Published on 4/21/2016 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $5.95 million collared floaters with 0.75% floor
By Wendy Van Sickle
Columbus, Ohio, April 21 – Wells Fargo & Co. priced $5.95 million of collared floating-rate notes due April 22, 2019, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be three-month Libor plus 275 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 agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Collared floating-rate notes
|
| Amount: | $5,947,000
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| Maturity: | April 22, 2019
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| Coupon: | Libor plus 275 bps, subject to minimum rate of 0.75% per year and maximum rate of 2.75% per year; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | April 19
|
| Settlement date: | April 22
|
| Underwriter: | Wells Fargo Securities, LLC
|
| Fees: | 0.4%
|
| Cusip: | 94986RK42
|
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