Published on 2/26/2019 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $19.41 million step-up callable notes with 3% initial rate
By Angela McDaniels
Tacoma, Wash., Feb. 26 – Wells Fargo & Co. priced $19.41 million of step-up callable notes due Aug. 27, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 3% until Aug. 27, 2021, when it steps up to 4%. Interest is payable quarterly.
The payout at maturity will be par.
Beginning Aug. 27, 2020, the notes will be callable at par on any quarterly redemption date.
Wells Fargo Securities LLC is the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Step-up callable notes
|
| Amount: | $19,409,000
|
| Maturity: | Aug. 27, 2022
|
| Coupon: | 3% from Feb. 27, 2019 to Aug. 26, 2021 and 4% from Aug. 27, 2021 to Aug. 26, 2022; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par quarterly beginning Aug. 27, 2020
|
| Pricing date: | Feb. 25
|
| Settlement date: | Feb. 27
|
| Agent: | Wells Fargo Securities, LLC
|
| Fees: | 0.494%
|
| Cusip: | 95001D3V0
|
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