New Issue: Wells Fargo prices $3.75 million step-up callable notes with 3% initial rate

By Jennifer Chiou

New York, March 19 – Wells Fargo & Co. priced $3,747,000 of step-up callable notes due March 20, 2035, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 3% initially, stepping up to 3.5% on March 20, 2020, to 4% on March 20, 2024, to 5% on March 20, 2028, to 6% on March 20, 2031 and to 7.5% on March 20, 2033. Interest is payable quarterly.

The payout at maturity will be par.

The notes will be callable at par on any interest payment date beginning on March 20, 2019.

Wells Fargo Securities, LLC is the agent.

Issuer:	Wells Fargo & Co.
Issue:	Step-up callable notes
Amount:	$3,747,000
Maturity:	March 20, 2035
Coupon:	3% initially, stepping up to 3.5% on March 20, 2020, to 4% on March 20, 2024, to 5% on March 20, 2028, to 6% on March 20, 2031 and to 7.5% on March 20, 2033; payable quarterly
Price:	Par
Call option:	At par on any interest payment date beginning on March 20, 2019
Payout at maturity:	Par
Pricing date:	March 17
Settlement date:	March 20
Agent:	Wells Fargo Securities, LLC
Fees:	0.225%
Cusip:	94986RWH0

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