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Wells Fargo to offer fixed-to-floating rate callable notes due 2034
By Mary-Katherine Stinson
Lexington, Ky., April 17 – Wells Fargo & Co. will offer senior redeemable fixed- to-floating rate notes due April 2034 (Cusip: 95000U3D3), according to a 424B2 filing with the Securities and Exchange Commission.
It is expected that the medium-term notes, series W, will be issued at par.
The notes will be callable at a make-whole premium until a date in April 2033. On the first par call date in April 2033, the notes will be redeemable in full. They will be callable at par from a date in January 2034 to maturity.
The notes will bear interest at a fixed rate ending in April 2033, at which point the coupon will convert to an interest rate based on SOFR.
Wells Fargo Securities, LLC is the agent.
Computershare Trust Co., NA is the security agent and attorney-in-fact for Wells Fargo.
The financial services company is based in San Francisco.
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