By Wendy Van Sickle
Columbus, Ohio, July 8 – Wells Fargo & Co. priced $5.35 million step-up callable notes due July 12, 2021, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 1.5% for the first three years, stepping up to 2% for year four and to 3% for year five. Interest will be payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on any quarterly redemption date on or after Jan. 12, 2018.
Wells Fargo Securities LLC is the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Step-up callable notes
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| Amount: | $5.35 million
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| Maturity: | July 12, 2021
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| Coupon: | 1.5% in first three years, 2% in year three and 3% in year five; payable semiannually
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| Price: | Par
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| Payout at maturity: | Par
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| Call option: | At par quarterly beginning Jan. 12, 2018
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| Pricing date: | July 6
|
| Settlement date: | July 12
|
| Agent: | Wells Fargo Securities, LLC
|
| Fees: | 0.53%
|
| Cusip: | 94986RR45
|
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