Wells Fargo to price capped fixed-to-floaters linked to 3-month Libor

By Wendy Van Sickle

Columbus, Ohio, Feb. 19 – Wells Fargo & Co. plans to price capped fixed-to-floating rate notes due March 1, 2023 linked to three-month Libor, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be fixed at 3% for the first two years. After that, it will be equal to Libor plus 100 basis points, capped at 5%. Interest is payable quarterly.

The payout at maturity will be par.

Wells Fargo Securities, LLC is the agent.

The notes will price on Feb. 24 and settle on Feb. 29.

The Cusip number is 94986RF71.

© 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.