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Wells Fargo to price capped floating-rate notes due May 2015
By Jennifer Chiou
New York, April 20 - Wells Fargo & Co. plans to price capped floating-rate notes due May 8, 2015, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at Libor plus 25 basis points, payable and reset quarterly. The coupon will be capped at 4% per year in any interest period.
The payout at maturity will be par.
The notes (Cusip: 94986RJN2) will price on April 30 and settle on May 8.
Wells Fargo Securities, LLC will be the agent.
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