New Issue: Wells Fargo prices $10 million step-up callable notes with 2.5% initial rate

By Kiku Steinfeld

Chicago, June 22 – Wells Fargo & Co. priced $10 million of step-up callable notes due June 17, 2035, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is $10 million step-up callable notes with 2.5% initial rate, stepping up to 2.75% on June 17, 2028 and to 3.5% on June 17, 2032. Interest is payable monthly.

The payout at maturity will be par.

The notes will be callable at par quarterly after five years.

Wells Fargo Securities LLC is the agent.

Issuer:	Wells Fargo & Co.
Issue:	Step-up callable notes
Amount:	$10,000,000
Maturity:	June 17, 2035
Coupon:	2.5% initial rate, stepping up to 2.75% on June 17, 2028 and to 3.5% on June 17, 2032; payable monthly
Price:	Par; however, original offering price for eligible institutional investors will vary between $980 and par
Payout at maturity:	Par
Call option:	At par quarterly after five years
Pricing date:	June 15
Settlement date:	June 17
Agent:	Wells Fargo Securities, LLC
Fees:	2%
Cusip:	95001DAH3

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