New Issue: Wells Fargo prices $19.61 million of 20-year callable step-up notes

By Wendy Van Sickle

Columbus, Ohio, March 10 – Wells Fargo & Co. priced $19.61 million of step-up callable notes due March 11, 2036, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 3.5% for the first 11 years, stepping up to 4% for years 12 to 15, to 5% for years 16 to 18, to 6% in year 19 and to 8% in the 20th 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.

Issuer:	Wells Fargo & Co.
Issue:	Step-up callable notes
Amount:	$19,609,000
Maturity:	March 11, 2036
Coupon:	3.5% for 11 years, stepping up to 4% for years 12 to 15, to 5% for years 16 to 18, to 6% in year 19 and to 8% in year 20; payable semiannually
Price:	Par of $1,000
Payout at maturity:	Par
Call option:	At par quarterly after four years
Pricing date:	March 8
Settlement date:	March 11
Agent:	Wells Fargo Securities, LLC
Fees:	2%
Cusip:	94986RF55

© 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.