Company: WFC-PC
Filing Date: 2025-06-06
Form Type: S-3
Source: 0001193125-25-137239
Chunk: 39

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-06-06
Form: S-3
Chunk 39
---
 next business day, but interest on that payment will not accrue during the period from and after the maturity, redemption or repayment date, as the case may be. Base Rates. Compounded SOFR Notes. The rate of interest on Compounded SOFR notes will be based on a compounded average of the daily SOFR, and any spread and/or spread multiplier and will be subject to the minimum interest rate and the maximum interest rate, if any. References to “ our designee” in this section “—Compounded SOFR Notes” and under “Risk Factors—Risks Relating To SOFR, Compounded SOFR And A Benchmark Replacement” shall mean the calculation agent named in the applicable prospectus supplement. The calculation agent will determine Compounded SOFR, the interest rate and the amount of interest payable for each interest period in arrears as soon as reasonably practicable on or after the last day of the applicable observation period (as defined below), and in any event on or prior to the business day immediately preceding the relevant interest payment date, and will notify us of Compounded SOFR and such interest rate and the amount of interest payable for each interest period as soon as reasonably practicable after such determination, but in any event by the business day immediately prior to the interest payment date. Unless otherwise specified in the applicable prospectus supplement, the “ observation period” in respect of each interest period for Compounded SOFR notes will be the period from, and including, the date that is two U.S. Government Securities Business Days preceding the first date in such interest period to, but excluding, the date that is two U.S. Government Securities Business Days preceding the interest payment date for such interest period. 27

With respect to the observation period corresponding to any interest period, “ Compounded SOFR” will be a compounded average of daily SOFR over such observation period, calculated in accordance with the formula set forth below, with the resulting percentage being rounded, if necessary, to the nearest one hundred-thousandth of a percentage point (0.000005 being rounded upwards to 0.00001): where for purposes of applying the above formula to the terms of the Compounded SOFR notes: “ d 0”, for any observation period, is the number of U.S. Government Securities Business Days in the relevant observation period; “ i” is a series of whole numbers from one to d 0, each representing the relevant U.S. Government Securities Business Days in chronological order from, and including, the first U.S.