Published on 9/5/2019 in the Prospect News Structured Products Daily.
New Issue: Wells prices $15.61 million Leveraged Index Return Notes on basket
By Sarah Lizee
Olympia, Wash., Sept. 5 – Wells Fargo Finance LLC priced $15.61 million of 0% Leveraged Index Return Notes due Aug. 27, 2021 linked to a basket of unequally weighted indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Wells Fargo & Co.
The basket consists of the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei Stock Average index with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the Hang Seng index with a 5% weight.
The payout at maturity will be par plus 131.31% of any basket gain.
Investors will receive par if the basket falls by up to 10% and will be exposed to losses beyond 10%.
BofA Securities, Inc. is the agent.
Issuer: | Wells Fargo Finance LLC
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Guarantor: | Wells Fargo & Co.
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Issue: | Leveraged Index Return Notes
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Underlying basket: | Euro Stoxx 50 (40% weight), FTSE 100 (20% weight), Nikkei Stock Average (20% weight), Swiss Market (7.5% weight), S&P/ASX 200 (7.5% weight) and Hang Seng (5% weight)
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Amount: | $15,614,420
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Maturity: | Aug. 27, 2021
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 131.31% of any basket gain; par if basket falls by up to 10%; exposure to losses beyond 10%
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Initial index levels: | 3,411.33 for Stoxx, 7,184.32 for FTSE, 20,460.93 for Nikkei, 9,838.48 for Swiss, 6,507.395 for S&P/ASX, 25,703.50 for Hang Seng
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Pricing date: | Aug. 29
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Settlement date: | Sept. 6
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Agent: | BofA Securities, Inc.
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Fees: | 2%
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Cusip: | 94988U177
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