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Wells Fargo to price fixed-to-floaters linked to 10-year CMS rate
By Angela McDaniels
Tacoma, Wash., Sept. 5 – Wells Fargo & Co. plans to price fixed-to-floating notes due Sept. 20, 2027 linked to the 10-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 4.5% for the first six quarters. Beginning March 20, 2019, the rate will be equal to the 10-year CMS rate. Interest will be payable quarterly.
The payout at maturity will be par.
Wells Fargo Securities, LLC is the agent.
The notes will price Sept. 15.
The Cusip number is 95000N2Z1.
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