New Issue: Wells Fargo sells $10 million step-up callable notes with 3.5% initial rate

By Wendy Van Sickle

Columbus, Ohio, March 28 – Wells Fargo & Co. priced $10 million of step-up callable notes due March 28, 2034, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 3.5% initially, stepping up to 4% on March 28, 2023, to 4.5% on March 28, 2026 and to 5% on March 28, 2028. Interest is payable semiannually.

The payout at maturity will be par.

Beginning Dec. 28, 2028, 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:	$10 million
Maturity:	March 28, 2034
Coupon:	3.5% initially, stepping up to 4% on March 28, 2023, to 4.5% on March 28, 2026 and to 5% on March 28, 2028; payable semiannually
Price:	Par
Payout at maturity:	Par
Call option:	At par quarterly beginning Dec. 28, 2028
Pricing date:	March 26
Settlement date:	March 28
Agent:	Wells Fargo Securities, LLC
Fees:	1.447%
Cusip:	95001D3Y4

© 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.