Wells Fargo plans collared floaters with 0.75% minimum, 2.75% maximum

By Angela McDaniels

Tacoma, Wash., Dec. 23 – Wells Fargo & Co. plans to price collared floating-rate notes due Jan. 4, 2019, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be Libor plus 30 basis points, subject to a minimum rate of 0.75% per year and a maximum rate of 2.75% per year. Interest will be payable quarterly.

The payout at maturity will be par.

Wells Fargo Securities, LLC is the underwriter.

The notes will price Dec. 29.

The Cusip number is 94986RC90.

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