Wells Fargo to Fully Redeem Series BB Preferred Stock

By Chris Stiles • Wednesday, February 25 14:41 • Permanent Link

Wells Fargo & Company (NYSE: WFC) has announced the full redemption of its Series BB Preferred Stock and related Depositary Shares, with the redemption date set for March 16, 2026. This redemption will involve 140,400 outstanding shares of its 3.90% Fixed Rate Reset Non-Cumulative Perpetual Class A Preferred Stock, Series BB, and will trigger the redemption of the 3,510,000 outstanding shares of the related depositary shares, each representing a 1/25 interest in a share of Series BB Preferred Stock. The redemption price for the Series BB Preferred Stock is $25,000.00 per share, and for the Series BB Depositary Shares, it is $1,000.00 per share. After the redemption, no shares of the Series BB Preferred Stock or the Series BB Depositary Shares will remain outstanding.

It's important to note that because the redemption date is also a dividend payment date for the Series BB Preferred Stock and the Series BB Depositary Shares, the redemption prices mentioned do not include declared and unpaid dividends. Regular quarterly dividends will be paid separately in the customary manner on March 16, 2026, to holders of record at the close of business on February 27, 2026.

Wells Fargo & Company is a leading financial services company with approximately $2.1 trillion in assets, providing 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. 33 on Fortune’s 2025 rankings of America’s largest corporations. Today the company's shares have moved -0.65% to a price of $88.38. For the full picture, make sure to review WELLS FARGO & COMPANY/MN's 8-K report.

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