Published on 7/23/2019 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $7.3 million digital securities linked to S&P 500
By Sarah Lizee
Olympia, Wash., July 23 – Wells Fargo Finance LLC priced $7.3 million 0% digital securities with buffered downside due June 28, 2021 linked to 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 index finishes at or above the 87.5% threshold level, the payout at maturity will be the maximum settlement amount of $1,125.50 for each $1,000 principal amount.
Otherwise, investors will lose 1.1429% for each 1% decline beyond 12.5%.
Wells Fargo Securities, LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Digital securities with buffered downside
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Underlying index: | S&P 500
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Amount: | $7,296,000
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Maturity: | June 28, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is greater than or equal to negative 12.5%, $1,125.50 per $1,000 principal amount; if index return is less than negative 12.5%, 1.1429% loss for every 1% that index declines beyond 12.5%
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Initial index level: | 2,976.61
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Buffer level: | 2,604.53375, 87.5% of initial level
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Pricing date: | July 19
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Settlement date: | July 26
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Agent: | Wells Fargo Securities, LLC
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Fees: | None
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Cusip: | 95001H6W6
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