New Issue: Wells Fargo prices $19.99 million step-up callable notes with 1% initial rate

By Sarah Lizee

Olympia, Wash., July 7 – Wells Fargo & Co. priced $19.99 million of step-up callable notes due Dec. 30, 2023, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 1% initially, stepping up to 1.5% on Dec. 30, 2021 and to 2% on June 30, 2023. Interest is payable monthly.

The payout at maturity will be par.

The notes will be callable at par quarterly after one year.

Wells Fargo Securities LLC is the agent.

Issuer:	Wells Fargo & Co.
Issue:	Step-up callable notes
Amount:	$19,989,000
Maturity:	Dec. 30, 2023
Coupon:	1% initially, stepping up to 1.5% on Dec. 30, 2021 and to 2% on June 30, 2023; payable monthly
Price:	Par; however, original offering price for eligible institutional investors will vary between $995.50 and par
Payout at maturity:	Par
Call option:	At par quarterly after one year
Pricing date:	June 26
Settlement date:	June 30
Agent:	Wells Fargo Securities, LLC
Fees:	0.45%
Cusip:	95001DAJ9

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