New Issue: Wells Fargo prices $2.02 million floating-rate notes with step-up cap

By Angela McDaniels

Tacoma, Wash., March 17 – Wells Fargo & Co. priced $2.02 million of capped floating-rate notes due March 17, 2023, 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, 4.5% in years six and seven and 5.25% in year eight. 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:	$2,017,000
Maturity:	March 17, 2023
Coupon:	Libor plus 100 bps, subject to cap of 3% in years one through three, 3.75% in years four and five, 4.5% in years six and seven and 5.25% in year eight; payable quarterly
Price:	Par
Payout at maturity:	Par
Pricing date:	March 12
Settlement date:	March 17
Underwriter:	Wells Fargo Securities, LLC
Fees:	0.5%
Cusip:	94986RWF4

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