Published on 1/10/2019 in the Prospect News Structured Products Daily.
New Issue: Wells prices $1.02 million market-linked autocalls on Energy Select Sector
By Wendy Van Sickle
Columbus, Ohio, Jan. 10 – Wells Fargo & Co. priced $1.02 million of market-linked securities due Jan. 4, 2021 – autocallable with fixed percentage buffered downside linked to the Energy Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 10.3% if the fund closes at or above its initial level on Jan. 6, 2020, July 6, 2020 or Dec. 24, 2020.
If the notes are not called, the payout at maturity will be par unless the fund finishes below its 90% threshold, in which case investors will be exposed to any decline beyond the 10% buffer.
Wells Fargo Securities LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Market-linked securities – autocallable with fixed percentage buffered downside
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Underlying ETF: | Energy Select Sector SPDR Fund
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Amount: | $1,018,000
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Maturity: | Jan. 4, 2021
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Coupon: | 0%
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Price: | Par
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Call: | At par plus an annual call premium of 10.3% if the fund closes at or above its initial level on Jan. 6, 2020, July 6, 2020 or Dec. 24, 2020
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Payout at maturity: | Par unless the ETF finishes below its 90% downside threshold, in which case exposure to any decline beyond the 10% buffer
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Initial level: | $57.05
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Threshold price: | $51.345, 90% of initial price
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Pricing date: | Dec. 28
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Settlement date: | Jan. 3
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Agents: | Wells Fargo Securities, LLC
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Fees: | 1.575%
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Cusip: | 95001BB45
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