By Susanna Moon
Chicago, May 22 – Wells Fargo & Co. priced $3.5 million of fixed-to-floating-rate notes due May 19, 2027, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 4.1% for the first three years. After that, it will be equal to the 10-year Constant Maturity Swap rate, payable quarterly.
The payout at maturity will be par.
Wells Fargo Securities LLC is the agent.
| Issuer: | Wells Fargo & Co.
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| Issue: | Fixed-to-floating-rate notes
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| Amount: | $3.5 million
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| Maturity: | May 19, 2027
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| Coupon: | 4.1% for first three years; after that, the 10-year Constant Maturity Swap rate, payable quarterly
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| Price: | Par
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| Payout at maturity: | Par
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| Pricing date: | May 16
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| Settlement date: | May 19
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| Underwriter: | Wells Fargo Securities LLC
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| Fees: | 1%
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| Cusip: | 95000N2J7
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