Published on 10/27/2011 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $5.5 million floaters with 1.5% floor, 6% cap
By Susanna Moon
Chicago, Oct. 27 - Wells Fargo & Co. priced $5.5 million of floating-rate notes due Oct. 28, 2016, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be Libor plus 75 basis points, with a minimum interest rate of 1.5% and a maximum rate of 6%. Interest is payable quarterly.
The payout at maturity will be par.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Floating-rate notes
|
| Amount: | $5.5 million
|
| Maturity: | Oct. 28, 2016
|
| Coupon: | Libor plus 75 bps, floor of 1.5% and capped at 6%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | Oct. 25
|
| Settlement date: | Oct. 28
|
| Agent: | Wells Fargo Securities, LLC
|
| Fees: | 1.05%
|
| Cusip: | 94986RGC9
|
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