Wells Fargo to sell fixed-to-floating notes due 2028, 2033

By Mary-Katherine Stinson

Lexington, Ky., July 18 – Wells Fargo & Co. plans to sell medium-term series U senior fixed-to-floating rate notes due July 2028 and July 2033, according to a 424B2 filing with the Securities and Exchange Commission.

The 2028 notes will bear interest at a fixed rate from July 2022 until July 2027 and at a floating rate from July 2027 to maturity.

The 2028 notes are redeemable at a make-whole premium plus interest beginning July 2023 through July 2027. They will be redeemable in whole on the first par call date in July 2027 or in whole or in part after June 2028 at par plus interest in both cases.

The 2033 notes will bear interest at a fixed rate from July 2022 until July 2032 and at a floating rate from July 2032 to maturity.

The 2033 notes will be callable with a make-whole premium plus accrued interest starting July 2023 through July 2032. The notes may be redeemed in whole on the first par call date of July 2032 or in whole or in part on or after April 2033 at par plus interest in both cases.

Wells Fargo Securities LLC is the agent.

Computershare Trust Co., NA is the security registrar and paying agent.

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