By Sarah Lizee
Olympia, Wash., Feb. 3 – Wells Fargo & Co. priced $9.47 million of step-up callable notes due Jan. 30, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 2% initially, stepping up to 2.25% on Jan. 30, 2023. Interest will be payable semiannually.
The payout at maturity will be par.
The notes will be callable quarterly at par in whole but not in part beginning Oct. 30.
Wells Fargo Securities, LLC is the agent.
Issuer: | Wells Fargo & Co.
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Issue: | Step-up callable notes
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Amount: | $9.47 million
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Maturity: | Jan. 30, 2023
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Coupon: | 2% initially, stepping up to 2.25% on Jan. 30, 2023, payable semiannually
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Price: | Par
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Payout at maturity: | Par
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Call option: | At par quarterly beginning Oct. 30
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Pricing date: | Jan. 28
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Settlement date: | Jan. 30
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Agent: | Wells Fargo Securities, LLC
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Fees: | 0.4%
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Cusip: | 95001D5S5
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