Published on 3/30/2011 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $4.94 million floating-rate notes with 7% cap
By Susanna Moon
Chicago, March 30 - Wells Fargo & Co. priced $4.94 million of floating-rate notes due March 29, 2018, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be equal to Libor plus 75 basis points, up to a maximum rate of 7%. Interest is payable quarterly.
The payout at maturity will be par.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Floating-rate notes
|
| Amount: | $4,942,000
|
| Maturity: | March 29, 2018
|
| Coupon: | Libor plus 75 bps, capped at 7%; payable quarterly
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Pricing date: | March 28
|
| Settlement date: | March 31
|
| Agents: | Wells Fargo Securities, LLC
|
| Fees: | 1.25%
|
| Cusip: | 94986RCV1
|
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