Wells Fargo & Company Announces Redemption of its Floating Rate Junior Subordinated Deferrable Interest Debentures

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Key Terms

floating rate financial

An interest rate on a loan, bond or deposit that is not fixed but resets at regular intervals based on a reference market rate plus a set margin, so the payments rise or fall as overall interest rates change. For investors, floating-rate instruments act like a weather vane: they can protect income when rates climb by increasing payouts, but they introduce unpredictable cash flow and price movement when rates fall or shift, affecting expected yield and valuation.

junior subordinated financial

A junior subordinated obligation is a type of debt or claim that ranks below other debts for repayment, meaning it gets paid only after senior creditors have been satisfied. Think of it as being later in line at a store checkout: because it is riskier if the borrower runs into trouble, it usually offers higher interest or other perks, so investors care about it for the trade-off between bigger potential returns and greater chance of loss in default.

debentures financial

A debenture is a company’s long-term IOU sold to investors that promises regular interest payments and repayment of principal at a set date; unlike equity, it represents debt rather than ownership. Think of it like lending money to a business in exchange for a fixed stream of payments, so investors watch a debenture’s interest rate and the borrower’s financial health to judge income reliability and risk of not being repaid.

CUSIP financial

A CUSIP is a nine-character alphanumeric code that uniquely identifies a U.S. or Canadian financial security—such as a stock, bond, or fund share—like a Social Security number for an investment. It matters to investors because brokers, exchanges and record-keepers use the CUSIP to match trades, track ownership, settle transactions and pull accurate records, reducing errors and ensuring money and securities go to the right place.

covenant financial

A covenant is a promise written into a loan or bond agreement that requires a borrower to do certain things or refrain from others—like keeping a steady level of cash, limiting extra borrowing, or providing regular reports. Think of it as house rules set by lenders to reduce the chance of surprise problems; for investors, covenants matter because they affect a borrower’s freedom to act, can signal credit risk, and may trigger repayment or renegotiation if broken.

preferred stock financial

Preferred stock is a type of ownership in a company that typically offers investors higher and more consistent dividend payments than common stock. Unlike regular shares, preferred stock usually doesn’t come with voting rights but provides a priority claim on the company’s assets and profits, making it a more stable and predictable investment option. This makes preferred stock attractive to those seeking steady income with lower risk.

12/12/2025 - 08:00 AM

SAN FRANCISCO--(BUSINESS WIRE)-- Wells Fargo & Company (NYSE: WFC) (“Wells Fargo”) today announced that it will redeem all of its Floating Rate Junior Subordinated Deferrable Interest Debentures due January 15, 2027 (CUSIP No. 949746TG6*) (the “Debentures”) on January 15, 2026 (the “Optional Prepayment Date”). The optional prepayment price will be equal to 100% of the principal amount of the Debentures plus accrued and unpaid interest to, but excluding, the Optional Prepayment Date.

Facade of a Wells Fargo bank branch in Manhattan (Photo: Wells Fargo)

Upon the redemption of the Debentures on the Optional Prepayment Date, a covenant that Wells Fargo made for the benefit of the holders of the Debentures will no longer place conditions on Wells Fargo’s ability to repurchase or redeem its 3.90% Fixed Rate Reset Non-Cumulative Perpetual Class A Preferred Stock, Series BB.

*The CUSIP number listed above is for information purposes only. Wells Fargo is not responsible for the selection or use of this CUSIP number, and no representation is made as to its correctness on any of the Debentures.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $2.1 trillion in assets. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our 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. News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories.

Additional information may be found at www.wellsfargo.com
LinkedIn: https://www.linkedin.com/company/wellsfargo

News Release Category: WF-CFH