New Issue: Wells Fargo prices $15.09 million step-up callable notes with 1% initial rate

By Sarah Lizee

Olympia, Wash., July 17 – Wells Fargo & Co. priced $15.09 million of step-up callable notes July 17, 2024, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 1% initially, stepping up to 1.25% on Jan. 17, 2022. Interest is payable monthly.

The payout at maturity will be par.

The notes will be callable at par quarterly starting July 17, 2021.

Wells Fargo Securities LLC is the agent.

Issuer:	Wells Fargo & Co.
Issue:	Step-up callable notes
Amount:	$15,089,000
Maturity:	July 17, 2024
Coupon:	1% initially, stepping up to 1.25% on Jan. 17, 2022; payable monthly
Price:	Par; however, original offering price for eligible institutional investors will vary between $995 and par
Payout at maturity:	Par
Call option:	At par quarterly starting July 17, 2021
Pricing date:	July 15
Settlement date:	July 17
Agent:	Wells Fargo Securities, LLC
Fees:	0.5%
Cusip:	95001DAV2

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.