Published on 12/15/2011 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $5.5 million fixed-to-floating notes due 2016
By Angela McDaniels
Tacoma, Wash., Dec. 15 - Wells Fargo & Co. priced $5.5 million of fixed-to-floating-rate notes due Dec. 16, 2016, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 2% for the first year. Beginning Dec. 16, 2012, the interest rate will be Libor plus 100 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.
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Issue: | Fixed-to-floating-rate notes
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Amount: | $5.5 million
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Maturity: | Dec. 16, 2016
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Coupon: | Initially 2%; beginning Dec. 16, 2012, Libor plus 100 bps, subject to cap of 5% per year; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | Dec. 13
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Settlement date: | Dec. 16
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Agent: | Wells Fargo Securities, LLC
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Fees: | 1.05%
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Cusip: | 94986RGN5
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