New Issue: Wells Fargo prices $3.6 billion five-year notes in fixed-, floating-rate tranches

By Cristal Cody

Eureka Springs, Ark., July 18 – Wells Fargo & Co. priced $3.6 billion of five-year senior notes (A2/A/AA-) in fixed- and floating-rate tranches on Monday, according to an FWP filing with the Securities and Exchange Commission.

The company sold $600 million of floating-rate notes at par to yield Libor plus 102.5 basis points.

The company priced $3 billion of 2.1% notes at 99.906 to yield 2.12%. The notes were sold with a spread of 100 bps over Treasuries.

Wells Fargo Securities, LLC was the bookrunner.

The retail, commercial and corporate banking services provider is based in San Francisco.

Issuer:	Wells Fargo & Co.
Amount:	$3.6 billion
Securities:	Senior notes
Bookrunner:	Wells Fargo Securities, LLC
Co-managers:	BB&T Capital Markets, BMO Capital Markets Corp., FTN Financial Securities Corp., Scotia Capital (USA) Inc., TD Securities (USA) LLC, Huntington Investment Co.
Junior co-managers:	Apto Partners, LLC, Blaylock Beal Van, LLC, Loop Capital Markets LLC, Multi-Bank Securities, Inc.
Trade date:	July 18
Settlement date:	July 25
Ratings:	Moody’s: A2
	S&P: A
	Fitch: AA-
Distribution:	SEC registered
Five-year floaters
Amount:	$600 million
Maturity:	July 26, 2021
Coupon:	Libor plus 102.5 bps
Price:	Par
Yield:	Libor plus 102.5 bps
Five-year notes
Amount:	$3 billion
Maturity:	July 26, 2021
Coupon:	2.1%
Price:	99.906
Yield:	2.12%
Spread:	Treasuries plus 100 bps

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