This morning, J has pointed out on the Reader Initiated Alerts page, that Wells Fargo (WFC) would be calling 3 issues of perpetual preferred stock.
They will call the 5.25% WFC-P issue, the 5.70% WFC-W issue and a portion of the 5.20% WFC-N issue
We noted this would likely happen back on 1/25/2021 when the company issued new preferred stock.
The redemption will occur on 3/15/2021–a normal dividend payment date.
I own some of the WFC-W and had a feeling it might get called. At a hair over 5% it is no great loss, there are better deals out there.
You are only proven right or wrong by tomorrow on wall street….And tomorrow ain’t here yet!
Well to all the soothsayers that predicted the demise of WFC I would just say they were wrong. I own the WFC+L & the WFC+R. Wish I would have bought a ton more back in March when I did snag 100 of the WFC+L at $1,041.