By Sarah Lizee
Olympia, Wash., April 1 – Wells Fargo Finance LLC priced $3.26 million of 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due March 31, 2023 linked to a basket of exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Wells Fargo & Co.
The basket consists of the SPDR Dow Jones Industrial Average ETF Trust (50% weight), the SPDR S&P MidCap 400 ETF Trust (30% weight) and the iShares Russell 2000 ETF (20% weight).
The payout at maturity will be par plus 150% of any basket gain, subject to a 55% maximum gain.
Investors will receive par if the basket falls by up to 10% and will otherwise lose 1% for every 1% decline beyond 10%.
Wells Fargo Securities, LLC is the agent.
Issuer: | Wells Fargo Finance LLC
|
Guarantor: | Wells Fargo & Co.
|
Issue: | Market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside
|
Underlying basket: | SPDR Dow Jones Industrial Average ETF Trust (50% weight), the SPDR S&P MidCap 400 ETF Trust (30% weight) and the iShares Russell 2000 ETF (20% weight)
|
Amount: | $3,256,000
|
Maturity: | March 31, 2023
|
Price: | Par
|
Payout at maturity: | Par plus 150% of any basket gain, subject to 55% maximum gain; par if the basket falls by up to buffer level; otherwise 1% loss for every 1% decline beyond buffer
|
Initial levels: | $206.64 for Dow ETF, $245.29 for S&P ETF, $109.04 for Russell ETF
|
Buffer level: | 90% of initial basket level
|
Pricing date: | March 24
|
Settlement date: | March 31
|
Agent: | Wells Fargo Securities, LLC
|
Fees: | 2.075%
|
Cusip: | 95001HHE4
|
|
© 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.