By Cristal Cody
Chicago, Jan. 17 – Wells Fargo Bank NA priced $2.25 billion of two-year notes on Tuesday, according to a market source.
The dual-note transaction priced as a fixed-rate and floating-rate set.
Sized at $450 million, the floater priced with a SOFR plus 71 basis points coupon.
The $1.8 billion tranche priced with a 4.811% coupon, or at Treasuries plus 60 bps. Initial talk was in the 80 bps area.
Wells Fargo Securities LLC was the bookrunner.
The financial services company is based in San Francisco.
| Issuer: | Wells Fargo Bank NA
|
| Amount: | $2.25 billion
|
| Maturity: | Jan. 15, 2026
|
| Bookrunner: | Wells Fargo Securities LLC
|
| Trade date: | Jan. 16
|
|
|
| Floating-rate notes
|
| Amount: | $450 million
|
| Issue: | Floating-rate bank notes
|
| Coupon: | SOFR plus 71 bps
|
| Price talk: | SOFR plus equivalent spread
|
|
|
| Fixed-rate notes
|
| Amount: | $1.8 billion
|
| Issue: | Bank notes
|
| Coupon: | 4.811%
|
| Spread: | Treasuries plus 60 bps
|
| Price talk: | Treasuries plus 80 bps area
|
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