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Wells Fargo to price step-up callable notes with 4% initial rate
By Sarah Lizee
Olympia, Wash., April 16 – Wells Fargo & Co. plans to price step-up callable notes due April 30, 2038, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 4% initially, stepping up to 5% on April 30, 2028 and to 6% on April 30, 2033. Interest will be payable semiannually.
The notes will be callable in whole at par on any quarterly redemption date beginning on April 30, 2023.
The payout at maturity will be par.
Wells Fargo Securities, LLC is the agent.
The notes will price on April 26 and settle on April 30.
The Cusip number is 95001D2J8.
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