By Andrea Heisinger
Omaha, Jan. 25 - Wells Fargo & Co. priced $4.5 billion of notes (Aa1/AA+) in two tranches Friday, an informed source said.
A $1.5 billion tranche of two-year floating-rate notes priced at par to yield three-month Libor plus 43 basis points.
A $3 billion tranche of 4.375% five-year notes priced at 99.694 to yield 4.444%, or Treasuries plus 167 bps.
Citigroup Global Markets Inc., J.P. Morgan Securities Inc. and Morgan Stanley & Co. Inc. were bookrunners.
Co-managers were Wells Fargo Brokerage Services, LLC, Bear Stearns & Co. Inc. and Credit Suisse Securities LLC.
The bank is based in San Francisco.
| Issuer: | Wells Fargo & Co.
|
| Total amount: | $4.5 billion
|
| Bookrunners: | Citigroup Global Markets Inc., J.P. Morgan Securities Inc., Morgan Stanley & Co. Inc.
|
| Co-managers: | Wells Fargo Brokerage Services, LLC, Bear Stearns & Co. Inc. and Credit Suisse Securities LLC
|
| Trade date: | Jan. 25
|
| Settlement date: | Jan. 31
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA+
|
|
|
| Two-year tranche
|
| Amount: | $1.5 billion
|
| Issue: | Floating-rate notes
|
| Maturity: | Jan. 29, 2010
|
| Coupon: | Three-month Libor plus 43 bps
|
| Price: | Par
|
| Yield: | Three-month Libor plus 43 bps
|
|
|
| Five-year tranche
|
| Amount: | $3 billion
|
| Issue: | Notes
|
| Maturity: | Jan. 31, 2013
|
| Coupon: | 4.375%
|
| Price: | 99.694
|
| Yield: | 4.444%
|
| Spread: | Treasuries plus 167 bps
|
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