Published on 1/26/2012 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $5.4 million fixed-to-floating notes due 2019
By Marisa Wong
Madison, Wis., Jan. 26 - Wells Fargo & Co. priced $5.4 million of fixed-to-floating notes due Jan. 28, 2019, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 3.5% for the first two years. Beginning Jan. 27, 2014, the interest rate will be Libor plus 60 basis points, subject to a maximum rate of 6.5% per year in each interest period. Interest is payable quarterly.
The payout at maturity will be par.
Wells Fargo Securities, LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Fixed-to-floating notes
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Amount: | $5.4 million
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Maturity: | Jan. 28, 2019
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Coupon: | Initially 3.5%; beginning Jan. 27, 2014, Libor plus 60 bps, subject to cap of 6.5% per year; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | Jan. 24
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Settlement date: | Jan. 27
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Agent: | Wells Fargo Securities, LLC
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Fees: | 1.2%
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Cusip: | 94986RHC8
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