Published on 7/18/2012 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $7 million of floating-rate notes due 2017
By Jennifer Chiou
New York, July 18 - Wells Fargo & Co. priced $7,005,000 of floating-rate notes due July 19, 2017, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be equal to Libor plus 55 basis points, up to a maximum rate of 5% and subject to a minimum of 1.2%. 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: | $7,005,000
|
| Maturity: | July 19, 2017
|
| Coupon: | Libor plus 55 basis points, subject to maximum coupon of 5% and minimum of 1.2%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | July 16
|
| Settlement date: | July 19
|
| Agent: | Wells Fargo Securities, LLC
|
| Fees: | 0.85%
|
| Cusip: | 94986RKM2
|
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