Published on 2/4/2019 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $3.84 million market-linked notes tied to SPDR S&P 500 ETF Trust
Chicago, Feb. 4 – Wells Fargo & Co. priced $3.84 million of 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Aug. 9, 2021 linked to the SPDR S&P 500 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 140% of any fund gain, subject to a 24% cap.
Investors will receive par if the fund falls by up to the 10% threshold price. If the fund falls by more than 10% investors will lose 1% for each 1% decline beyond the 10% buffer.
Wells Fargo Securities, LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside
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Underlying fund: | SPDR S&P 500 ETF trust
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Amount: | $3,841,000
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Maturity: | Aug. 9, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 140% of any fund gain, subject to a 24% cap; par if fund falls by up to 10%; 1% loss for each 1% fund decline beyond 10%
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Initial price: | $269.93
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Threshold level: | $242.937, 90% of initial price
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Pricing date: | Jan. 31
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Settlement date: | Feb. 7
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Agent: | Wells Fargo Securities, LLC
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Fees: | 1.825%
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Cusip: | 95001H2B6
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