Wells Fargo plans capped fixed-to-floaters due 2022 linked to Libor

By Lisa Mayntz

Chicago, Feb. 8 – Wells Fargo & Co. plans to price capped fixed-to-floating notes due Feb. 23, 2022 linked to three-month Libor, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 3.25% for the first year. After that, it will be three-month Libor plus 0.50%, up to a maximum return of 4.5%. Interest will be payable quarterly.

The payout at maturity will be par.

Wells Fargo Securities, LLC is the agent.

The notes will price on Feb. 17 and settle on Feb. 23.

The Cusip number is 95000N2A6.

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