New Issue: Wells Fargo prices $664,000 of market-linked autocallables tied to Energy Select Sector fund

By Wendy Van Sickle

Columbus, Ohio, Sept. 7 – Wells Fargo & Co. priced $664,000 of market-linked securities due Sept. 10, 2021 – autocallable with fixed-percentage buffered downside linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus an annual premium of 7.75% if the fund closes at or above its initial level on any annual review date.

If the notes are not called, the payout at maturity will be par unless the underlying asset finishes below its 90% buffer level, in which case investors will lose 1% for each 1% decline beyond the buffer.

Wells Fargo Securities LLC is the agent.

Issuer:	Wells Fargo & Co.
Issue:	Market-linked securities – autocallable with fixed-percentage buffered downside
Underlying ETF:	Energy Select Sector SPDR fund
Amount:	$664,000
Maturity:	Sept. 10, 2021
Coupon:	0%
Price:	Par
Call:	At par plus an annualized premium of 7.75% if the fund closes at or above its initial level on any annual review date
Payout at maturity:	Par unless the ETF finishes below its 90% buffer level, in which case 1% loss for each 1% decline beyond 10%
Initial level:	$74.44
Buffer level:	$66.996, 90% of initial price
Pricing date:	Aug. 31
Settlement date:	Sept. 10
Agents:	Wells Fargo Securities, LLC
Fees:	1.825%
Cusip:	95001B5P5

© 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.