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Wells Fargo capital issuances include preferred stock, depositary shares (representing interests in shares of preferred stock) and trust preferred securities, some of which are listed on the New York Stock Exchange, as well as private transactions. The following summarizes certain terms of these depositary shares and trust preferred securities and includes links to the relevant prospectus supplements for these securities, if available.
A potential investor should carefully read the relevant prospectus supplement and accompanying prospectus to understand fully the terms of these securities, as well as the tax and other considerations that are important in making a decision about whether to invest in one of these securities.
Preferred Stock
Dividends for each of the preferred stock issuances listed below are non-cumulative, with the exception of the Dividend Equalization Preferred Shares, which no longer pay a dividend.
| Issuance | Announcement Date | Callable on or after | Coupon | Final Maturity | Payment Dates | Record Dates |
|---|---|---|---|---|---|---|
| Non-Cumulative Convertible Perpetual Preferred Series L (WFC L) (PDF) | 04/14/2008 | Not callable; optionally convertible by holder and issuer into common stock of Wells Fargo & Company | 7.5% | Perpetual | 03/15, 06/15, 09/15, 12/15 | Last day of month preceding payment date |
| Non-Cumulative Perpetual Preferred Series S (PDF) | 04/14/2014 | 06/15/2024 | 5.90% through 6/15/24; 9.01% thereafter | Perpetual | 06/15, 12/15 until 06/15/2024; then 03/15, 06/15, 09/15, 12/15 | Last business day of month preceding payment date |
| Non-Cumulative Perpetual Preferred Series U (PDF) | 01/15/2015 | 06/15/2025 | 5.875% through 6/15/25; 9.865% thereafter | Perpetual | 06/15, 12/15 until 06/15/2025; then 03/15, 06/15, 09/15, 12/15 | Last business day of month preceding payment date |
| Non-Cumulative Perpetual Preferred Series Y (PDF) | 04/17/2017 | 06/15/2022 | 5.625% | Perpetual | 03/15, 06/15, 09/15, 12/15 | Last business day of month preceding payment date |
| Non-Cumulative Perpetual Preferred Series Z (PDF) CUSIP: 94988U151 Amount: $2,012.5 million | 01/15/2020 | 03/15/2025 | 4.75% | Perpetual | 03/15, 06/15, 09/15, 12/15 | Last business day of month preceding payment date |
| Non-Cumulative Perpetual Preferred Series AA (PDF) CUSIP: 94988U128 Amount: $1,170 million | 10/21/2020 | 12/15/2025 | 4.70% | Perpetual | 03/15, 06/15, 09/15, 12/15 | Last business day of month preceding payment date |
| Non-Cumulative Perpetual Preferred Series BB (PDF) CUSIP: 949746TD3 Amount: $3,510 million | 01/19/2021 | 03/15/2026 | 3.90% to 3/15/26; resets to 5 year CMT + 3.453% to 3/15/26 and every 5 years thereafter | Perpetual | 03/15, 06/15, 09/15, 12/15 | Last business day of month preceding payment date |
| Non-Cumulative Perpetual Preferred Series CC (PDF) CUSIP: 95002Y202 Amount: $1,050 million | 01/25/2021 | 03/15/2026 | 4.375% | Perpetual | 03/15, 06/15, 09/15, 12/15 | Last business day of month preceding payment date |
| Non-Cumulative Perpetual Preferred Series DD (PDF) | 7/20/2021 | 09/15/2026 | 4.25% | Perpetual | 03/15, 06/15, 09/15, 12/15 | Last business day of month preceding payment date |
| Non-Cumulative Perpetual Preferred Series EE (PDF) | 7/17/2023 | 9/15/2028 | 7.625% to 9/15/28; resets to 5 year CMT + 3.606% to 9/15/28 and every 5 years thereafter | Perpetual | 03/15, 06/15, 09/15, 12/15 | Last business day of month preceding payment date |
| Dividend Equalization Preferred Shares (see more information below) (WFCNP) | 09/01/2001 | 01/01/2022 | Not applicable | Perpetual | Not applicable | Not applicable |
Trust Preferred
Note: Dividends for each of the Trust Preferred issuances listed below are cumulative.
| Issuance | Announcement Date | Callable Date | Coupon | Final Maturity | Payment Dates | Record Dates |
|---|---|---|---|---|---|---|
| Corestates Capital III (PDF) | 01/27/1997 | 02/15/2007 | 3m Term SOFR + 0.57% + 0.26161% | 02/15/2027 | 02/15, 05/15, 08/15, 11/15 | First day of the month of payment date |
| Corestates Capital II (PDF) | 01/16/1997 | 01/15/2007 | 3m Term SOFR + 0.65% + 0.26161% | 01/15/2027 | 01/15, 04/15, 07/15, 10/15 | First day of the month of payment date |
