By Sarah Lizee
Olympia, Wash., April 30 – Wells Fargo & Co. priced $5 million of step-up callable notes due April 30, 2038, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 4% initially, stepping up to 5% on April 30, 2028 and to 6% on April 30, 2033. Interest will be payable semiannually.
The notes will be callable in whole at par on any quarterly redemption date beginning on April 30, 2023.
The payout at maturity will be par.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo & Co.
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| Issue: | Step-up callable notes
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| Amount: | $5 million
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| Maturity: | April 30, 2038
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| Coupon: | 4% initially, stepping up to 5% on April 30, 2028 and to 6% on April 30, 2033; payable semiannually
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| Price: | Par
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| Payout at maturity: | Par
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| Call option: | At par on any quarterly date beginning April 30, 2023
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| Pricing date: | April 26
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| Settlement date: | April 30
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| Agent: | Wells Fargo Securities, LLC
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| Fees: | 2.3%
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| Cusip: | 95001D2J8
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