By Wendy Van Sickle
Columbus, Ohio, Nov. 20 – Wells Fargo & Co. priced $5 million of step-up callable notes due Nov. 20, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 3.5% initially and step up to 3.75% on Nov. 20, 2020 and to 4% on Nov. 20, 2021. Interest is payable semiannually.
The notes will be callable in whole at par on any quarterly redemption date beginning on Nov. 20, 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: | $5 million
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Maturity: | Nov. 20, 2022
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Coupon: | 3.5% initially, stepping up to 3.75% on Nov. 20, 2020 and to 4% on Nov. 20, 2021; 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 Nov. 20, 2020
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Pricing date: | Nov. 15
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Settlement date: | Nov. 20
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Agent: | Wells Fargo Securities, LLC
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Fees: | 0.5%
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Cusip: | 95001D3E8
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