New Issue: Wells Fargo prices $9.46 million fixed-to-floaters with 3% initial rate

By Toni Weeks

San Diego, Dec. 27 - Wells Fargo & Co. priced $9.46 million of fixed-to-floating notes due Dec. 28, 2022, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be 3% for the first two years. After that, it will be equal to Libor plus 55 basis points, subject to a maximum interest rate of 5%. Interest is payable quarterly.

The payout at maturity will be par.

Wells Fargo Securities, LLC is the agent.

Issuer:	Wells Fargo & Co.
Issue:	Fixed-to-floating notes
Amount:	$9,464,000
Maturity:	Dec. 28, 2022
Coupon:	3% initially; after that, Libor plus 55 bps, subject to a maximum coupon of 5%; payable quarterly
Price:	Par
Payout at maturity:	Par
Pricing date:	Dec. 21
Settlement date:	Dec. 27
Agent:	Wells Fargo Securities, LLC
Fees:	1.1%
Cusip:	94986RMK4

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