Published on 11/18/2011 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $4.61 million fixed-to-floating notes due 2015
By Angela McDaniels
Tacoma, Wash., Nov. 18 - Wells Fargo & Co. priced $4.61 million of fixed-to-floating-rate notes due May 21, 2015, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 1.5% for the first six months. After that, it will be Libor plus 50 basis points, subject to a maximum rate of 5% per year in each interest period. Interest is payable quarterly.
The payout at maturity will be par.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Fixed-to-floating-rate notes
|
| Amount: | $4,612,000
|
| Maturity: | May 21, 2015
|
| Coupon: | Initially 1.5%; beginning May 21, 2012, Libor plus 50 bps, up to maximum of 5% per year; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | Nov. 16
|
| Settlement date: | Nov. 21
|
| Agent: | Wells Fargo Securities, LLC
|
| Fees: | 0.9%
|
| Cusip: | 94986RGG0
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
