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WFC-L Wells Fargo 7.50% Non-Cumulative Convertible Class A Preferred Series L

Dividends on the Series L Preferred Stock will be payable quarterly in arrears, if, as and when declared by our board of directors, at a rate per annum equal to 7.50%. The Dividend Payment Dates will be the 15th day of each March, June, September and December, commencing on June 15, 2008. Dividends on the Series L Preferred Stock will be non-cumulative. Each share of the Series L Preferred Stock will be convertible at any time, at your option, into 32.0513 shares of our common stock (equivalent to an initial conversion price of approximately $31.20 per share of our common stock), plus cash in lieu of fractional shares, subject to adjustment as described in the prospectus. The conversion rate will be adjusted as described in the prospectus upon the occurrence of certain other events. The Series L Preferred Stock is not redeemable by us at any time. On or after March 15, 2013, if the closing price of our common stock exceeds 130% of the conversion price for 20 trading days during any consecutive 30 trading day period, including the last day of such period, we may, at our option, cause some or all of the then outstanding Series L Preferred Stock to be automatically converted into our common stock at the then prevailing conversion rate.   This security was issued by Wells Fargo, whose common stock symbol is WFC.

$1,128.43  +10.93 (0.98%)
As of 03/27/2023 11:37:27 EST     IEX book   CBOE book

Security Information
Category1:  US Equity
Category2:  Preferred stocks
Category3:  Convertible
GICS sector:  Financials
Industry:  Banks—Diversified
Index country:  USA
Country of incorporation:  USA
IPO date:  11/13/2013
Outstanding shares:  3,500,000
Average volume:  14,592
Market cap:   $3,946,950,000
Current dividend yield:  6.65%    calculation
Coupon rate:    7.500%
Cumulative:    No
Liquidation value:   $1,000.00
Callable after:   01/01/1900
Maturity date:    n/a - perpetual
Prospectus:    Read on SEC.gov
All SEC filings:     SEC Edgar Online
Quarterly filings:   10-Q
Annual filings:      10-K
Sedol:      B3KRSW9

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