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Wells Fargo plans to price fixed-to-floating notes with 5% cap
By Toni Weeks
San Diego, Nov. 3 - Wells Fargo & Co. plans to price fixed-to-floating notes due May 21, 2015 linked to Libor, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 1.5% for the first six months. After that, it will be Libor plus 50 basis points, up to a maximum rate of 5% in each interest period.
Interest is payable quarterly.
The payout at maturity will be par.
Wells Fargo Securities, LLC is the agent.
The notes (Cusip: 94986RGG0) will price Nov. 16 and settle Nov. 21.
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