Published on 12/12/2019 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $4.34 million enhanced return notes linked to S&P/TSX 60
By Wendy Van Sickle
Columbus, Ohio, Dec. 12 – Wells Fargo Finance LLC priced $4.34 million of 0% enhanced return securities with capped upside and 1-to-1 downside exposure due June 7, 2021 linked to the S&P/TSX 60 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 300% of the index return, subject to a maximum settlement amount of $1,228 per $1,000 principal amount of notes. Investors will be fully exposed to any decline in the index.
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: | Enhanced return securities with capped upside and 1-to-1 downside exposure
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Underlying index: | S&P/TSX 60
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Amount: | $4,335,000
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Maturity: | June 7, 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 300% of index return, subject to maximum settlement amount of $1,1228 per $1,000 principal amount; full exposure to loss
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Initial level: | 758.873303
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Buffer level: | 2,474.56, or 80% of initial level
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Pricing date: | Dec. 3
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Settlement date: | Dec. 10
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Agent: | Wells Fargo Securities, LLC
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Fees: | 1.67%
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Cusip: | 95001HCU3
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