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Wells Fargo to price floating-rate notes linked to 30-year CMS rate
By Toni Weeks
San Luis Obispo, Calif., May 5 - Wells Fargo & Co. plans to price floating-rate notes due May 16, 2024 linked to the 30-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 0.725 times the 30-year CMS rate, subject to a minimum rate of 2% per year.
The payout at maturity will be par.
The notes (Cusip: 94986RTY7) are expected to price May 13 and settle May 16.
Wells Fargo Securities, LLC is the agent.
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