Published on 2/27/2014 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo sells $1.2 million five-year floaters with 0.75% floor, 4% cap
By Susanna Moon
Chicago, Feb. 27 - Wells Fargo & Co. priced $1.2 million of floating-rate notes due March 6, 2019, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be Libor plus 45 basis points, with a floor of 0.75% and a cap of 4% 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
|
| Amount: | $1.2 million
|
| Maturity: | March 6, 2019
|
| Coupon: | Libor plus 45 bps, floor of 0.75% and capped at 4%; payable quarterly
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Pricing date: | Feb. 24
|
| Settlement date: | March 6
|
| Underwriter: | Wells Fargo Securities, LLC
|
| Fees: | 0.3%
|
| Cusip: | 94986RTD3
|
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