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Wells Fargo plans to price step-up callable notes with 3.125% initial rate
By Sarah Lizee
Olympia, Wash., June 10 – Wells Fargo & Co. plans to price step-up callable notes due Dec. 19, 2026, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 3.125% initially, stepping up to 3.5% on June 19, 2024 and to 4% on Dec. 19, 2025. Interest will be payable semiannually.
The payout at maturity will be par.
Beginning Sept. 19, 2020, the notes will be callable at par on any quarterly redemption date.
Wells Fargo Securities LLC is the agent.
The notes will price June 17.
The Cusip number is 95001D4G2.
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