | 0.05%
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Cusip: | 95001B2S2
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