Published on 12/11/2017 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo sells $1.99 million market-linked autocallables on Stoxx 50
By Marisa Wong
Morgantown, W.Va., Dec. 11 – Wells Fargo & Co. priced $1.99 million of 0% market linked securities – autocallable with fixed percentage downside due Dec. 7, 2020 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a call premium of 7.4% per year if the index closes at or above its initial price on any annual call date.
The payout at maturity will be par unless the index finishes below its 90% threshold, in which case investors will lose 1% for every 1% index decline beyond 10%.
Wells Fargo Securities, LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Market linked securities – autocallable with fixed percentage downside
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Underlying index: | Euro Stoxx 50
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Amount: | $1,992,000
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Maturity: | Dec. 7, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par unless the index falls by more than 10%, in which case 1% loss for every 1% decline beyond 10%
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Call: | At par plus a call premium of 7.4% per year if the index closes at or above its initial price on any annual call date
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Initial level: | 3,569.93
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Threshold: | 3,212.937, 90% of initial level
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Pricing date: | Nov. 30
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Settlement date: | Dec. 7
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Agent: | Wells Fargo Securities LLC
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Fees: | 1.825%
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Cusip: | 95000E3Y3
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