Published on 12/12/2019 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $2.83 million buffered enhanced return notes linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, Dec. 12 – Wells Fargo Finance LLC priced $2.83 million of 0% buffered enhanced return securities with capped upside and buffered downside due Jan. 12, 2022 linked to the S&P 500 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 110% of the index return, subject to a maximum settlement amount of $1,154 per $1,000 principal amount of notes. Investors will receive par if the index declines by 20% or less and will lose 1.25% for every 1% that it may decline beyond 20%.
The notes are guaranteed by Wells Fargo & Co.
Wells Fargo Securities LLC is the agent.
Issuer: | Wells Fargo Finance LLC
|
Guarantor: | Wells Fargo & Co.
|
Issue: | Buffered enhanced return securities with capped upside and buffered downside
|
Underlying index: | S&P 500
|
Amount: | $2,826,000
|
Maturity: | Jan. 12, 2022
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If index’s final level is greater than initial level, par plus 110% of index return, subject to maximum settlement amount of $1,154 per $1,000 principal amount of notes; par if index declines by 20% or less; 1.25% loss for every 1% that index may decline beyond 20%
|
Initial level: | 3,093.2
|
Buffer level: | 2,474.56, or 80% of initial level
|
Pricing date: | Dec. 3
|
Settlement date: | Dec. 10
|
Agent: | Wells Fargo Securities, LLC
|
Fees: | 1.73%
|
Cusip: | 95001HCV1
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.