Published on 11/10/2015 in the Prospect News Investment Grade Daily.
New Issue: Wells Fargo sells $2 billion 4.9% subordinated notes due 2045 at 185 bps spread
By Aleesia Forni
Virginia Beach, Nov. 10 – Wells Fargo & Co. sold $2 billion of 30-year subordinated medium-term notes, series O, at Treasuries plus 185 basis points on Monday, according to a 424B2 filing with the Securities and Exchange Commission.
Pricing was at 99.238 to yield 4.949%.
Wells Fargo Securities LLC was the bookrunner.
The bank is based in San Francisco.
| Issuer: | Wells Fargo & Co.
|
| Amount: | $2 billion
|
| Description: | Subordinated medium-term notes, series O
|
| Maturity: | Nov. 17, 2045
|
| Bookrunner: | Wells Fargo Securities LLC
|
| Co-managers: | BMO Capital Markets Corp., Capital One Securities Inc., Comerica Securities Inc., Desjardins Securities Inc., Macquarie Capital (USA) Inc., Regions Securities LLC, Scotia Capital (USA) Inc.
|
| Junior co-managers: | CastleOak Securities LP, Drexel Hamilton LLC, Lebenthal & Co. LLC, Multi-Bank Securities Inc., Samuel A. Ramirez & Co. Inc., Williams Capital Group LP
|
| Coupon: | 4.9%
|
| Price: | 99.238
|
| Yield: | 4.949%
|
| Spread: | Treasuries plus 185 bps
|
| Trade date: | Nov. 9
|
| Settlement date: | Nov. 17
|
| Distribution: | SEC registered
|
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