Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers W > Headlines for Wells Fargo & Co. > News item |
Wells Fargo plans 15-year step-up callable notes with 3% initial rate
By Devika Patel
Knoxville, Tenn., March 9 – Wells Fargo & Co. plans to price step-up callable notes due March 31, 2031, according to a 424B2 filed with the Securities and Exchange Commission.
Interest will be 3% for the first five years, stepping up to 3.5% for years six to nine, to 4.5% for years 10 to 12, to 6% for years 13 to 14 and to 8% in the 15th and final year.
The payout at maturity will be par.
After four years, the notes will be callable quarterly at par.
Wells Fargo Securities LLC is the agent.
The notes (Cusip: 94986RH20) will price on March 28 and settle on March 31.
© 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.