Published on 11/6/2018 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $2.75 million capped floating-rate notes on Libor
By Sarah Lizee
Olympia, Wash., Nov. 6 – Wells Fargo & Co. priced $2.75 million of capped floating-rate notes due Nov. 7, 2020 linked to Libor, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be equal to Libor plus 15 basis points, subject to a cap of 4%. Interest will be payable quarterly and cannot be less than zero.
The payout at maturity will be par.
Wells Fargo Securities, LLC is the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Capped floating-rate notes
|
| Amount: | $2.75 million
|
| Maturity: | Nov. 7, 2020
|
| Coupon: | Libor plus 15 bps, subject to a 4% coupon cap, 0% floor; payable quarterly
|
| Price: | Par
|
| Pricing date: | Nov. 2
|
| Settlement date: | Nov. 7
|
| Agent: | Wells Fargo Securities, LLC
|
| Fees: | 0.25%
|
| Cusip: | 95001D3F5
|
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