By Angela McDaniels
Tacoma, Wash., Oct. 17 – Wells Fargo & Co. priced $3.25 million of step-up callable notes due April 20, 2018, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 1% for the first 18 months, 1.35% for the following 12 months and 2% for the final 12 months. Interest is payable quarterly.
The payout at maturity will be par.
Beginning April 20, 2016, 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: | $3.25 million
|
| Maturity: | April 20, 2018
|
| Coupon: | 1% for first 18 months, 1.35% for following 12 months and 2% for final 12 months; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | On any interest payment date from April 20, 2016 onward
|
| Pricing date: | Oct. 15
|
| Settlement date: | Oct. 20
|
| Underwriter: | Wells Fargo Securities, LLC
|
| Fees: | 0.5%
|
| Cusip: | 94986RVC2
|
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