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Wells Fargo to price 10-year floating-rate notes linked to CPI
By Angela McDaniels
Tacoma, Wash., Dec. 2 - Wells Fargo & Co. plans to price floating-rate notes due Dec. 11, 2023 linked to the Consumer Price Index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly and will be equal to the year-over-year change in the Consumer Price Index plus 85 bps, subject to a floor of zero.
The payout at maturity will be par.
Wells Fargo Securities, LLC is the agent.
The notes are expected to price Dec. 6 and settle Dec. 11.
The Cusip number is 94986RSD4.
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