Wells Fargo said on March 15, 2024 that it will redeem all 33,600 outstanding shares of its 6.625% Fixed-to-Floating Rate Non-Cumulative Perpetual Class A Preferred Stock, Series R, on February 6, 2024.

1. 01

   Wells Fargo said on March 15, 2024 that it will redeem all 33,600 outstanding shares of its 6.625% Fixed-to-Floating Rate Non-Cumulative Perpetual Class A Preferred Stock, Series R, on February 6, 2024.

2. 02

   The company said the redemption of the Series R preferred stock will trigger the redemption of 33,600,000 related depositary shares, with a redemption price of $25,000.00 per preferred share and $25.00 per depositary share.

3. 03

   The company said the redemption date is also a dividend payment date for the Series R preferred stock and the depositary shares, so the redemption prices do not include declared and unpaid dividends. Regular quarterly dividends will be paid separately on February 29, 2024, to holders of record at the close of business on March 15.

4. 04

   The company said no shares of the Series R preferred stock or the Series R depositary shares will remain outstanding after the redemption, and all regulatory requirements relating to the redemption have been satisfied. Equiniti Trust Company, LLC is the redemption agent.

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Original filing

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