Published on 7/20/2018 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $236,000 of capped floating-rate notes on Libor
By Wendy Van Sickle
Columbus, Ohio, July 20 – Wells Fargo & Co. priced $236,000 of capped floating-rate notes due Jan. 3, 2022 linked to Libor, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be equal to Libor plus 55 basis points, subject to a cap of 4%. Interest will be payable quarterly.
The payout at maturity will be par.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Capped floating-rate notes
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| Amount: | $236,000
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| Maturity: | Jan. 3, 2022
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| Coupon: | Libor plus 55 bps, subject to a 4% coupon cap; payable quarterly
|
| Price: | Par
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| Pricing date: | June 29
|
| Settlement date: | July 3
|
| Agent: | Wells Fargo Securities, LLC
|
| Fees: | 0.5%
|
| Cusip: | 95001D2M1
|
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