By Angela McDaniels
Tacoma, Wash., July 5 – Wells Fargo & Co. priced $8.5 million of step-up callable notes due July 6, 2020, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 1.3% in years one and two, 1.75% in year three and 3% in year four. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on any quarterly redemption date after two years.
Wells Fargo Securities LLC is the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Step-up callable notes
|
| Amount: | $8.5 million
|
| Maturity: | July 6, 2020
|
| Coupon: | 1.3% in years one and two, 1.75% in year three and 3% in year four; payable semiannually
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par quarterly beginning July 6, 2018
|
| Pricing date: | June 30
|
| Settlement date: | July 6
|
| Agent: | Wells Fargo Securities, LLC
|
| Fees: | 0.35%
|
| Cusip: | 94986RP96
|
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