Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers W > Headlines for Wells Fargo & Co. > News item |
Wells Fargo plans 10-year fixed-to-floaters with 3% initial rate
By Jennifer Chiou
New York, May 7 - Wells Fargo & Co. plans to price fixed-to-floating notes due May 24, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 3% for the first year. After that, the rate will be Libor plus 75 basis points, subject to a maximum rate of 5%. Interest is payable quarterly.
The payout at maturity will be par.
The notes (Cusip: 94986RPU9) are expected to price on May 21 and settle on May 24.
Wells Fargo Securities, LLC is the agent.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.