By Marisa Wong
Madison, Wis., Nov. 2 - Wells Fargo & Co. priced $7 million of adjustable annual coupon notes due Nov. 5, 2017 linked to Libor, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable in November of each year. The coupon will be 1% if Libor is less than 1.5%, 3% if Libor is 1.5% to 3.99% and 6% if Libor is 4% or greater.
The payout at maturity will be par.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Adjustable annual coupon notes linked to Libor
|
| Amount: | $7 million
|
| Maturity: | Nov. 5, 2017
|
| Coupon: | 1% if Libor is less than 1.5%, 3% if Libor is 1.5% to 3.99% and 6% if Libor is 4% or greater; payable annually
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | Oct. 29
|
| Settlement date: | Nov. 5
|
| Underwriter: | Wells Fargo Securities LLC
|
| Fees: | 2%
|
| Cusip: | 94986RBH3
|
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