New Issue: Wells Fargo prices $7.55 million fixed-to-floaters due 2025 with 3.1% initial rate

By Toni Weeks

San Diego, Jan. 24 - Wells Fargo & Co. priced $7.55 million of fixed-to-floating notes due Jan. 27, 2025, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be 3.1% for the first two years. After that, the rate will be Libor plus 50 basis points, subject to a maximum rate of 6.5% in each interest period. Interest is payable quarterly.

The payout at maturity will be par.

Wells Fargo Securities, LLC is the agent.

Issuer:	Wells Fargo & Co.
Issue:	Fixed-to-floating notes
Amount:	$7,546,000
Maturity:	Jan. 27, 2025
Coupon:	3.1% initially; beginning Jan. 25, 2015, Libor plus 50 bps, subject to a maximum coupon of 6.5%; payable quarterly
Price:	Par
Payout at maturity:	Par
Pricing date:	Jan. 22
Settlement date:	Jan. 25
Agent:	Wells Fargo Securities, LLC
Fees:	1.2%
Cusip:	94986RMV0

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