Published on 7/4/2019 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo sells $808,000 buffered enhanced return notes on EAFE index
By Kiku Steinfeld
Chicago, July 5 – Wells Fargo Finance LLC priced $808,000 of 0% buffered enhanced return securities with capped upside and buffered downside due Nov. 10, 2020 linked to the MSCI EAFE index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Wells Fargo & Co.
If the index return finishes above is initial level, the payout at maturity will be par plus 150% of the index return, capped at par plus 113.47%.
If the index return finishes flat or falls by 10% or less, investors will receive par and will lose 1.1111% for every 1% decline beyond 10%.
Wells Fargo Securities, LLC is the agent.
Issuer: | Wells Fargo Finance LLC
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Issue: | Buffered enhanced return securities
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Underlying index: | MSCI EAFE index
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Amount: | $808,000
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Maturity: | Nov. 10, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index return finishes above is initial level, par plus 150% of the index return, capped at par plus 113.47%; par if index return is flat or falls by 10% or less; 1.1111% loss for every 1% decline beyond 10%
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Initial level: | $1,825.98
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Buffer level: | $1,643.382, 90% of initial level
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Pricing date: | May 30
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Settlement date: | June 6
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Underwriter: | Wells Fargo Securities, LLC
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Fees: | 0%
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Cusip: | 95001H5R8
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