Wells Fargo Announces Full Redemption of Capital Securities

By Philip Seaworth • Friday, May 30 15:32 • Permanent Link

Wells Fargo & Company (NYSE: WFC) and Wells Fargo Bank, National Association have announced the full redemption of the capital securities issued by CoreStates Capital II and CoreStates Capital III. The redemption date is set for June 30, 2025, and the redemption price for each security will be equal to 100% of the principal amount of the securities plus accumulated and unpaid distributions to, but excluding, the Redemption Date.

The principal amount of the Floating Rate Subordinated Capital Income Securities issued by CoreStates Capital II is $150,000,000 ($1,000 per Security) with CUSIP 218694AA5. On the other hand, the principal amount of the Floating Rate Capital Trust Pass-through Securities issued by CoreStates Capital III is $300,000,000 ($1,000 per Security) with CUSIP 21869MAA5.

Wells Fargo & Company is a leading financial services company with approximately $1.9 trillion in assets. The company provides a diversified set of banking, investment, and mortgage products and services, as well as consumer and commercial finance, through its four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 34 on Fortune’s 2024 rankings of America’s largest corporations.

As a result of these announcements, the company's shares have moved 0.29% on the market, and are now trading at a price of $74.73. For more information, read the company's full 8-K submission here.

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