Published on 3/17/2015 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $5 million floating-rate notes with step-up cap
By Angela McDaniels
Tacoma, Wash., March 17 – Wells Fargo & Co. priced $5 million of capped floating-rate notes due March 11, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is Libor plus 100 basis points, subject to a cap of 3% in years one through three, 3.75% in years four and five and 4.75% in years six and seven. Interest is payable quarterly.
The payout at maturity will be par.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Capped floating-rate notes
|
| Amount: | $5 million
|
| Maturity: | March 11, 2022
|
| Coupon: | Libor plus 100 bps, subject to cap of 3% in years one through three, 3.75% in years four and five and 4.75% in years six and seven; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | March 13
|
| Settlement date: | March 18
|
| Underwriter: | Wells Fargo Securities, LLC
|
| Fees: | 0.35%
|
| Cusip: | 94986RWM9
|
© 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.
