Published on 12/6/2018 in the Prospect News Structured Products Daily.
New Issue: Wells prices $1.06 million market-linked notes with partial upside participation on S&P
By Sarah Lizee
Olympia, Wash., Dec. 6 – Wells Fargo & Co. priced $1.06 million of 0% market-linked securities with partial upside participation and partial principal return at maturity due Dec. 3, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above its initial level, the payout at maturity will be par plus 79% of the index return. Investors will be exposed to losses, subject to a minimum payout at maturity of $950 per $1,000 security.
Wells Fargo Securities, LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Market linked securities with partial upside participation and partial principal return at maturity
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Underlying index: | S&P 500
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Amount: | $1,055,000
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Maturity: | Dec. 3, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index finishes above its initial level, par plus 79% of the index return; exposure to losses, subject to minimum payout at maturity of $950 per $1,000 security
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Initial level: | 2,760.17
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Pricing date: | Nov. 30
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Settlement date: | Dec. 5
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Agent: | Wells Fargo Securities LLC
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Fees: | 1%
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Cusip: | 95001BBA1
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