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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
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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.
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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
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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
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415-371-2921
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| Toll Free Phone Number |
888-662-7865 |
| CEO - Charles W. Scharf |
CFO - Michael P. Santomassimo |
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