Published on 12/4/2018 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $24.54 million Leveraged Index Return Notes on index basket
By Wendy Van Sickle
Columbus, Ohio, Dec. 4 – Wells Fargo & Co. priced $24.54 million of 0% Leveraged Index Return Notes due Nov. 20, 2020 linked to a basket of unequally weighted indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei Stock Average index with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the Hang Seng index with a 5% weight.
The payout at maturity will be par plus 157% of any basket gain.
Investors will receive par if the basket falls by up to 10% and will be exposed to losses beyond 10%.
BofA Merrill Lynch is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Leveraged Index Return Notes
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Underlying basket: | Euro Stoxx 50 index (40% weight), FTSE 100 index (20% weight), Nikkei Stock Average index (20% weight), Swiss Market index (7.5% weight), S&P/ASX 200 index (7.5% weight) and Hang Seng index (5% weight)
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Amount: | $24,535,150
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Maturity: | Nov. 20, 2020
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 157% of any basket gain; par if basket falls by up to 10%; exposure to losses beyond 10%
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Initial index levels: | 3,174.16 for Stoxx, 7,038.95 for FTSE, 22,262.60 for Nikkei, 9,015.59 for Swiss, 5,758.416 for S&P/ASX, 26,451.03 for Hang Seng
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Pricing date: | Nov. 29
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Settlement date: | Dec. 6
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Agent: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 94988U417
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