Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers W > Headlines for Wells Fargo & Co. > News item |
Wells Fargo plans 10-year fixed-to-floaters with 3% start rate, 7% cap
By Susanna Moon
Chicago, Oct. 22 - Wells Fargo & Co. plans to price fixed-to-floating notes due Nov. 7, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 3% for the first 18 years. After that, the rate will be Libor plus 50 basis points, up to a maximum rate of 7% 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 Oct. 31 and settle on Nov. 7.
The Cusip number is 94986RLY5.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.