Published on 7/8/2019 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $13.36 million buffered enhanced return notes linked to MSCI EAFE
By Angela McDaniels
Tacoma, Wash., July 8 – Wells Fargo Finance LLC priced $13.36 million of 0% buffered enhanced return securities with capped upside and buffered downside due July 23, 2021 linked to the MSCI EAFE index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index’s final level is greater than the initial level, the payout at maturity will be par plus 200% of the index return, subject to a maximum settlement amount of $1,210 per $1,000 principal amount of notes. Investors will receive par if the index declines by 10% or less and will lose 1.1111% for every 1% that it declines beyond 10%.
The notes are guaranteed by Wells Fargo & Co.
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: | Buffered enhanced return securities with capped upside and buffered downside Underlying index: MSCI EAFE
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Amount: | $13,355,000
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Maturity: | July 23, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index’s final level is greater than initial level, par plus 200% of index return, subject to maximum settlement amount of $1,210 per $1,000 principal amount of notes; par if index declines by 10% or less; 1.1111% loss for every 1% that index may decline beyond 10%
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Initial index level: | 1,945.48
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Buffer level: | 1,750.932, or 90% of initial level
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Pricing date: | July 3
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Settlement date: | July 11
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Agent: | Wells Fargo Securities, LLC
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Fees: | 2%
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Cusip: | 95001H6L0
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