Published on 5/1/2019 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo sells $97,000 leveraged market-linked notes on S&P, Russell
By Sarah Lizee
Olympia, Wash., May 1 – Wells Fargo Finance LLC priced $97,000 of 0% market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside due Oct. 28, 2021 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Wells Fargo & Co.
The payout at maturity will be par plus 200% of any gain in the lesser performing index, capped at par plus 25%.
If the lesser performing index falls but not beyond 10%, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline in the lesser performing index beyond the buffer.
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 – leveraged upside participation to a cap and fixed percentage buffered downside
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $97,000
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Maturity: | Oct. 28, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any gain in lesser performing index, capped at par plus 25%; par if lesser performing index falls by up to 10%; otherwise, 1% loss for every 1% decline in lesser performing index beyond the buffer
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Initial level: | 2,926.17 for S&P, 1,575.612 for Russell
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Buffer level: | 2,633.553 for S&P, 1,418.0508 for Russell, 90% of initial level
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Pricing date: | April 25
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Settlement date: | April 30
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Agent: | Wells Fargo Securities LLC
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Fees: | 3%
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Cusip: | 95001H4N8
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