By Angela McDaniels
Tacoma, Wash., June 29 – Wells Fargo & Co. priced $13.91 million of fixed-to-floating-rate notes due June 30, 2027 linked to the 10-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 4% for the first four years. After that, the interest rate will be 0.85 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
|
Underlying rate: | 10-year Constant Maturity Swap rate
|
Amount: | $13.91 million
|
Maturity: | June 30, 2027
|
Coupon: | 4.05% for first three years; after that, 0.85 times 10-year CMS rate; payable quarterly
|
Price: | Par
|
Payout at maturity: | Par
|
Pricing date: | June 25
|
Settlement date: | June 30
|
Agent: | Wells Fargo Securities LLC
|
Fees: | 1.5%
|
Cusip: | 94986RXQ9
|
© 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.