By Andrea Heisinger
New York, Dec. 4 - Wells Fargo & Co. released terms for its $6 billion of notes (Aaa/AAA/AAA) backed by the Federal Deposit Insurance Corp. Temporary Liquidity Guarantee Program in two tranches, according to an FWP filing with the Securities and Exchange Commission.
The $3 billion of three-year floating-rate notes priced at par to yield three-month Libor plus 85 basis points.
The $3 billion of 3% three-year fixed-rate notes priced at 99.883 to yield 3.041%, or Treasuries plus 195 bps.
The non-callable notes will be guaranteed until their maturity.
Bookrunners were Banc of America Securities LLC, Goldman Sachs & Co., Morgan Stanley & Co. Inc. and UBS Investment Bank.
Co-managers were Wachovia Capital Markets and Wells Fargo Institutional Brokerage and Sales.
The bank and financial services company is based in San Francisco.
| Issuer: | Wells Fargo & Co.
|
| Guarantor: | Federal Deposit Insurance Corp.
|
| Issue: | FDIC-guaranteed notes
|
| Total amount: | $6 billion
|
| Bookrunners: | Banc of America Securities LLC, Goldman Sachs & Co., Morgan Stanley & Co. Inc., UBS Investment Bank
|
| Co-managers: | Wachovia Capital Markets, Wells Fargo Institutional Brokerage and Sales
|
| Trade date: | Dec. 3
|
| Settlement date: | Dec. 10
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
|
|
| Floating-rate notes
|
| Amount: | $3 billion
|
| Maturity: | Dec. 9, 2011
|
| Coupon: | Three-month Libor plus 85 bps
|
| Price: | Par
|
| Yield: | Three-month Libor plus 85 bps
|
| Call: | Non-callable
|
|
|
| Fixed-rate notes
|
| Amount: | $3 billion
|
| Maturity: | Dec. 9, 2011
|
| Coupon: | 3%
|
| Price: | 99.883
|
| Yield: | 3.041%
|
| Spread: | Treasuries plus 195 bps
|
| Call: | Non-callable
|
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