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Wells Fargo & Co., 6.625% Dep Shares Fixed/Float Non-Cumul Perp Pfd Stock Ser R
Ticker Symbol: WFC-R     CUSIP: 949746465     Exchange: NYSE
Security Type:   Traditional Preferred Stock

QUANTUMONLINE.COM SECURITY DESCRIPTION:  Wells Fargo & Co., 6.625% depositary shares, each representing a 1/1,000th interest in a share of the Fixed-to-Floating Rate Non-Cumulative Perpetual Class A Preferred Stock, Series R, liquidation preference $25 per depositary share, redeemable at the issuer's option on or after 3/15/2024 at $25 per depositary share plus declared and unpaid dividends, and with no stated maturity. Non-Cumulative fixed distributions of 6.625% per annum ($1.65625 per annum or $0.4140625 per quarter) will be paid quarterly on 3/15, 6/15, 9/15 & 12/15 to holders of record on the record date that will be the last day of the month prior to the payment date or such other date fixed by the board (NOTE: the ex-dividend date is one business day prior to the record date). On or after 3/15/2024 distributions will be paid at an annual floating rate equal to three-month LIBOR plus 3.69%. This security is possibly subject to an early call as a result of the occurrence of a regulatory capital treatment event which no longer allows the company to include the funds originating from this security as Tier 1 capital on their balance sheet (see the prospectus for further information). Dividends paid by this preferred are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and are also eligible for the dividends received deduction for corporate holders (see page 114 of the prospectus for further information). This security was rated as Baa2 by Moody’s and BBB+ by S&P at the date of its IPO. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
Stock
Exchange
Cpn Rate
Ann Amt
LiqPref
CallPrice
Call Date
Matur Date
Moodys/S&P
Dated
Distribution Dates 15%
Tax Rate
NYSE
Chart
FixFloat
$1.66
$25.00
$25.00
3/15/2024
None
Baa2 BB+
2/22/2022
3/15, 6/15, 9/15 & 12/15
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
YES

Go to Parent Company's Record (WFC)

IPO - 12/11/2013 - 30.00 Million Shares @ $25.00 /share.    Link to IPO Prospectus
Previous Ticker Symbol: WEFAL    Changed: 12/19/2013
Market Value $750.0 Million

Company's Online Information Links
HOME PAGE:     https://www.wellsfargo.com/
Company's Investor Relations Information Go to Investor Relations Information
Company's Online News Releases Go to News Releases
Online Company Profile Go to Online Profile

Company's Online SEC EDGAR Filings
Company's SEC EDGAR Filings Go to SEC Filings

Company's Email Address Links
Email Address investorrelations@wellsfargo.com

Address and Phone Numbers
Address:   420 Montgomery Street, San Francisco, CA 94163
Main Phone Number 866-249-3302
Fax Number Not Available
Investor Relations 415-371-2921
Toll Free Phone Number 888-662-7865
CEO - Charles W. Scharf CFO - Michael P. Santomassimo

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