Published on 12/26/2018 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo sells $20.3 million step-up callable notes with 3.75% start rate
By Wendy Van Sickle
Columbus, Ohio, Dec. 26 – Wells Fargo & Co. priced $20.3 million of step-up callable notes due Dec. 21, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 3.75% initially and step up to 4.5% on Dec. 21, 2021 and to 5% on Dec. 21, 2022. Interest is payable semiannually.
The notes will be callable in whole at par on any quarterly redemption date beginning on Sept. 21, 2023.
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: | $20,303,000
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Maturity: | Dec. 21, 2023
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Coupon: | 3.5% initially, stepping up to 4.5% on Dec. 21, 2021 and to 5% on Dec. 21, 2022; 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 Sept. 21, 2023
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Pricing date: | Dec. 19
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Settlement date: | Dec. 21
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Agent: | Wells Fargo Securities, LLC
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Fees: | 0.6%
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Cusip: | 95001D3H1
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