Wells Fargo to price step-up callable notes with 3.75% initial rate

By Devika Patel

Knoxville, Tenn., Dec. 17 – Wells Fargo & Co. plans to sell step-up callable notes due Dec. 21, 2023, according to a 424B2 filed with the Securities and Exchange Commission.

The interest rate will be 3.75% through Dec. 20, 2021, 4.5% from Dec. 21, 2021 through Dec. 20, 2022 and 5% in the final year. Interest will be payable quarterly.

Beginning Dec. 21, 2019 and ending Sept. 21, 2023, the notes will be callable at par on any quarterly redemption date.

The payout at maturity will be par.

Wells Fargo Securities LLC is the agent.

The notes (Cusip: 95001D3H1) will price on Dec. 19 and settle on Dec. 21.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.