Published on 7/20/2015 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $3.13 million leveraged notes with contingent downside linked to ETFs
By Angela McDaniels
Tacoma, Wash., July 20 – Wells Fargo & Co. priced $3.13 million of 0% market-linked securities with leveraged upside participation and contingent downside due July 22, 2019 linked to the worst performing of the iShares MSCI EAFE exchange-traded fund and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of the worst-performing ETF is greater than zero, the payout at maturity will be par plus 248% of that ETF’s return. If the return of the worst-performing ETF is less than or equal to zero but greater than or equal to negative 30%, the payout will be par. If the worst-performing ETF declines by more than 30%, investors will be fully exposed to that ETF’s decline from its initial level.
Wells Fargo Securities LLC is the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Market-linked securities with leveraged upside participation and contingent downside
|
| Underlying ETFs: iShares MSCI EAFE and the iShares MSCI Emerging Markets
|
| Amount: | $3,126,000
|
| Maturity: | July 22, 2019
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If return of worst-performing ETF is greater than zero, par plus 248% of that ETF’s return; if return of worst-performing ETF is less than or equal to zero but greater than or equal to negative 30%, par; if worst-performing ETF declines by more than 30%, full exposure to that ETF’s decline from initial level
|
| Initial share prices: | $65.40 for EAFE ETF and $38.81 for EM ETF
|
| Pricing date: | July 16
|
| Settlement date: | July 21
|
| Agent: | Wells Fargo Securities LLC
|
| Fees: | 0.25%
|
| Cusip: | 94986RXV8
|
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