New Issue: Wells Fargo sells $10.71 million step-up callables with 3% initial rate

By Marisa Wong

Morgantown, W.Va., Dec. 29 – Wells Fargo & Co. priced $10.71 million of step-up callable notes due Dec. 23, 2030, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 3% for the first five years, stepping up to 3.5% for years six through nine, to 4% for years 10 through 12, to 5.5% for years 13 and 14 and to 8% for year 15. Interest will be payable semiannually.

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:	Step-up callable notes
Amount:	$10,707,000
Maturity:	Dec. 23, 2030
Coupon:	3% for first five years, stepping up to 3.5% for years six through nine, to 4% for years 10 through 12, to 5.5% for years 13 and 14 and to 8% for year 15; payable semiannually
Price:	Par of $1,000
Payout at maturity:	Par
Call option:	At par quarterly after four years
Pricing date:	Dec. 18
Settlement date:	Dec. 23
Agent:	Wells Fargo Securities, LLC
Fees:	1.75%
Cusip:	94986RB67

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