Wells Fargo & Company Announces Redemption of Its Series K Preferred Stock
February 12 2020 - 8:00AM
Business Wire
Wells Fargo & Company (NYSE: WFC) today announced that on
March 16, 2020, it will redeem the remaining 1,802,000 shares (the
“Redeemed Shares”) of its Fixed-to-Floating Rate Non-Cumulative
Perpetual Class A Preferred Stock, Series K (the “Series K
Preferred Stock”).
The redemption price will be equal to $1,000.00 per Redeemed
Share. After giving effect to the redemption, no shares of the
Series K Preferred Stock will remain outstanding.
Because the redemption date is also a dividend payment date for
the Series K Preferred Stock, the redemption price does not include
declared and unpaid dividends. Regular quarterly dividends in the
amount of $14.3164 per share of Series K Preferred Stock will be
paid separately in the customary manner on March 16, 2020 to
holders of record at the close of business on February 29,
2020.
All regulatory requirements relating to the redemption of the
Redeemed Shares have been satisfied by Wells Fargo & Company.
The redemption agent is Equiniti Trust Company, 1110 Centre Pointe
Curve, Suite 101, Mendota Heights, Minnesota 55120. Payment of the
redemption price for the Redeemed Shares will be sent to holders by
the redemption agent on the redemption date.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified,
community-based financial services company with $1.9 trillion in
assets. Wells Fargo’s vision is to satisfy our customers’ financial
needs and help them succeed financially. Founded in 1852 and
headquartered in San Francisco, Wells Fargo provides banking,
investment and mortgage products and services, as well as consumer
and commercial finance, through 7,400 locations, more than 13,000
ATMs, the internet (wellsfargo.com) and mobile banking, and has
offices in 32 countries and territories to support customers who
conduct business in the global economy. With approximately 260,000
team members, Wells Fargo serves one in three households in the
United States. Wells Fargo & Company was ranked No. 29 on
Fortune’s 2019 rankings of America’s largest corporations.
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version on businesswire.com: https://www.businesswire.com/news/home/20200212005199/en/
Media Ancel Martinez, 415-222-3858
Ancel.Martinez@wellsfargo.com
Investor Relations John Campbell, 415-396-0523
John.M.Campbell@wellsfargo.com
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