Published on 1/30/2019 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $9.03 million leveraged market-linked notes with cap on S&P 500
By Wendy Van Sickle
Columbus, Ohio, Jan. 30 – Wells Fargo & Co. priced $9.03 million of 0% leveraged market-linked notes with leveraged upside participation to a cap and fixed percentage buffered downside due Feb. 2, 2021 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par plus 150% of any index gain, up to a maximum payout of par plus 20%.
Investors will receive par if the index falls by up to 22% and lose 1% for each 1% decline beyond 22%.
Wells Fargo Securities, LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Market-linked notes with leveraged upside participation to a cap and fixed percentage buffered downside
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Underlying index: | S&P 500
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Amount: | $9,029,000
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Maturity: | Feb. 2, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 150% of any index gain, with payout capped at par plus 20%; par if index falls by up to 22%; 1% loss for every 1% drop beyond 22%
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Initial level: | 2,643.85
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Threshold level: | 2,062.203, 78% of initial level
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Pricing date: | Jan. 28
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Settlement date: | Jan. 31
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Agents: | Wells Fargo Securities, LLC
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Fees: | 0%
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Cusip: | 95001BC93
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