Wells Fargo stops issuance, remains active in distribution

Wells Fargo has stopped new issuance of structured products in the US market with SRP data recording no activity throughout 2021 after two years of diminishing issuance and sales. The bank issued 151 products in 2020 worth US$686m compared to 323 structures in 2019 worth US$ US$1.5 billion. The US bank however remains an active distributor of structured products in the retail market and has boosted its distribution of US structured products tied to index-baskets in the second quarter of 2021 wi