Wells Fargo to price capped, floored floating-rate notes due June 2017

By Marisa Wong

Madison, Wis., June 5 - Wells Fargo & Co. plans to price floating-rate notes due June 20, 2017, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will accrue at Libor plus 55 basis points, payable and reset quarterly. The coupon is subject to a floor of 1.25% and a cap of 5%.

The payout at maturity will be par.

The notes (Cusip: 94986RKH3) will price on June 15 and settle on June 20.

Wells Fargo Securities, LLC will be 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.