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Wells Fargo to price eight-year floating-rate notes linked to CPI
By Toni Weeks
San Diego, April 29 - Wells Fargo & Co. plans to price floating-rate notes due May 2019 linked to the Consumer Price Index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly and will be equal to the year-over-year change in the Consumer Price Index plus 60 basis points to 75 bps, subject to a floor of 0% and a cap of 8.5%.
The payout at maturity will be par.
The notes (Cusip: 94986RDN8) are expected to settle in May.
Wells Fargo Securities, LLC will be the agent.
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