New Issue: Wells Fargo sells $78.51 million of notes linked to S&P 500 index

By Wendy Van Sickle

Columbus, Ohio, Dec. 3 – Wells Fargo & Co. priced $78.51 million of 0% notes due Nov. 24, 2023 tied 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 1.25 times any gain of the index up to a maximum payout of par plus 58.37%.

Investors will receive par if the index falls by up to 20% and will lose 1% for each 1% decline of the index beyond 20%.

BofA Merrill Lynch is the underwriter.

Issuer:	Wells Fargo & Co.
Issue:	Notes
Underlying index:	S&P 500
Amount:	$78,514,190
Maturity:	Nov. 24, 2023
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 1.25 times any gain of the index up to a maximum payout of par plus 58.37%.; par if the index falls by up to 20%; 1% loss for each 1% decline of the index beyond 20%
Initial index level:	2,737.76
Threshold level:	2,190.21, 80% of initial level
Pricing date:	Nov. 29
Settlement date:	Dec. 6
Underwriter:	BofA Merrill Lynch
Fees:	2.5%
Cusip:	94988U342

© 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.