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Wells Fargo to price floating-rate notes linked to 10-year CMS rate
By Jennifer Chiou
New York, April 29 - Wells Fargo & Co. plans to price floating-rate notes due May 9, 2021 linked to the 10-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be paid quarterly at an annualized rate of 0.635 times the 10-year CMS rate, subject to a minimum rate of 2% per year.
The payout at maturity will be par.
The notes (Cusip: 94986RTU5) are expected to price on May 6 and settle on May 9.
Wells Fargo Securities, LLC is the agent.
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