Wells Fargo said in a press release on May 9, 2024 that it will redeem all 80,000 outstanding shares of its 5.90% Fixed-to-Floating Rate Non-Cumulative Perpetual Class A Preferred Stock, Series S, on June 15 (which will shift to June 17 due to a non-business day).

1. 01

   Wells Fargo said in a press release on May 9, 2024 that it will redeem all 80,000 outstanding shares of its 5.90% Fixed-to-Floating Rate Non-Cumulative Perpetual Class A Preferred Stock, Series S, on June 15 (which will shift to June 17 due to a non-business day).

2. 02

   The company said the redemption price will be $25,000.00 per Series S preferred share and $1,000.00 per Series S depositary share. The redemption of the preferred shares will also redeem 2,000,000 depositary shares, each representing a 1/25 interest.

3. 03

   The company said no Series S preferred shares or Series S depositary shares will remain outstanding after the redemption, and the redemption prices do not include declared and unpaid dividends. Regular quarterly dividends will be paid separately on June 15 (which will shift to June 17 due to a non-business day) to holders of record at the close of business on May 31.

4. 04

   The company said all regulatory requirements relating to the redemption have been satisfied. The redemption agent is Equiniti Trust Company, LLC, and it will send payment of the redemption price for the depositary shares to holders on the redemption date.

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Original filing

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