Wells Fargo to price floating-rate notes due 2021 tied to CMS rate

By Sarah Lizee

Olympia, Wash., Feb. 6 – Wells Fargo & Co. plans to price floating-rate notes due Feb. 26, 2021, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be equal to the 10-year Constant Maturity Swap rate plus a spread of 5 basis points, subject to a minimum interest rate of 0% per year. Interest will be payable quarterly.

The payout at maturity will be par.

Wells Fargo Securities, LLC is the agent.

The notes are expected to price on Feb. 22.

The Cusip number is 95001D3U2.

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