New Issue: Wells Fargo prices $17.87 million fixed-to-floating notes due 2021

By Angela McDaniels

Tacoma, Wash., June 6 – Wells Fargo & Co. priced $17.87 million of fixed-to-floating-rate notes due June 7, 2021, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 2% for the first three years. After that, the interest rate will be Libor plus 100 basis points, subject to a maximum interest rate of 3.25% per year. Interest is payable quarterly.

The payout at maturity will be par.

Wells Fargo Securities, LLC is the agent.

Issuer:	Wells Fargo & Co.
Issue:	Fixed-to-floating-rate notes
Amount:	$17,872,000
Maturity:	June 7, 2021
Coupon:	2% for first year; after that, Libor plus 100 bps, subject to maximum interest rate of 3.25% per year; payable quarterly
Price:	Par
Payout at maturity:	Par
Pricing date:	June 2
Settlement date:	June 7
Agent:	Wells Fargo Securities LLC
Fees:	0.6%
Cusip:	94986RN31

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