New Issue: Wells Fargo prices $2 billion 4.4% 30-year medium-term notes at 188 bps over Treasuries

By Lisa Kerner

Charlotte, N.C., June 8 – Wells Fargo & Co. priced $2 billion of subordinated medium-term notes, series O, at 99.884 to yield 4.407% on Tuesday, according to a 424B2 filing with the Securities and Exchange Commission.

The notes sold at a spread of 188 bps over Treasuries.

Wells Fargo Securities, LLC was the bookrunner.

The financial services company is based in San Francisco.

Issuer:	Wells Fargo & Co.
Amount:	$2 billion
Description:	Subordinated fixed-rate medium-term notes, series O
Maturity:	June 14, 2046
Bookrunner:	Wells Fargo Securities, LLC
Co-managers:	Capital One Securities, Inc., BB&T Capital Markets, Macquarie Capital (USA) Inc., Santander Investment Securities Inc., Huntington Investment Co.
Junior co-managers:	CastleOak Securities LP, Drexel Hamilton, LLC, Loop Capital Markets LLC, Williams Capital Group LP
Coupon:	4.4%
Price:	99.884
Yield:	4.407%
Spread:	Treasuries plus 188 bps
Trade date:	June 7
Settlement date:	June 14

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