Published on 3/2/2012 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $9.09 million fixed-to-floating notes due 2019
By Marisa Wong
Madison, Wis., March 2 - Wells Fargo & Co. priced $9.09 million of fixed-to-floating notes due March 5, 2019, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 2.5% for the first two years. After that, the interest rate will be Libor plus 50 basis points, subject to a maximum rate of 6% 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.
|
| Issue: | Fixed-to-floating notes
|
| Amount: | $9.09 million
|
| Maturity: | March 5, 2019
|
| Coupon: | Initially 2.5%; beginning March 5, 2014, Libor plus 50 bps, subject to cap of 6% per year; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | Feb. 29
|
| Settlement date: | March 5
|
| Agent: | Wells Fargo Securities, LLC
|
| Fees: | 1.05%
|
| Cusip: | 94986RHQ7
|
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