Published on 4/29/2019 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo sells $1.59 million buffered enhanced return notes on index basket
By Marisa Wong
Morgantown, W.Va., April 29 – Wells Fargo & Co. priced $1.59 million of buffered enhanced return securities with capped upside and buffered downside due Sept. 25, 2020 linked to an international equity index basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 36% weight, the Topix index with a 27% weight, the FTSE 100 index with a 20% weight, the Swiss Market index with a 9% weight and the S&P/ASX 200 index with an 8% weight.
If the basket return is positive, the payout at maturity will be par plus 220% of the basket gain, subject to a maximum payment of par plus 19.8%. Investors will receive par if the basket falls by up to 15% and lose 1.1765% for every 1% decline beyond 15%.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo & Co.
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| Issue: | Buffered enhanced return securities with capped upside and buffered downside
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| Underlying basket: | Euro Stoxx 50 index with a 36% weight, Topix index with a 27% weight, FTSE 100 index with a 20% weight, Swiss Market index with a 9% weight and S&P/ASX 200 index with an 8% weight
|
| Amount: | $1,592,000
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| Maturity: | Sept. 25, 2020
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | Par plus 220% of any basket gain, capped at par plus 19.8%; par if the basket falls by up to 15%; 1.1765% loss for every 1% basket decline beyond 15%
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| Initial index levels: | 3,395.70 for Stoxx, 1,611.69 for Topix, 7,391.12 for FTSE, 9,536.57 for Swiss and 6,242.360 for S&P/ASX
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| Pricing date: | April 2
|
| Settlement date: | April 9
|
| Agent: | Wells Fargo Securities, LLC
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| Fees: | None
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| Cusip: | 95001H4A6
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