New Issue: Wells Fargo prices $2.72 million fixed-to-floaters on 10-year CMS rate

By Sarah Lizee

Olympia, Wash., Feb. 27 – Wells Fargo & Co. priced $2.72 million of fixed-to-floating notes due Feb. 28, 2028 linked to the 10-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 5% for the first year. After that, it will be equal to 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 notes
Amount:	$2,722,000
Maturity:	Feb. 28, 2028
Coupon:	5% initially; beginning Feb. 28, 3019, equal to the 10-year CMS rate; payable quarterly
Price:	Par
Payout at maturity:	Par
Pricing date:	Feb. 23
Settlement date:	Feb. 28
Underwriter:	Wells Fargo Securities, LLC
Fees:	1.35%
Cusip:	95001D2A7

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