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Wells Fargo plans 10-year step-up callable notes at 2.25% initial rate
By Susanna Moon
Chicago, Oct. 18 - Wells Fargo & Co. plans to price step-up callable notes due Oct. 28, 2021, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 2.25% for the first three years, 3.5% for years four through six, 4.5% for years seven through eight and 6.5% for years nine and 10. Interest will be payable quarterly.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date after three years.
Wells Fargo Securities, LLC is the agent.
The notes will price on Oct. 25 and settle on Oct. 28.
The Cusip number is 94986RGB1.
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