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.