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 seven-year fixed-to-floaters with 2.5% initial rate
By Angela McDaniels
Tacoma, Wash., May 1 - Wells Fargo & Co. plans to price fixed-to-floating-rate notes due May 20, 2019, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 2.5% for the first two years. After that, it will be Libor plus 50 basis points, up to a maximum rate of 6% per year. Interest will be payable quarterly.
The payout at maturity will be par.
The notes (Cusip: 94986RJS1) are expected to price May 15 and settle May 18.
Wells Fargo Securities, LLC is the agent.
© 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.