Published on 5/15/2019 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo sells $225,000 four-year market-linked autocalls on S&P 500
By Wendy Van Sickle
Columbus, Ohio, May 15 – Wells Fargo & Co. priced $225,000 of 0% market linked securities – autocallable with fixed percentage buffered downside due May 8, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a 6% annualized premium if the index closes at or above its initial level on any annual call observation date.
The payout at maturity will be par unless the index falls by more than 10%, in which case investors will be exposed to any losses beyond 10%.
Wells Fargo Securities, LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Market linked securities – autocallable fixed percentage buffered downside Underlying index: | S&P 500
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Amount: | $225,000
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Maturity: | May 8, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par unless index falls by more than 10%, in which case 1% loss for every 1% decline beyond 10%
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Call: | At par plus 6% annualized call premium if index closes at or above initial level on any annual call observation date
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Initial level: | 2,954.83
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Threshold level: | 2,651.247, 90% 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: | 95001H4C2
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