Published on 6/19/2012 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo sells $8.08 million floating notes with 1.25% floor, 5% cap
By Susanna Moon
Chicago, June 19 - Wells Fargo & Co. priced $8.08 million of floating-rate notes due June 20, 2017, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be equal to Libor plus 55 basis points, with a minimum rate of 1.25% and up to a maximum 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: | Floating-rate notes
|
| Amount: | $8,082,000
|
| Maturity: | June 20, 2017
|
| Coupon: | Libor plus 55 bps, floor of 1.25% and capped at 5%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | June 15
|
| Settlement date: | June 20
|
| Agent: | Wells Fargo Securities, LLC
|
| Fees: | 0.85%
|
| Cusip: | 94986RKH3
|
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