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.

Ticker: WFC-R

Parent Ticker: WFC

OTC Grey Market Temporary Ticker: NA

Issuance Date: 12/11/2013

1st Call Date: 03/15/2024

Maturity Date: None

Shares Issued: 30,000,000

Overallotment Shares: 4,500,000

Coupon: 6.625%

Face Value: $25.00

Cumulative: No

Qualified: Yes

Quarterly Dividend Amount: 0.414

Ex-Dividend Months: FEB, MAY, AUG, NOV

Approx. Ex-Dividend Day: 30

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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