Published on 9/7/2018 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $3.17 million leveraged market-linked notes on Russell 2000
By Wendy Van Sickle
Columbus, Ohio, Sept. 7 – Wells Fargo & Co. priced $3.17 million of 0% market-linked notes – leveraged upside participation to a cap and fixed percentage buffered downside due Nov. 14, 2019 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above its initial level, the payout at maturity will be par plus 1.5 times the gain, up to a maximum of par plus 12.5%.
If the index falls by up to 10%, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline beyond 10%.
Wells Fargo Securities LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Market-linked notes – leveraged upside participation to a cap and fixed percentage buffered downside
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Underlying index: | Russell 2000 index
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Amount: | $3,174,000
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Maturity: | Nov. 14, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index gains, par plus1.5 times return up to maximum of par plus 12.5%; if index falls by up to 10%, par; otherwise, 1% loss per 1% decline beyond 10%
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Initial level: | 1,733.377
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Buffer level | 1,560.0393, 90% of initial level
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Pricing date: | Sept. 4
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Settlement date: | Sept. 11
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Agent: | Wells Fargo Securities LLC
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Fees: | 0.1%
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Cusip: | 95001B6U3
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