New Issue: Wells Fargo prices $11.39 million step-up callable notes with 3.25% initial rate

By Susanna Moon

Chicago, May 30 - Wells Fargo & Co. priced $11.39 million of step-up callable notes due May 31, 2030, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 3.25% for the first six years, stepping up to 3.5% on May 28, 2019, 3.75% on May 28, 2024, to 4% on May 28, 2027 and to 6% on May 28, 2029. Interest is payable quarterly.

The payout at maturity will be par.

The notes will be callable at par on any quarterly redemption date after six years.

Wells Fargo Securities, LLC is the agent.

Issuer:	Wells Fargo & Co.
Issue:	Step-up callable notes
Amount:	$11,389,000
Maturity:	May 31, 2030
Coupon:	3.25% initially, stepping to 3.5% on May 28, 2019, 3.75% on May 28, 2024, to 4% on May 28, 2027 and to 6% on May 28, 2029; payable quarterly
Price:	Par
Call option:	At par on any quarterly redemption date beginning May 28, 2019
Payout at maturity:	Par
Pricing date:	May 28
Settlement date:	May 31
Agent:	Wells Fargo Securities, LLC
Fees:	1.9%
Cusip:	94986RPW5

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