New Issue: Wells Fargo prices $10.75 million step-up notes with 4% initial rate

By Angela McDaniels

Tacoma, Wash., Sept. 17 - Wells Fargo & Co. priced $10.75 million of step-up callable notes due Sept. 18, 2030, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 4% in years one through five, 4.25% in years six through nine, 4.5% in years 10 through 13, 5.5% in years 14 and 15 and 7% in years 16 and 17. Interest is payable quarterly.

The payout at maturity will be par.

After five years, the notes will be callable at par on any quarterly redemption date.

Wells Fargo Securities, LLC is the agent.

Issuer:	Wells Fargo & Co.
Issue:	Step-up callable notes
Amount:	$10,745,000
Maturity:	Sept. 18, 2030
Coupon:	4% in years one through five, 4.25% in years six through nine, 4.5% in years 10 through 13, 5.5% in years 14 and 15 and 7% in years 16 and 17; payable quarterly
Price:	Par
Call option:	At par on any quarterly redemption date beginning Sept. 18, 2018
Payout at maturity:	Par
Pricing date:	Sept. 13
Settlement date:	Sept. 18
Agent:	Wells Fargo Securities, LLC
Fees:	1.75%
Cusip:	94986RRK9

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