Wells Fargo gears up to issue fixed-to-floating medium-term notes

Chicago, Jan. 16 – Wells Fargo & Co. is offering senior redeemable fixed-to-floating rate notes due in January 2030 and in January 2035, according to 424B2 filing with the Securities and Exchange Commission on Tuesday morning.

After one year, each series becomes callable with a make-whole premium.

One year before each maturity date, the notes are callable at par. Then, the notes are freely callable at par starting in December 2029 for the notes due in 2030 and in October 2034 for the notes due in 2035.

For each of the notes, the initial rate will reset on the first par call dates to SOFR plus a spread.

Wells Fargo Securities, LLC is the bookrunner.

The financial services company is based in San Francisco.

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