Wells Fargo & Co. on March 18 issued series T medium-term notes due March 18, 2026.

The notes will initially bear annual interest of 3.40% from March 18 to March 17, 2022. The interest will later increase to 3.80% per year from March 18, 2022, to March 17, 2025, and to 4.20% from March 18, 2025, to March 17, 2026.

Interest payments will be made March 18 and Sept. 18 of each year.

Faegre Baker Daniels LLP provided legal opinion on the issuance of the notes.