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Wells Fargo plans 10-year step-up callable notes with 3%-4% rates
By Susanna Moon
Chicago, Nov. 30 – Wells Fargo & Co. plans to price step-up callable notes due Dec. 6, 2027, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 3% for the first five years, stepping up to 3.25% on Dec. 6, 2022 and to 4% on Dec. 6, 2025. Interest will be payable semiannually.
The notes will be callable at par on any quarterly redemption date after five years.
The payout at maturity will be par.
Wells Fargo Securities, LLC is the agent.
The notes will price on Dec. 4 and settle on Dec. 6.
The Cusip number is 95000N3K3.
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