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Wells Fargo plans three-year step-up callables with 3% initial rate
By Susanna Moon
Chicago, Jan. 11 – Wells Fargo & Co. plans to sell step-up callable notes due Jan. 30, 2022, according to a 424B2 filed with the Securities and Exchange Commission.
Interest will be 3% initially, stepping up to 3.5% from Jan. 30, 2020 and to 4% on Jan. 30, 2021. Interest will be payable semiannually.
The notes will be callable at par on any redemption date beginning Jan. 30, 2020.
The payout at maturity will be par.
Wells Fargo Securities LLC is the agent.
The notes will price on Jan. 28 and settle on Jan. 30.
The Cusip is 95001D3M0.
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