Wells Fargo plans to price seven-year capped floating-rate notes

By Jennifer Chiou

New York, March 15 - Wells Fargo & Co. plans to price floating-rate notes due March 29, 2018, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be Libor plus 75 basis points, subject to a cap of 7% per year in each interest period. Interest will be payable quarterly.

The payout at maturity will be par.

The notes (Cusip: 94986RCV1) will price on March 28 and settle on March 31.

Wells Fargo Securities LLC is the agent.

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