New Issue: Wells Fargo prices $9.11 million callable step-up notes with 2% initial rate

By Susanna Moon

Chicago, April 23 – Wells Fargo & Co. priced $9.11 million of callable step-up notes due April 24, 2023, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 2% for four years, stepping up to 2.5% for years five and six, to 4% for year seven and to 5.5% after that. Interest is payable quarterly.

The payout at maturity will be par.

The notes will be callable at par on any quarterly call date after four years.

Wells Fargo Securities, LLC is the agent.

Issuer:	Wells Fargo & Co
Issue:	Callable step-up notes
Amount:	$9,114,000
Maturity:	April 24, 2023
Coupon:	2% for initially, stepping up to 2.5% for years five and six, to 4% for year seven and to 5.5% for year eight; payable quarterly
Price:	Variable
Payout at maturity:	Par
Call option:	At par on any quarterly call date beginning April 24, 2019
Pricing date:	April 21
Settlement date:	April 24
Agent:	Wells Fargo Securities, LLC
Fees:	1.2%
Cusip:	94986RWR8

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