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Wells Fargo Capital XII, 7.875% Enhanced TruPS Trust Preferred Securities
Ticker Symbol: BWF* CUSIP: 94985V202 Exchange: NYSE
* NOTE: This security is no longer trading as of 4/15/2013
Security has been Called for: Friday, March 15, 2013
January 30, 2013 -- Effective immediately, the 7.875% Enhanced Trust Preferred Securities (Enhanced TRUPS) of WELLS FARGO CAPITAL XII shall be dealt in as called issues (BWF CL). This issue will be called for redemption on March 15, 2013 at $25.00 per share plus any accrued distributions. ____________ March 13, 2012, Excerpt for the Wells Fargo news release -- The Company also announced that the Federal Reserve did not object to its Capital Plan submitted in January 2012, or to the dividend rate increase and other capital actions included in the plan. The plan also includes selective redemptions of trust preferred securities that no longer count as Tier 1 Capital under the Dodd-Frank Act. ____________ This security is possibly subject to an early call as a result of the occurrence of a capital treatment event (see prospectus for further information) stemming from the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act which no longer allows the company to include the funds originating from this security as Tier 1 capital on their balance sheet.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Wells Fargo Capital XII, 7.875% Enhanced Trust Preferred Securities (Enhanced TruPS), liquidation amount $25 per share, guaranteed on a subordinated basis by Wells Fargo & Co. (NYSE: WFC) (See our definition of Guaranteed in our Glossary of Income Investing Terms for the technicalities of the guarantee), redeemable at the issuer's option on or after 3/15/2013 at $25 per share plus accrued and unpaid dividends, and maturing 3/15/2068. Distributions of 7.875% ($1.96875) per annum are paid quarterly on 3/15, 6/15, 9/15 & 12/15 to holders of record on the record date which is one business day prior to the payment date while the securities remain in book-entry form (NOTE: the ex-dividend date is at least 2 business days prior to the record date). Dividends paid by trust preferred securities are derived from interest paid to the underlying debt securities and therefore are NOT eligible for the 15% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. The company has the right, at any time, to defer dividend payments for up to 40 consecutive quarters without giving rise to an event of default (but not beyond the maturity date) and up to 20 consecutive quarters before the alternative payment mechanism takes effect. The trust's assets consist of the 7.875% Junior Subordinated Deferrable Interest Debentures due 3/15/2068 which were purchased from the company using the funds generated from the sale of the trust preferred securities. See the IPO prospectus for further information on the trust preferred securities by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (WFC)
IPO - 3/7/2008 - 56.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Previous Ticker Symbol: WFCPP Changed: 3/19/2008
Market Value $1.4 Billion
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 420 Montgomery Street, San Francisco, CA 94163 |
| Main Phone Number |
866-249-3302 |
| Fax Number |
Not Available |
| Investor Relations
Jim Rowe
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415-396-8216
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| Toll Free Phone Number |
888-662-7865 |
| CEO - John G. Stumpf |
CFO - Timothy J. Sloan |
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