Published on 1/27/2016 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $4.1 million collared floaters with 0.75% floor, 2.75% cap
By Wendy Van Sickle
Columbus, Ohio, Jan. 27 – Wells Fargo & Co. priced $4.1 million of collared floating-rate notes due Jan. 28, 2019 linked to three-month Libor, according to a 424B2 filed with the Securities and Exchange Commission.
Interest will be Libor plus 30 basis points, with a minimum rate of 0.75% per year and up to 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.
| Issuer: | Wells Fargo & Co.
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| Issue: | Collared floating-rate notes
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| Amount: | $4.1 million
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| Maturity: | Jan. 28, 2019
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| Coupon: | Libor plus 30 bps, subject to a minimum rate of 0.75% per year and a maximum rate of 2.75% per year; payable quarterly
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| Price: | Par of $1,000
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| Payout at maturity: | Par
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| Pricing date: | Jan. 25
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| Settlement date: | Jan. 28
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| Underwriter: | Wells Fargo Securities, LLC
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| Fees: | 0.5%
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| Cusip: | 94986RD57
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