New Issue: Wells Fargo prices $5.47 million 10-year step-up callable notes

By Marisa Wong

Madison, Wis., Oct. 29 - Wells Fargo & Co. priced $5.47 million of step-up callable notes due Oct. 31, 2033, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 4% for the first six years, stepping up to 4.25% for years seven through 12, to 4.5% for years 13 through 16, to 5% for years 17 through 18 and to 6% in years 19 and 20. Interest will be payable quarterly.

The payout at maturity will be par.

The notes will be callable at par on any interest payment date beginning Oct. 30, 2019.

Wells Fargo Securities, LLC is the agent.

Issuer:	Wells Fargo & Co.
Issue:	Step-up callable notes
Amount:	$5,472,000
Maturity:	Oct. 31, 2033
Coupon:	4% for first six years, stepping up to 4.25% for years seven through 12, to 4.5% for years 13 through 16, to 5% for years 17 through 18 and to 6% in years 19 and 20; payable quarterly
Price:	Par
Payout at maturity:	Par
Call option:	At par on any interest payment date beginning Oct. 30, 2019
Pricing date:	Oct. 25
Settlement date:	Oct. 30
Agent:	Wells Fargo Securities, LLC
Fees:	2%
Cusip:	94986RRV5

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