Wells Fargo prices cash tender offer for 3.45% notes due 2023

By Wendy Van Sickle

Columbus, Ohio, Jan. 24 – Wells Fargo & Co. subsidiary Wells Fargo Securities, LLC announced pricing of a cash tender offer for any and all of its $2 billion outstanding 3.45% notes due Feb. 13, 2023 (Cusip: 94974BFJ4), according to a news release.

The company used a spread of 16 basis points over Treasuries to set the total consideration of $1,027.85. The company will also pay accrued interest.

Pricing was set at 2 p.m. ET on Jan. 24.

The offer was announced on Jan. 18 and expired at 5 p.m. ET on Jan. 24. The settlement date is expected to be Jan. 25.

D.F. King & Co., Inc. (212 269-5550, 800 967-4607, wfc@dfking.com, www.dfking.com/wfc) is serving as the tender agent and information agent.

The offeror is Wells Fargo Securities (866 309-6316, 704 410-4759, liabilitymanagement@wellsfargo.com).

The financial services company is based in San Francisco.

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