Wells Fargo & Co., 5.85% Fixed-to-Floating Non-Cumulative Perpetual Pfd Stock Ser Q

Coupon will be fixed at 5.85% until 9/15/2023 after which is will float at a rate of 3 month Libor plus a spread of 3.09%

Can only be redeemed on dividend payment date

WFC announced on 5/12/2023 that when the floating rate period begins on 9/15/2023 the rate will be fixed at 8.94% there after because of the discontinence of LIBOR on 6/30/2023 – the press release is here.

Redeemed 09/15/2023

Ticker: WFC-Q

Parent Ticker: WFC

OTC Grey Market Temporary Ticker: NA

Issuance Date: 07/15/2013

1st Call Date: 09/15/2023

Maturity Date: None

Shares Issued: 60,000,000

Overallotment Shares: 9,000,000

Coupon: 5.85%

Face Value: $25.00

Cumulative: No

Qualified: Yes

Quarterly Dividend Amount: 0.366

Payment Months: MAR, JUN, SEP, DEC

Payment Day: 15

S&P Rating: BB+

III Rating (In Regards to Dividend Safety Only): B

Moody Rating: Baa2

Fitch Rating: NR

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