By Sarah Lizee
Olympia, Wash., May 17 – Wells Fargo & Co. priced $12 million of step-up callable notes due May 17, 2028, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 4% initially and step 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.
| Issuer: | Wells Fargo & Co.
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| Issue: | Step-up callable notes
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| Amount: | $12 million
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| Maturity: | May 17, 2028
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| Coupon: | 4% initially, stepping up to 5% on May 17, 2023; payable semiannually
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| Price: | Par
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| Payout at maturity: | Par
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| Call option: | In whole at par on May 17, 2023
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| Pricing date: | May 15
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| Settlement date: | May 17
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| Agent: | Wells Fargo Securities, LLC
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| Fees: | 0.6%
|
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| Cusip: | 95001D2K5
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