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Wells Fargo to price step-up callable notes with 3% initial rate
New York, Dec. 4 – Wells Fargo & Co. plans to price step-up callable notes due Dec. 23, 2030, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 3% in years one through five, 3.5% in years six through nine, 4% in years 10 through 12, 5.5% in years 13 through 14 and 8% in year 15. Interest will be payable semiannually.
The payout at maturity will be par.
After four years, the notes will be callable quarterly at par.
Wells Fargo Securities, LLC is the agent.
The notes will price Dec. 18 and settle Dec. 23.
The Cusip number is 94986RB67.
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