By Sarah Lizee
Olympia, Wash., Oct. 31 – Wells Fargo & Co. priced $24.36 million of step-up callable notes due Oct. 30, 2025, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is initially 2.5% per year and steps up to 3% per year on Oct. 30, 2024. Interest is payable quarterly.
The payout at maturity will be par.
After one year, the notes will be callable at par on any quarterly redemption date.
Wells Fargo Securities LLC is the agent.
| Issuer: | Wells Fargo & Co.
|
| Issue: | Step-up callable notes
|
| Amount: | $24,363,000
|
| Maturity: | Oct. 30, 2025
|
| Coupon: | 2.5% per year and steps up to 3% per year on Oct. 30, 2024; payable semiannually
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par quarterly beginning after one year
|
| Pricing date: | Oct. 28
|
| Settlement date: | Oct. 30
|
| Agent: | Wells Fargo Securities, LLC
|
| Fees: | 0.8%
|
| Cusip: | 95001D4Z0
|
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