By Wendy Van Sickle
Columbus, Ohio, Oct. 2 – Wells Fargo & Co. priced $20 million of step-up callable notes due Oct. 1, 2021, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 3.25% initially and will step up to 3.75% on Oct. 1, 2020. Interest is payable semiannually.
The notes will be callable in whole at par on any quarterly redemption date beginning on Oct. 1, 2020.
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: | $20 million
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| Maturity: | Oct. 1, 2021
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| Coupon: | 3.25% initially, stepping up to 3.75% on Oct. 1, 2020; payable semiannually
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| Price: | Par
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| Payout at maturity: | Par
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| Call option: | At par quarterly beginning Oct. 1, 2020
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| Pricing date: | Sept. 27
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| Settlement date: | Oct. 1
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| Agent: | Wells Fargo Securities, LLC
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| Fees: | 0.35%
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| Cusip: | 95001D2Y5
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