By Marisa Wong
Madison, Wis., Aug. 20 - Wells Fargo & Co. priced $6.2 million of step-up callable notes due Aug. 22, 2018, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 1.6% for the first three years, stepping up to 2% for year four and to 3% for year five. Interest will be payable quarterly.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date beginning Aug. 21, 2016.
Wells Fargo Securities, LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Step-up callable notes
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Amount: | $6.2 million
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Maturity: | Aug. 22, 2018
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Coupon: | 1.6% for first three years, stepping up to 2% for year four and to 3% for year five; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Call option: | At par on any interest payment date beginning Aug. 21, 2016
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Pricing date: | Aug. 16
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Settlement date: | Aug. 21
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Agent: | Wells Fargo Securities, LLC
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Fees: | 0.3%
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Cusip: | 94986RRC7
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