New Issue: Wells Fargo sells $5 billion six-year fixed- and floating-rate notes in two parts

By Cristal Cody

Eureka Springs, Ark., Jan. 20 – Wells Fargo & Co. sold $5 billion of senior notes (A2/A/AA-) in two tranches on Tuesday, according to an FWP filing with the Securities and Exchange Commission.

Wells Fargo priced $1.25 billion of floating-rate notes due Jan. 24, 2023 at par to yield Libor plus 111 basis points.

The company sold $3.75 billion of 3.069% six-year notes at par with a spread of Treasuries plus 125 bps.

Wells Fargo Securities LLC was the bookrunner.

The financial services company is based in San Francisco.

Issuer:	Wells Fargo & Co.
Amount:	$5 billion
Description:	Senior notes
Bookrunner:	Wells Fargo Securities LLC
Co-managers:	BB&T Capital Markets, Capital One Securities, Inc., Commonwealth Bank of Australia, KeyBanc Capital Markets Inc., National Bank of Canada Financial Inc., 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, Samuel A. Ramirez & Co., Inc., Williams Capital Group, LP
Trade date:	Jan. 17
Settlement date:	Jan. 24
Ratings:	Moody’s: A2
	S&P: A
	Fitch: AA-
Distribution:	SEC registered
Six-year floaters
Amount:	$1.25 billion
Maturity:	Jan. 24, 2023
Coupon:	Libor plus 111 bps
Price:	Par
Yield:	Libor plus 111 bps
Call feature:	Jan. 24, 2022 at par
Six-year notes
Amount:	$3.75 billion
Maturity:	Jan. 24, 2023
Coupon:	3.069%
Price:	Par
Yield:	3.069%
Spread:	Treasuries plus 125 bps
Call feature:	Jan. 24, 2022 at par

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