By Angela McDaniels
Tacoma, Wash., June 16 – Wells Fargo & Co. priced $13.71 million of step-up callable notes due June 17, 2031, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 3.25% in years one through five, 3.75% in years six through nine, 4.25% in years 10 through 13 and 5.75% in years 14 through 17. Interest is payable quarterly.
The payout at maturity will be par.
Beginning June 17, 2019, the notes are callable at par on any interest payment date.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Step-up callable notes
|
| Amount: | $13.71 million
|
| Maturity: | June 17, 2031
|
| Coupon: | 3.25% in years one through five, 3.75% in years six through nine, 4.25% in years 10 through 13 and 5.75% in years 14 through 17; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | On any interest payment date from June 17, 2019 onward
|
| Pricing date: | June 12
|
| Settlement date: | June 17
|
| Underwriter: | Wells Fargo Securities, LLC
|
| Fees: | 2.25%
|
| Cusip: | 94986RUC3
|
© 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.
