Published on 5/8/2019 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo sells $6.12 million upside participation market-linked notes on S&P
By Wendy Van Sickle
Columbus, Ohio, May 8 – Wells Fargo Finance LLC priced $6.12 million of 0% market-linked securities –leveraged upside participation to a cap and buffered downside due May 7, 2021 linked to 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 1.25 times any gain in the index, capped at par plus 13%.
Investors will receive par if the index falls by up to 15% and will lose 1% for each 1% index decline beyond 15%.
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 buffered downside
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Underlying index: | S&P 500
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Amount: | $6,116,000
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Maturity: | May 7, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.25 times any gain index, capped at par plus 13%; par if the index falls by up to 15%; 1% loss for each 1% index decline beyond 15%
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Initial level: | 2,945.83
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Threshold level: | 2,503.9555, 85% of initial level
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Pricing date: | April 30
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Settlement date: | May 7
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Agent: | Wells Fargo Securities LLC
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Fees: | 1.825%
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Cusip: | 95001H4B4
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