New Issue: Wells Fargo prices $6.55 million 10-year fixed-to-floating notes with 2.8% initial rate

By Toni Weeks

San Luis Obispo, Calif., March 6 - Wells Fargo & Co. priced $6.55 million of fixed-to-floating notes due March 6, 2023, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 2.8% for the first two years. After that it will be equal to Libor plus 50 basis points, subject to a maximum rate of 9.25% 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:	$6.55 million
Maturity:	March 6, 2023
Coupon:	Initially 2.8%; beginning March 6, 2015, Libor plus 50 bps; maximum rate of 9.25%; payable quarterly
Price:	Par
Payout at maturity:	Par
Pricing date:	March 4
Settlement date:	March 6
Agent:	Wells Fargo Securities, LLC
Fees:	0.55%
Cusip:	94986RNW7

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