Published on 3/4/2019 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo sells $587,000 market-linked notes with no cap on S&P
By Wendy Van Sickle
Columbus, Ohio, March 4 – Wells Fargo Finance LLC priced $587,000 of 0% market-linked notes with upside participation and fixed percentage buffered downside due March 4, 2024 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by Wells Fargo & Co.
The payout at maturity will be par plus 100% of any index gain.
Investors will receive par if the index falls by up to 40% and lose 1% for each 1% index decline beyond 40%.
Wells Fargo Securities, LLC is the agent.
Issuer: | Wells Fargo Finance LLC
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Guarantor: | Wells Fargo & Co.
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Issue: | Market-linked notes with upside participation and fixed percentage buffered downside
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Underlying index: | S&P 500
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Amount: | $587,000
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Maturity: | March 4, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 100% of any index gain; par if index falls by up to 40%; 1% loss for each 1% decline beyond 40%
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Initial level: | 2,792.38
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Threshold level: | 1,675.428, 60% of initial level
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Pricing date: | Feb. 27
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Settlement date: | March 4
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Agents: | Wells Fargo Securities, LLC
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Fees: | 1%
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Cusip: | 95001H2W0
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