Published on 12/11/2019 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo sells $62.58 million capped leveraged index return notes on S&P
By Sarah Lizee
Olympia, Wash., Dec. 11 – Wells Fargo Finance LLC priced $62.58 million of 0% Capped Leveraged Index Return Notes due Jan. 29, 2021 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index gain, capped at 7.8%.
Investors will receive par if the index falls by up to 5% and will lose 1% for every 1% decline beyond 5%.
The notes are guaranteed by Wells Fargo & Co.
BofA Securities, Inc. is the agent.
Issuer: | Wells Fargo Finance LLC
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Guarantor: | Wells Fargo & Co.
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Issue: | Capped Leveraged Index Return Notes
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Underlying index: | S&P 500
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Amount: | $62,584,530
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Maturity: | Jan. 29, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any index gain, capped at 7.8%; par if index falls by up to 5%; 1% loss for every 1% decline beyond 5%
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Initial value: | 3,140.52
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Buffer value: | 2,983.49, 95% of initial value
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Pricing date: | Nov. 26
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Settlement date: | Dec. 4
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Agent: | BofA Securities, Inc.
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Fees: | 2%
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Cusip: | 95002W818
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