New Issue: Wells Fargo prices $25 million fixed-to-floaters with 2% initial rate

By Jennifer Chiou

New York, March 21 - Wells Fargo & Co. priced $25 million of fixed-to-floating notes due March 20, 2020, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be 2% for the first two years. After that, the rate will be Libor plus 60 basis points, subject to a maximum rate of 3% in year three, 3.5% in year four, 4% in year five, 4.5% in year six and 5% in year seven. 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:	$25 million
Maturity:	March 20, 2020
Coupon:	Initially 2%; beginning on March 20, 2015, Libor plus 60 basis points, subject to a maximum rate of 3% in year three, 3.5% in year four, 4% in year five, 4.5% in year six and 5% in year seven; payable quarterly
Price:	Par
Payout at maturity:	Par
Pricing date:	March 15
Settlement date:	March 20
Agent:	Wells Fargo Securities, LLC
Fees:	0.25%
Cusip:	94986RPA3

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