New Issue: Wells Fargo sells $5.95 million step-up callable notes with 4% initial rate

By Wendy Van Sickle

Columbus, Ohio, June 15 – Wells Fargo & Co. priced $5.95 million of step-up callable notes due Dec. 15, 2027, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 4% initially, stepping up to 5.25% on June 15, 2026 and to 6.5% on June 15, 2024. Interest is payable semiannually.

The notes will be callable at par semiannually starting Dec. 15, 2023.

The payout at maturity will be par.

Wells Fargo Securities LLC is the agent.

Issuer:	Wells Fargo & Co.
Issue:	Step-up callable notes
Amount:	$5,946,000
Maturity:	Dec. 15, 2027
Coupon:	4% initially, stepping up to 5.25% on June 15, 2026 and to 6.5% on Dec. 15, 2026; payable semiannually
Price:	Par
Payout at maturity:	Par
Call option:	At par semiannually starting June 15, 2024
Pricing date:	June 13
Settlement date:	June 15
Agent:	Wells Fargo Securities, LLC
Fees:	0.646%
Cusip:	95001DBV1

© 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.