By Toni Weeks
San Diego, March 2 - Wells Fargo & Co. priced $10 million of floating-rate notes due March 7, 2021 linked to Libor, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly and will equal Libor plus 100 basis points, subject to a minimum interest rate of 2% and a maximum interest rate of 7% per year.
The payout at maturity will be par plus accrued interest.
Wells Fargo Securities LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Floating-rate notes
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Amount: | $10 million
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Maturity: | March 7, 2021
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Coupon: | Libor plus 100 bps, with a minimum coupon of 2% and a maximum of 7%; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | Feb. 28
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Settlement date: | March 7
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Agent: | Wells Fargo Securities LLC
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Fees: | 1.5%
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Cusip: | 94986RCX7
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