Wells Fargo & Company Reports Full Redemption of Series BB Preferred Stock
Summary
Wells Fargo & Company announced on February 25, 2026, via Ex. 99.1, its plan to redeem all 140,400 outstanding shares of its 3.90% Fixed Rate Reset Non-Cumulative Perpetual Class A Preferred Stock, Series BB, and 3,510,000 related depositary shares. The redemption date is set for March 15, 2026, shifting to March 16, 2026, due to a non-business day. The redemption price will be $25,000.00 per preferred share and $1,000.00 per depositary share. After this, no shares of these securities will remain outstanding.
Why It Matters
This full redemption, as detailed in Ex. 99.1, impacts Wells Fargo's capital structure by reducing outstanding preferred equity and associated dividend obligations, potentially optimizing its cost of capital.
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Filing Details
Reported Items
Additional Information
- CIK Number
- 0000072971
- Filing Date
- Wednesday, February 25, 2026
- Filing Time
- 12:00 AM UTC
- Form Type
- 8-K
- Materiality Level
- medium
- Sentiment
- neutral