By Angela McDaniels
Tacoma, Wash., June 28 - Wells Fargo & Co. priced $4.5 million of floating-rate notes due June 28, 2023 linked to the seven-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is the seven-year CMS rate plus 5 basis points, subject to a maximum interest rate of 6.25% per year. Interest is payable quarterly.
The payout at maturity will be par.
Wells Fargo Securities LLC is the underwriter.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Floating-rate notes
|
| Underlying rate: | Seven-year Constant Maturity Swap rate
|
| Amount: | $4.5 million
|
| Maturity: | June 28, 2023
|
| Coupon: | Seven-year CMS rate plus 5 bps, subject to maximum of 6.25% per year; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | June 26
|
| Settlement date: | June 28
|
| Underwriter: | Wells Fargo Securities LLC
|
| Fees: | 0.7%
|
| Cusip: | 94986RQQ7
|
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