By Marisa Wong
Madison, Wis., May 18 – Wells Fargo & Co. priced $7.4 million of step-up callable notes due May 19, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 2% in years one through four, 2.75% in years five and six, 4% in year seven and 5.5% in year eight. Interest will be payable quarterly.
The payout at maturity will be par.
After four years, the notes will be callable at par on any interest payment date.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Step-up callable notes
|
| Amount: | $7.4 million
|
| Maturity: | May 19, 2023
|
| Coupon: | 2% initially, stepping up to 2.75% in years five and six, 4% in year seven and 5.5% in year eight; payable quarterly
|
| Price: | Par
|
| Call option: | At par on any interest payment date beginning on May 19, 2019
|
| Payout at maturity: | Par
|
| Pricing date: | May 14
|
| Settlement date: | May 19
|
| Agent: | Wells Fargo Securities, LLC
|
| Fees: | 1.5%
|
| Cusip: | 94986RXB2
|
|
|
© 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.
