Published on 6/13/2019 in the Prospect News Structured Products Daily.
New Issue: Wells prices $4.19 million contingent market-linked notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, June 13 – Wells Fargo Finance LLC priced $4.19 million of market-linked securities due Dec. 4, 2020 – contingent fixed return and buffered downside with multiplier linked to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Wells Fargo & Co.
If the least performing index gains or finishes flat, the payout will be par plus 14.2%.
If the least performing index declines by up to 20%, the payout will be par.
Otherwise, investors will lose 1.25% for each 1% decline of the least performing 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 – contingent fixed return and buffered downside with multiplier
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Underlying indexes: | Russell 2000 and S&P 500
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Amount: | $4,193,000
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Maturity: | Dec. 4, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If least performing index gains or finishes flat, par plus 14.2%; if the least performing index declines by up to 20%, par; otherwise, 1.25% loss for each 1% decline of the least performing index beyond 20%
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Initial levels: | 2,788.86 for S&P, 1,485.531 for Russell
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Threshold level: | 2,231.088 for S&P, 1,188.4248 for Russell, 80% of initial level
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Pricing date: | May 31
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Settlement date: | June 5
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Agent: | Wells Fargo Securities LLC
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Fees: | 0.5%
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Cusip: | 95001H5V9
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