New Issue: Wells Fargo prices $39.29 million fixed-to-floating notes linked to 10-year CMS rate

By Toni Weeks

San Luis Obispo, Calif., April 21 – Wells Fargo & Co. priced $39.29 million of fixed-to-floating-rate notes due April 22, 2030 linked to the 10-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 4% for the first four years. After that, the interest rate will be 0.83 times the 10-year CMS rate. Interest is payable quarterly.

The payout at maturity will be par.

Wells Fargo Securities, LLC is the agent.

Issuer:	Wells Fargo & Co.
Issue:	Fixed-to-floating-rate notes
Underlying rate:	10-year Constant Maturity Swap rate
Amount:	$39,289,000
Maturity:	April 22, 2030
Coupon:	4% for first four years; after that, 0.83 times 10-year CMS rate; payable quarterly
Price:	Par
Payout at maturity:	Par
Pricing date:	April 17
Settlement date:	April 22
Agent:	Wells Fargo Securities LLC
Fees:	1.85%
Cusip:	94986RWQ0

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