By Angela McDaniels
Tacoma, Wash., May 15 – Wells Fargo & Co. priced $5 million of fixed-to-floating-rate notes due May 18, 2030 linked to the 10-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 4.05% for the first three years. After that, the interest rate will be equal to the 10-year CMS rate. Interest is payable quarterly.
The payout at maturity will be par.
Wells Fargo Securities, LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Fixed-to-floating-rate notes
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Underlying rate: | 10-year Constant Maturity Swap rate
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Amount: | $5 million
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Maturity: | May 18, 2030
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Coupon: | 4.05% for first three years; after that, 10-year CMS rate; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | May 13
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Settlement date: | May 18
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Agent: | Wells Fargo Securities LLC
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Fees: | None
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Cusip: | 94986RXF3
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