Published on 3/26/2019 in the Prospect News Structured Products Daily.
New Issue: Wells sells $403,000 leveraged market-linked notes on Russell 2000
By Sarah Lizee
Olympia, Wash., March 26 – Wells Fargo Finance LLC priced $403,000 of 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due March 29, 2023 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Wells Fargo & Co.
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 33%.
If the index falls by up to 20%, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline of the index beyond 20%.
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 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: | $403,000
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Maturity: | March 29, 2023
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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 33%; if the index falls by up to 20%, par; otherwise, 1% loss for every 1% decline of the index beyond 20%
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Initial level: | 1,505.923
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Threshold level: | 1,204.7384, 80% of initial level
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Pricing date: | March 22
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Settlement date: | March 29
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Agent: | Wells Fargo Securities LLC
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Fees: | 3.15%
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Cusip: | 95001H3E9
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