By Angela McDaniels
Tacoma, Wash., Feb. 19 - Wells Fargo & Co. priced $18.85 million of floating-rate notes due Feb. 20, 2024 linked to the 10-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 0.73 times the 10-year CMS, subject to a minimum interest rate of 2% per year. Interest is payable quarterly.
The payout at maturity will be par.
Wells Fargo Securities LLC is the underwriter.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Floating-rate notes
|
| Underlying rate: | 10-year Constant Maturity Swap rate
|
| Amount: | $18.85 million
|
| Maturity: | Feb. 20, 2024
|
| Coupon: | 0.73 times 10-year CMS rate, subject to minimum of 2% per year; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | Feb. 14
|
| Settlement date: | Feb. 20
|
| Underwriter: | Wells Fargo Securities LLC
|
| Fees: | 0.55%
|
| Cusip: | 94986RTA9
|
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