By Aleesia Forni
Virginia Beach, Oct. 21 - Wells Fargo & Co. priced $3.5 billion of notes on Monday in two tranches, according to an informed source.
There was $1.5 billion of 2.15% notes due 2019 priced with a spread of Treasuries plus 85 basis points.
A $2 billion tranche of 5.375% notes due 2043 was priced with a spread of 170 bps over Treasuries.
Both tranches sold in line with guidance.
Full details were not available at press time.
The financial services company is based in San Francisco.
| Issuer: | Wells Fargo & Co.
|
| Description: | Notes
|
| Amount: | $3.5 billion
|
| Bookrunner: | Wells Fargo Securities LLC
|
| Trade date: | Oct. 21
|
|
|
| Notes due 2019
|
| Amount: | $1.5 billion
|
| Maturity: | 2.15%
|
| Coupon: | 2019
|
| Spread: | Treasuries plus 85 bps
|
| Price talk: | Treasuries plus 85 bps area
|
|
|
| Notes due 2043
|
| Amount: | $2 billion
|
| Maturity: | 2043
|
| Coupon: | 5.375%
|
| Spread: | Treasuries plus 170 bps
|
| Price talk: | Treasuries plus 170 bps area
|
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