Wells Fargo plans floating-rate notes linked to 10-year CMS rate

By Toni Weeks

San Luis Obispo, Calif., May 14 – Wells Fargo & Co. plans to price floating-rate notes due June 10, 2022 linked to the 10-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be 0.815 times the 10-year CMS rate, subject to a minimum rate of 2% in the first two years and 0% thereafter. Interest will be payable quarterly.

The payout at maturity will be par.

Wells Fargo Securities, LLC is the agent.

The notes will price June 5 and settle June 10.

The Cusip number is 94986RXE6.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.