By Marisa Wong
Morgantown, W.Va., Dec. 30 – Wells Fargo & Co. priced $6.25 million of fixed-to-floating notes due Dec. 23, 2027 linked to the 10-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 4% for the first three years. After that, the rate will be 0.95 times 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-rate notes
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| Underlying rate: | 10-year Constant Maturity Swap rate
|
| Amount: | $6.25 million
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| Maturity: | Dec. 23, 2027
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| Coupon: | 4% for first three years; after that, 0.95 times 10-year CMS rate; payable quarterly
|
| Price: | Par
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| Payout at maturity: | Par
|
| Pricing date: | Dec. 18
|
| Settlement date: | Dec. 23
|
| Agent: | Wells Fargo Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 94986RB75
|
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