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Wells Fargo to price senior floaters, fixed-to-floaters due 2028
By Marisa Wong
Los Angeles, March 17 – Wells Fargo & Co. plans to sell senior redeemable floating-rate notes due March 2028 and senior redeemable fixed-to-floating rate notes due March 2028, according to 424B2 filings with the Securities and Exchange Commission.
The interest rate for the floating-rate notes will be based on SOFR.
Interest for the fixed-to-floating rate notes will accrue at a fixed rate until March 2027, then at a rate based on SOFR.
The floaters are callable in whole in March 2027 or in whole or in part on or after February 2028, in each case at par.
The fixed-to-floaters are callable in whole or in part at any time at a make-whole price. They are also callable at par in whole in March 2027 or in whole or in part beginning in February 2028.
Wells Fargo Securities LLC is the bookrunner.
The notes will price and settle in March.
The bank is based in San Francisco.
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