New Issue: Wells Fargo prices $4.41 million step-up callable notes with 2% initial rate

By Angela McDaniels

Tacoma, Wash., Nov. 25 – Wells Fargo & Co. priced $4.41 million of step-up callable notes due Nov. 25, 2022, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 2% in years one and two and 2.25% in year three. Interest is payable semiannually.

The payout at maturity will be par.

The notes will be callable at par quarterly from Nov. 25, 2021 to and including Aug. 25, 2022.

Wells Fargo Securities LLC is the agent.

Issuer:	Wells Fargo & Co.
Issue:	Step-up callable notes
Amount:	$4,407,000
Maturity:	Nov. 25, 2022
Coupon:	2% in years one and two and 2.25% in year three; payable semiannually
Price:	Par; however, original offering price for eligible institutional investors will vary between 99.65 and par
Payout at maturity:	Par
Call option:	At par quarterly beginning July 28, 2020
Pricing date:	Nov. 21
Settlement date:	Nov. 25
Agent:	Wells Fargo Securities, LLC
Fees:	0.35%
Cusip:	95001D5L0

© 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.