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Wells Fargo plans to price step-up notes due 2028 with 4% start rate
By Sarah Lizee
Olympia, Wash., May 14 – Wells Fargo & Co. plans to price step-up callable notes due May 17, 2028, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 4% initially, stepping up to 5% on May 17, 2023. Interest will be payable semiannually.
The notes will be callable in whole at par on May 17, 2023.
The payout at maturity will be par.
Wells Fargo Securities, LLC is the agent.
The notes will price on May 15 and settle on May 17.
The Cusip number is 95001D2K5.
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