Published on 6/25/2013 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $3.23 million step-up callable notes due 2030 with 3.75% initial rate
By Toni Weeks
San Luis Obispo, Calif., June 25 - Wells Fargo & Co. priced $3.23 million of step-up callable notes due June 28, 2030, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 3.75% for the first six years, stepping up to 4% on June 27, 2019, to 5% on June 27, 2024, to 6% on June 27, 2027 and to 7% on June 27, 2029. Interest is payable quarterly.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date after six years.
Wells Fargo Securities, LLC is the agent.
Issuer: | Wells Fargo & Co.
|
Issue: | Step-up callable notes
|
Amount: | $3,228,000
|
Maturity: | June 28, 2030
|
Coupon: | 3.75% initially, stepping up to 4% on June 27, 2019, to 5% on June 27, 2024, to 6% on June 27, 2027 and to 7% on June 27, 2029; payable quarterly
|
Price: | Par
|
Call option: | At par on any interest payment date beginning June 27, 2019
|
Payout at maturity: | Par
|
Pricing date: | June 21
|
Settlement date: | June 28
|
Agent: | Wells Fargo Securities, LLC
|
Fees: | 2%
|
Cusip: | 94986RQM6
|
© 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.