WELLS FARGO & COMPANY/MN 8K

Wells Fargo & Company created a new non-cumulative, fixed-to-reset perpetual preferred stock series (Series HH) with defined dividend, liquidation, redemption, and limited voting rights, intended to qualify as regulatory capital.

Wells Fargo & Company filed a Certificate of Designation establishing a new series of preferred stock, the 6.55% Fixed Rate Reset Non-Cumulative Perpetual Class A Preferred Stock, Series HH, authorizing 70,000 no-par-value shares with a $25,000 per share liquidation preference that pay non-cumulative quarterly dividends at a fixed 6.55% rate until September 15, 2031 and thereafter at the five-year U.S. Treasury rate plus 2.174%, are redeemable at the issuer’s option (including upon a regulatory capital treatment event) subject to Federal Reserve approval, rank senior to common stock and on parity with other parity preferred for dividends and liquidation, and carry limited voting rights primarily in the event of prolonged dividend nonpayment or proposed actions adversely affecting the series’ rights.

Filing Facts

CIK

72971

Ticker

WFC

Form

8K

Source Type

sec

Accession

0001193125-26-356890

Alert Tier

6