By Marisa Wong
Madison, Wis., Dec. 30 – Wells Fargo & Co. priced $15 million of step-up callable notes due Dec. 30, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 2.375% for the first three years, stepping up to 3.75% for years four through six, to 4.25% for years seven and eight and to 5.25% for years nine and 10. Interest is payable quarterly.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date after three years.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo & Co.
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| Issue: | Step-up callable notes
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| Amount: | $15 million
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| Maturity: | Dec. 30, 2024
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| Coupon: | 2.375% initially, stepping up to 3.75% for years four through six, to 4.25% for years seven and eight and to 5.25% for years nine and 10; payable quarterly
|
| Price: | Par
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| Call option: | At par on any interest payment date after three years
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| Payout at maturity: | Par
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| Pricing date: | Dec. 26
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| Settlement date: | Dec. 30
|
| Agent: | Wells Fargo Securities, LLC
|
| Fees: | 0.3%
|
| Cusip: | 94986RVN8
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