By Angela McDaniels
Tacoma, Wash., Dec. 4 – Wells Fargo & Co. priced $5 million of step-up callable notes due Dec. 5, 2037, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 3.75% in years one through 15 and 4% in years 16 through 20. Interest is payable semiannually.
The payout at maturity will be par.
Beginning Dec. 5, 2027, the notes will be callable at par on any quarterly redemption date.
Wells Fargo Securities LLC is the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Step-up callable notes
|
| Amount: | $5 million
|
| Maturity: | Dec. 5, 2037
|
| Coupon: | 3.75% in years one through 15 and 4% in years 16 through 20; payable semiannually
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par quarterly beginning Dec. 5, 2027
|
| Pricing date: | Nov. 30
|
| Settlement date: | Dec. 5
|
| Agent: | Wells Fargo Securities, LLC
|
| Fees: | 2.25%
|
| Cusip: | 95000N3J6
|
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