Published on 3/28/2019 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo prices $25 million step-up callable notes with 3.3% initial rate
By Sarah Lizee
Olympia, Wash., March 28 – Wells Fargo & Co. priced $25 million of step-up callable notes due Sept. 28, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 3.3% initially, stepping up to 3.5% on Sept. 28, 2022, to 4% on Sept. 28, 2023 and to 5% on March 28, 2024. Interest is payable semiannually.
The payout at maturity will be par.
Beginning March 28, 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: | $25 million
|
Maturity: | Sept. 28, 2024
|
Coupon: | 3.3% initially, stepping up to 3.5% on Sept. 28, 2022, to 4% on Sept. 28, 2023 and to 5% on March 28, 2024; payable semiannually
|
Price: | Par
|
Payout at maturity: | Par
|
Call option: | At par quarterly beginning March 28, 2020
|
Pricing date: | March 26
|
Settlement date: | March 28
|
Agent: | Wells Fargo Securities, LLC
|
Fees: | 0.75%
|
Cusip: | 95001D4A5
|
© 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.