Wells Fargo & Co (New) | 4.70% Dep Shares Non-Cumul Class A Preferred Stock Series AA (WFC.PRA)
Prospectus excerpt: Wells Fargo & Company is offering 46,800,000 depositary shares, each representing a 1/1,000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series AA, no par value, with a liquidation preference amount of $25,000 per share (equivalent to $25 per depositary share) (the “Series AA Preferred Stock”). Each depositary share entitles the holder, through the depositary, to a proportional fractional interest in all rights, powers and preferences of the Series AA Preferred Stock represented by the depositary share. Dividends on the Series AA Preferred Stock, when, as and if declared by our board of directors or a duly authorized committee of the board, will accrue and be payable on the liquidation preference amount of $25,000 per share, on a non-cumulative basis, quarterly in arrears on the 15th day of March, June, September and December of each year, commencing on December 15, 2020, at a rate per annum equal to 4.70%. If our board of directors or a duly authorized committee of the board has not declared a dividend on the Series AA Preferred Stock before the dividend payment date for any dividend period, such dividend shall not be cumulative and shall not accrue or be payable for such dividend period, and we will have no obligation to pay dividends for such dividend period, whether or not dividends on the Series AA Preferred Stock are declared for any future dividend period.
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Wells Fargo & Company is a financial holding company and a bank holding company. Through its subsidiaries, Co. provides banking, investment and mortgage products and services, as well as consumer and commercial finance. Co. provides consumer financial products and services including checking and savings accounts, credit and debit cards, and auto, mortgage and home equity, and small business lending, as well as financial planning, private banking, investment management, and fiduciary services. Co. also provides financial solutions including commercial loans and lines of credit, letters of credit, asset-based lending, trade financing, treasury management, and investment banking services. Preferreds: WNA.PR, WFC.PRJ, WFC.PRL, WFC.PRN, WFC.PRO, WFC.PRP, WFC.PRQ, WFC.PRR, WFC.PRT, WFE.PRA, WFC.PRV, WFC.PRW, WFC.PRX, WFC.PRY, WFC.PRZ, WFC.PRA, WFC.PRC, WFC.PRD Open the WFC Information Page » |
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