By Marisa Wong
Madison, Wis., Sept. 22 – Wells Fargo & Co. priced $4.99 million of fixed-to-floating-rate notes due Sept. 23, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 5% for the first year. After that, the interest rate will be 0.7 times the 30-year Constant Maturity Swap 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
|
Amount: | $4.99 million
|
Maturity: | Sept. 23, 2024
|
Coupon: | 5% for first year; after that, 0.7 times 30-year CMS rate; payable quarterly
|
Price: | Par
|
Payout at maturity: | Par
|
Pricing date: | Sept. 18
|
Settlement date: | Sept. 23
|
Agent: | Wells Fargo Securities LLC
|
Fees: | 0.75%
|
Cusip: | 94986RUW9
|
|
© 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.