Published on 7/23/2018 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $2.23 million of market-linked notes with cap on oil & gas ETF
By Wendy Van Sickle
Columbus, Ohio, July 23 – Wells Fargo & Co. priced $2.23 million of 0% market-linked notes with leveraged upside participation to a cap and contingent downside due Jan. 6, 2022 linked to the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.5 times any ETF gain, up to a maximum payout of par plus 66%.
Investors will receive par if the ETF falls by up to 25% and will be fully exposed to losses if the ETF falls by more than 25%.
Wells Fargo Securities, LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Market-linked notes with leveraged upside participation to a cap and contingent downside
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Underlying ETF: | SPDR S&P Oil & Gas Exploration & Production ETF
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Amount: | $2,225,000
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Maturity: | Jan. 6, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.5 times any ETF gain, with payout capped at par plus 66%; par if ETF falls by up to 25%; full exposure to losses if ETF falls by more than 25%
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Initial level: | $43.06
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Threshold price: | $32.295, 75% of initial price
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Pricing date: | June 29
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Settlement date: | July 5
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Agents: | Wells Fargo Securities, LLC
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Fees: | 2.075%
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Cusip: | 95001B4Q4
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