Published on 2/28/2019 in the Prospect News Structured Products Daily.
New Issue: Wells sells $1.2 million leveraged market-linked notes on Russell
By Wendy Van Sickle
Columbus, Ohio, Feb. 28 – Wells Fargo & Co. priced $1.2 million of 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due March 2, 2021 linked to the Russell 2000 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 1.5 times the index return, up to a maximum gain of 20%.
If the index falls by up to 16%, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline of the index beyond 16%.
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 index: | Russell 2000
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Amount: | $1,198,000
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Maturity: | March 2, 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 1.5 times the index return, up to a maximum gain of 20%; if the index falls by up to 16%, par; otherwise, 1% loss for every 1% decline of the index beyond 16%
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Initial level: | 1,588.805
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Threshold level: | 1334.5962, 84% of initial level
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Pricing date: | Feb. 25
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Settlement date: | Feb. 28
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Agent: | Wells Fargo Securities LLC
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Fees: | 0%
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Cusip: | 95001BCK8
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