Published on 9/27/2012 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $52.19 million step-up callable notes due 2029 with 3% initial rate
By Toni Weeks
San Diego, Sept. 27 - Wells Fargo & Co. priced $52.19 million of step-up callable notes due Sept. 28, 2029, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 3% for the first five years, stepping up to 3.5% on Sept. 28, 2017, to 4% on Sept. 28, 2022, to 4.5% on Sept. 28, 2025 and to 6% on Sept. 28, 2027. Interest is payable quarterly.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date after five years.
Wells Fargo Securities, LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Step-up callable notes
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Amount: | $52,186,000
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Maturity: | Sept. 28, 2029
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Coupon: | 3% initially, stepping up to 3.5% on Sept. 28, 2017, to 4% on Sept. 28, 2022, to 4.5% on Sept. 28, 2025 and to 6% on Sept. 28, 2027; payable quarterly
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Price: | Par
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Call option: | At par on any interest payment date beginning Sept. 28, 2017
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Payout at maturity: | Par
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Pricing date: | Sept. 25
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Settlement date: | Sept. 28
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Agent: | Wells Fargo Securities, LLC
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Fees: | 1.85%
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Cusip: | 94986RLQ2
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