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Wells Fargo to price 4% fixed-to-floaters linked to 10-year CMS rate
By Sarah Lizee
Olympia, Wash., March 22 – Wells Fargo & Co. plans to price fixed-to-floating notes due April 4, 2025 linked to the 10-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 4% for the first two years. After that, 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 on March 29 and settle on April 4.
The Cusip number is 95001D2F6.
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