Published on 10/9/2018 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo sells $706,000 market-linked notes tied to S&P 500
By Wendy Van Sickle
Columbus, Ohio, Oct. 9 – Wells Fargo & Co. priced $706,000 of 0% market linked securities – upside participation to a cap and fixed percentage buffered downside due March 31, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any gain in the index up to a maximum payout of par plus 23%. If the index falls but not below its 90% buffer, par. Investors will be exposed to any losses beyond the 10% buffer.
Wells Fargo Securities, LLC is the agent.
Issuer: | Wells Fargo & Co.
|
Issue: | Market linked securities – upside participation to a cap and fixed percentage buffered downside
|
Underlying index: | S&P 500
|
Amount: | $706,000
|
Maturity: | March 31, 2020
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | Par plus any gain index up to maximum of par plus 23%; par if index falls by up to 10%; 1% loss for every 1% decline beyond 10%
|
Initial level: | 2,905.97
|
Buffer level: | 2,615.373, 90% of initial level
|
Pricing date: | Sept. 26
|
Settlement date: | Oct. 1
|
Agent: | Wells Fargo Securities LLC
|
Fees: | 0%
|
Cusip: | 95001BA53
|
|
© 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.