Published on 4/12/2019 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo sells $19.84 million Leveraged Index Return Notes on index basket
By Marisa Wong
Morgantown, W.Va., April 12 – Wells Fargo & Co. priced $19.84 million of 0% Capped Leveraged Index Return Notes due March 26, 2021 linked to a basket of unequally weighted indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index with a 45% weight, the MSCI EAFE index with a 27.5% weight and the MSCI Emerging Markets index with a 27.5% weight.
The payout at maturity will be par plus 200% of any basket gain, capped at par plus 16.07%.
Investors will receive par if the basket falls by up to 10% and will be exposed to losses beyond 10%.
BofA Merrill Lynch is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Capped Leveraged Index Return Notes
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Underlying basket: | S&P 500 index (45% weight), MSCI EAFE index (27.5% weight) and MSCI Emerging Markets index (27.5% weight)
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Amount: | $19,837,410
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Maturity: | March 26, 2021
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 200% of any basket gain, capped at par plus 16.07%; par if basket falls by up to 10%; exposure to losses beyond 10%
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Initial index levels: | 2,815.44 for S&P, 1,865.86 for EAFE, 1,045.21 for EM
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Pricing date: | March 28
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Settlement date: | April 4
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Agent: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 94988U177
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