By Wendy Van Sickle
Columbus, Ohio, April 10 – Wells Fargo & Co. priced $5 million of market-linked securities due April 1, 2021 – autocallable with contingent coupon and contingent downside linked to the least performing of the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at an annual rate of 12.5% if each index closes at or above its 85% coupon threshold on the observation date for that period.
The notes will be called at par if each index closes at or above its initial level on any observation date.
The payout at maturity will be par unless any index finishes below its 70% threshold, in which case the payout will be par plus the return of the worst performing index with full exposure to any losses.
Wells Fargo Securities LLC is the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Market linked securities – autocallable with contingent coupon and contingent downside
|
| Underlying indexes: | S&P 500 and Euro Stoxx 50
|
| Amount: | $5 million
|
| Maturity: | April 1, 2021
|
| Coupon: | 12.5% annualized, payable semiannually if each index closes at or above coupon threshold on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any index falls by more than 30%, in which case 1% loss per 1% decline of worst performing index
|
| Call: | At par if each index closes at or above its initial level on any interest payment date
|
| Initial levels: | 2,612.62 for S&P and 3,316.95 for Stoxx
|
| Coupon thresholds: | 2,220.727 for S&P and 2,819.4075 for Stoxx; 85% of initial levels
|
| Thresholds: | 1,828.834 for S&P and 2,321.865 for Stoxx; 70% of initial levels
|
| Pricing date: | March 27
|
| Settlement date: | April 2
|
| Agent: | Wells Fargo Securities LLC
|
| Fees: | 0.35%
|
| Cusip: | 95001B2W3
|
|
|
© 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.
