Published on 4/5/2016 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $21.71 million digital securities tied to S&P 500
By Marisa Wong
Morgantown, W.Va., April 5 – Wells Fargo & Co. priced $21.71 million of 0% digital securities with buffered downside due April 5, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is at least negative 15%, the payout at maturity will be the maximum settlement amount of $1,102 per $1,000 of notes.
If the index declines by more than 15%, the investors will lose 1.1765% for every 1% decline in the index beyond the 15% buffer.
Wells Fargo Securities, LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Digital securities with buffered downside
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Underlying index: | S&P 500
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Amount: | $21,712,000
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Maturity: | April 5, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is at least negative 15%, $1,102 per $1,000 of notes; if index declines by more than 15%, 1.1765% loss for every 1% index decline beyond 15% buffer
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Initial index level: | 2,059.74
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Pricing date: | March 31
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Settlement date: | April 7
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Agent: | Wells Fargo Securities, LLC
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Fees: | 1.47%
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Cuisp: | 94986RJ36
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