By Toni Weeks
San Luis Obispo, Calif., May 15 - Wells Fargo & Co. priced $7 million of 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.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Floating-rate notes
|
| Amount: | $7 million
|
| Maturity: | May 16, 2024
|
| Coupon: | 0.725 times 30-year CMS rate, subject to minimum interest rate of 2% per year; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | May 13
|
| Settlement date: | May 16
|
| Agent: | Wells Fargo Securities, LLC
|
| Fees: | 0.375%
|
| Cusip: | 94986RTY7
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
