Published on 11/1/2018 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $240,000 market-linked notes linked to S&P 500
By Sarah Lizee
Olympia, Wash., Nov. 1 – Wells Fargo & Co. priced $240,000 of 0% market-linked securities with contingent fixed return and fixed percentage buffered downside due Nov. 8, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the payout will be par plus 23%. If the index falls by up to 25%, the payout at maturity will be par. If the index falls by more than 25%, investors will lose 1% for each 1% of the index from its initial level.
Wells Fargo Securities, LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Market linked securities with contingent fixed return and fixed percentage buffered downside
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Underlying index: | S&P 500
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Amount: | $240,000
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Maturity: | Nov. 8, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any gain index up to maximum of par plus 23%; par if index falls by up to 25%; otherwise, 1% loss for every 1% decline
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Initial level: | 2,682.63
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Threshold level: | 2,011.9725, 75% of initial level
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Pricing date: | Oct. 30
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Settlement date: | Nov. 6
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Agent: | Wells Fargo Securities LLC
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Fees: | 2.075%
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Cusip: | 95001B7M0
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