Rate is fixed until 7/14/2025 at 6.50% after which it will float at the rate of 3 month Libor plus a spread of 4.06%
May only be redeemed on a dividend payment date
Sector: Banking
Wells Fargo & Co., 8.00% Non-Cumulative Perpetual CIass A Preferred Stock Series J
Wells Fargo & Co., 6.625% Fixed to Floating Non-Cumulative Perpetual Preferred Stock Series R
Coupon will be fixed at 6.625% until 3/15/2024 after which it will float at a rate of 3 month Libor plus a spread of 3.69%
Can only be redeemed on dividend payment date
WFC announced on 5/12/2023 that when the floating rate period begins on 3/15/2024 the rate will be fixed at 10.315% there after because of the discontinence of LIBOR on 6/30/2023 – the press release is here.
Wells Fargo & Co., 6.00% Non-Cumulative Class A Preferred Stock Series V
Can only be redeemed on dividend payment date
Wells Fargo & Co., 6.00% Non-Cumulative Class A Preferred Stock Series T
Can only be redeemed on dividend payment date
2/12/2020 Company announced the redemption of 26.7 million shares