Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers W > Headlines for Wells Fargo & Co. > News item |
Wells Fargo plans fixed-to-floaters linked to Consumer Price Index
By Angela McDaniels
Tacoma, Wash., Feb. 21 – Wells Fargo & Co. plans to price capped fixed-to-floating notes due Feb. 24, 2027, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 3% for the first two years. After that, it will be equal to the lagging year-over-year percentage change in the index plus 100 basis points, subject to a minimum of zero and a maximum rate of 5% per year. Interest will be payable quarterly.
The payout at maturity will be par.
Wells Fargo Securities, LLC is the agent.
The notes will price Feb. 22.
The Cusip number is 95000N2D0.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.