New Issue: Wells Fargo prices C$1 billion 3.874% 10-year notes at 208 bps spread

By Cristal Cody

Tupelo, Miss., May 13 – Wells Fargo & Co. priced C$1 billion of 3.874% 10-year subordinated medium-term notes at par on Wednesday, according to a market source and an FWP filing with the Securities and Exchange Commission.

Wells Fargo sold the series O notes (A3/A/DBRS: AA) at a spread of 208 basis points over the interpolated Government of Canada bond curve.

RBC Dominion Securities Inc., Wells Fargo Securities LLC, BMO Nesbitt Burns Inc. and TD Securities Inc. were the lead managers.

The retail, commercial and corporate banking services company is based in San Francisco.

Issuer:	Wells Fargo & Co.
Amount:	C$1 billion
Maturity:	May 21, 2025
Securities:	Subordinated medium-term notes
Bookrunners:	RBC Dominion Securities Inc., Wells Fargo Securities LLC, BMO Nesbitt Burns Inc., TD Securities Inc.
Co-managers:	CIBC World Markets Inc., Desjardins Securities Inc., National Bank Financial Inc., Scotia Capital Inc.
Coupon:	3.874%
Price:	Par
Yield:	3.874%
Spread:	208 bps over interpolated Government of Canada bond curve
Pricing date:	May 13
Settlement date:	May 21
Ratings:	Moody’s: A3
	Standard & Poor’s: A
	DBRS: AA
Distribution:	Canada private placement

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