New Issue: Wells Fargo prices $7.97 million step-up callables with 3% start rate

By Wendy Van Sickle

Columbus, Ohio, Aug. 1 – Wells Fargo & Co. priced $7.97 million of step-up callable notes due July 30, 2022, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 3% for the first two years. After that, it will step up to 3.25% on July 30, 2019, to 3.5% on July 30, 2020 and to 4% on July 30, 2021. Interest will be payable semiannually.

The notes will be callable at par after one year.

The payout at maturity will be par.

Wells Fargo Securities, LLC is the agent.

Issuer:	Wells Fargo & Co.
Issue:	Step-up callable notes
Amount:	$7.97 million
Maturity:	July 30, 2022
Coupon:	3% initially, stepping up to 3.25% on July 30, 2019, to 3.5% on July 30, 2020 and to 4% on July 30, 2021; payable semiannually
Price:	Par
Payout at maturity:	Par
Call option:	At par on any quarterly review date beginning July 30, 2019
Pricing date:	July 25
Settlement date:	July 30
Agent:	Wells Fargo Securities, LLC
Fees:	0.5%
Cusip:	95001D2P4

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