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Wells Fargo plans callable step-up coupon notes with 3.75% start rate
By Susanna Moon
Chicago, Dec. 17 – Wells Fargo & Co. plans to price callable step-up coupon notes due Dec. 21, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 3.75% initially, stepping up to 4.5% on Dec. 20, 2021 and to 5% on Dec. 20, 2022.
Interest will be payable quarterly.
The payout at maturity will be par.
The notes will be callable at par on any quarterly date beginning on Dec. 21, 2019.
Wells Fargo Securities, LLC is the underwriter.
The notes are expected to price on Dec. 19.
The Cusip number is 95001D3H1.
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