New Issue: Wells Fargo sells $2 billion notes due 2023 at par to yield Libor plus 123 bps

By Cristal Cody

Eureka Springs, Ark., Oct. 24 – Wells Fargo & Co. (A2/A/AA-) sold $2 billion of seven-year floating-rate senior notes at par to yield Libor plus 123 basis points on Monday, according to an FWP filing with the Securities and Exchange Commission.

Wells Fargo Securities LLC was the bookrunner.

Proceeds will be used for general corporate purposes.

The financial services company is based in San Francisco.

Issuer:	Wells Fargo & Co.
Amount:	$2 billion
Description:	Floating-rate senior notes
Maturity:	Oct. 31, 2023
Bookrunner:	Wells Fargo Securities LLC
Co-managers:	CIBC World Markets Corp., Desjardins Securities Inc., Huntington Investment Co.
Junior co-managers:	Blaylock Beal Van, LLC, CastleOak Securities, LP, Drexel Hamilton, LLC, Loop Capital Markets LLC
Coupon:	Libor plus 123 bps
Price:	Par
Yield:	Libor plus 123 bps
Call feature:	Oct. 31, 2022 at par
Trade date:	Oct. 24
Settlement date:	Oct. 31
Ratings:	Moody’s: A2
	S&P: A
	Fitch: AA-
Distribution:	SEC registered

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