Published on 11/30/2018 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo sells $273,000 capped leveraged market-linked notes on Russell ETF
By Sarah Lizee
Olympia, Wash., Nov. 30 – Wells Fargo & Co. priced $273,000 of 0% market linked securities – leveraged upside participation to a cap and fixed percentage buffered downside due Dec. 2, 2020 linked to the iShares Russell Mid-Cap ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 150% of any gain in the ETF up to a maximum payout of par plus 20%. If the ETF falls but not beyond 17%, the payout will be par. Investors will be exposed to any losses beyond the 17% buffer.
Wells Fargo Securities, LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Market linked securities – leveraged upside participation to a cap and fixed percentage buffered downside
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Underlying ETF: | iShares Russell Mid-Cap ETF
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Amount: | $273,000
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Maturity: | Dec. 2, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 150% of any gain ETF up to maximum of par plus 20%; par if ETF falls by up to 17%; 1% loss for every 1% decline beyond 17%
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Initial level: | $50.61
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Buffer level: | $42.0063, 83% of initial level
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Pricing date: | Nov. 27
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Settlement date: | Nov. 30
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Agent: | Wells Fargo Securities LLC
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Fees: | None
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Cusip: | 95001BB29
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