New Issue: Wells Fargo prices $19.26 million step-up callable notes due 2030 with 3% initial rate

By Angela McDaniels

Tacoma, Wash., April 29 - Wells Fargo & Co. priced $19.26 million of step-up callable notes due April 30, 2030, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 3% in years one through six, 3.25% in years seven through 11, 3.5% in years 12 and 13, 4% in years 14 and 15 and 5% in years 16 and 17. Interest is payable quarterly.

The payout at maturity will be par.

Beginning six years after issuance, the notes will be callable at par on any quarterly redemption date.

Wells Fargo Securities, LLC is the agent.

Issuer:	Wells Fargo & Co.
Issue:	Step-up callable notes
Amount:	$19,264,000
Maturity:	April 30, 2030
Coupon:	3% in years one through six, 3.25% in years seven through 11, 3.5% in years 12 and 13, 4% in years 14 and 15 and 5% in years 16 and 17; payable quarterly
Price:	Par
Call option:	At par on any quarterly redemption date beginning April 30, 2019
Payout at maturity:	Par
Pricing date:	April 25
Settlement date:	April 30
Agent:	Wells Fargo Securities, LLC
Fees:	1.85%
Cusip:	94986RPM7

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