Wells Fargo plans seven-year fixed-to-floating notes with 5.75% cap

By Susanna Moon

Chicago, June 9 - Wells Fargo & Co. plans to price fixed-to-floating-rate notes due June 30, 2018 linked to Libor, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 2% for the first year. After that, it will be Libor plus 75 basis points, up to a maximum rate of 5.75% in each interest period. Interest is payable quarterly.

The payout at maturity will be par.

Wells Fargo Securities LLC is the agent.

The notes will price on June 27 and settle on June 30.

The Cusip is 94986REF4.

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