Wells Fargo to price step-up callable notes with 1.2% initial rate

By Angela McDaniels

Tacoma, Wash., Oct. 7 – Wells Fargo & Co. plans to price step-up callable notes due Oct. 20, 2018, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be 1.2% for the first 18 months and 1.75% for the final six months. Interest will be payable semiannually.

The payout at maturity will be par.

The notes will be callable at par on April 20, 2018 and July 20, 2018.

Wells Fargo Securities LLC is the agent.

The notes will price Oct. 17.

The Cusip number is 94986RY54.

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