Published on 9/20/2016 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $6.02 million 6.2% autocallables linked to Russell, iShares MSCI EAFE
By Angela McDaniels
Tacoma, Wash., Sept. 20 – Wells Fargo & Co. priced $6.02 million of autocallable market-linked securities with fixed coupon and buffered downside with multiplier due March 21, 2018 linked to the Russell 2000 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 6.2%, payable quarterly.
The notes will be automatically called at par if both underliers close at or above their initial levels on either of two call dates, which will fall in March 2017 and September 2017.
If each underlier finishes at or above its threshold level, 80% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1.25% for every 1% that the lesser-performing underlier declines beyond 20%.
Wells Fargo Securities LLC is the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Autocallable market-linked securities with fixed coupon and buffered downside with multiplier
|
| Underliers: | Russell 2000 index and iShares MSCI EAFE ETF
|
| Amount: | $6,016,000
|
| Maturity: | March 21, 2018
|
| Coupon: | 6.2%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | If each underlier finishes at or above threshold level, par; otherwise, 1.25% loss for every 1% that lesser-performing underlier declines beyond 20%
|
| Call: | Automatically at par if both underliers close at or above their initial levels on either of two call dates, which will fall in March 2017 and September 2017
|
| Initial levels: | 1,224.779 for index and $57.49 for ETF
|
| Threshold levels | : | 979.8232 for index and $45.992 for ETF; 80% of initial levels
|
| Pricing date: | Sept. 16
|
| Settlement date: | Sept. 21
|
| Agent: | Wells Fargo Securities LLC
|
| Fees: | 0.05%
|
| Cusip: | 94986RW80
|
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