Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

WELLS FARGO & COMPANY

(WFC)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Wells Fargo mpany : Announces Redemption of its Series N Preferred Stock and Related Depositary Shares (Form 8-K)

05/14/2021 | 01:25pm EDT

Wells Fargo & Company Announces Redemption of its Series N Preferred Stock and Related Depositary Shares

SAN FRANCISCO - May 12, 2021 - Wells Fargo & Company (NYSE: WFC) today announced that on June 15, 2021, it will redeem the remaining 14,000 shares (the 'Redeemed Preferred Shares') of its Non-Cumulative Perpetual Class A Preferred Stock, Series N (the 'Series N Preferred Stock'). The redemption of the Redeemed Preferred Shares will trigger the redemption of the remaining 14,000,000 shares of the related depositary shares (the 'Redeemed Depositary Shares'), each representing a 1/1,000 interest in a share of Series N Preferred Stock (the 'Series N Depositary Shares') (NYSE: WFC.PRN).

The redemption price will be equal to $25,000.00 per Redeemed Preferred Share and $25.00 per Redeemed Depositary Share. After giving effect to the partial redemption, no shares of the Series N Preferred Stock or the Series N Depositary Shares will remain outstanding.

Because the redemption date is also a dividend payment date for the Series N Preferred Stock and Series N Depositary Shares, the redemption price does not include declared and unpaid dividends. Regular quarterly dividends will be paid separately in the customary manner on June 15, 2021, to holders of record at the close of business on May 28, 2021.

All regulatory requirements relating to the redemption of the Redeemed Preferred Shares and Redeemed Depositary Shares have been satisfied by Wells Fargo & Company. The redemption agent is Equiniti Trust Company, 1110 Centre Pointe Curve, Suite 101, Mendota Heights, Minnesota, 55120. Payment of the redemption price for the Redeemed Depositary Shares will be sent to holders by the redemption agent on the redemption date.

About Wells Fargo

Wells Fargo & Company is a leading financial services company that has approximately $1.9 trillion in assets and proudly serves one in three U.S. households and more than 10% of all middle market companies in the U.S. We provide a diversified set of banking, investment, and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 30 on Fortune's 2020 rankings of America's largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health, and a low-carbon economy.

© 2021 Wells Fargo Bank, N.A. All rights reserved.

Contact Information

Media

Peter Gilchrist, 704-715-3213

peter.gilchrist@wellsfargo.com

Investor Relations

John Campbell, 415-396-0523

john.m.campbell@wellsfargo.com

News Release Category: WF-CF

###

2 May 12, 2021 | News Release

Disclaimer

Wells Fargo & Company published this content on 12 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 May 2021 17:24:14 UTC.


© Publicnow 2021
All news about WELLS FARGO & COMPANY
03:52pSECTOR UPDATE : Health Care Stocks Higher But Biotechs Losing Steam in Late Trad..
MT
03:38pSECTOR UPDATE : Financial Stocks Get Large Boost in Monday Markets
MT
03:12pDOW JONES FXCM DOLLAR INDEX  : Wells Fargo Sees Higher Oil Prices as Demand Edge..
MT
02:54pDJ INDUSTRIAL  : Cybersecurity Firm SentinelOne Launches IPO, Hoping to Raise up..
MT
01:25pSECTOR UPDATE : Health Care Stocks Keeping Pace With Broader Monday Trading
MT
01:08pSECTOR UPDATE : Financial Stocks Gaining This Afternoon
MT
07:53aWESTROCK  : Wells Fargo Adjusts WestRock's Price Target to $71 From $65, Maintai..
MT
07:50aPACKAGING OF AMERICA  : Wells Fargo Adjusts Packaging Corp. of America's Price T..
MT
07:46aINVITATION HOMES  : Wells Fargo Adjusts Invitation Homes' Price Target to $43 Fr..
MT
06:59aPAYMENTUS  : Wells Fargo Starts Paymentus Holdings at Overweight With $35 Price ..
MT
More news
Financials (USD)
Sales 2021 70 752 M - -
Net income 2021 15 475 M - -
Net Debt 2021 - - -
P/E ratio 2021 11,0x
Yield 2021 1,32%
Capitalization 173 B 173 B -
Capi. / Sales 2021 2,44x
Capi. / Sales 2022 2,45x
Nbr of Employees 264 513
Free-Float 75,4%
Chart WELLS FARGO & COMPANY
Duration : Period :
Wells Fargo & Company Technical Analysis Chart | WFC | US9497461015 | MarketScreener
Technical analysis trends WELLS FARGO & COMPANY
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 47,69 $
Last Close Price 41,75 $
Spread / Highest target 43,7%
Spread / Average Target 14,2%
Spread / Lowest Target -28,1%
EPS Revisions
Managers and Directors
NameTitle
Charles William Scharf President, Chief Executive Officer & Director
Michael Santomassimo Chief Financial Officer & Senior Executive VP
Charles H. Noski Chairman
Saul van Beurden Senior Executive VP & Head-Technology
Gary Owen Chief Information Security Officer
Sector and Competitors