Published on 6/5/2019 in the Prospect News Structured Products Daily.
New Issue: Wells Fargo sells $43.96 million step-up callable notes with 3.125% initial rate
By Wendy Van Sickle
Columbus, Ohio, June 5 – Wells Fargo & Co. priced $43.96 million of step-up callable notes due Nov. 30, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 3.125% initially, stepping up to 3.375% on May 30, 2021, 3.5% on May 30, 2022, 3.75% on May 30, 2023 and to 4% on May 30, 2024. Interest is payable semiannually.
The payout at maturity will be par.
Beginning May 30, 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: | $43,956,000
|
Maturity: | Nov. 30, 2024
|
Coupon: | 3.125% initially, stepping up to 3.375% on May 30, 2021, 3.5% on May 30, 2022, 3.75% on May 30, 2023 and to 4% on May 30, 2024; payable semiannually
|
Price: | Par
|
Payout at maturity: | Par
|
Call option: | At par quarterly beginning May 30, 2020
|
Pricing date: | May 28
|
Settlement date: | May 30
|
Agent: | Wells Fargo Securities, LLC
|
Fees: | 0.6%
|
Cusip: | 95001D4C1
|
|
© 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.