JasonDoiy/iStock Unreleased via Getty Images
Wells Fargo (NYSE:WFC) announced on Friday the redemption of capital securities worth $450M in principal amount on June 30.
The transaction includes $150M worth of floating rate subordinated capital income securities and $300M worth of floating rate capital trust pass-through securities.
The redemption price for each security will be equal to 100% of the principal amount, plus any accumulated and unpaid distributions.
More on Wells Fargo
- Wells Fargo & Company (WFC) Bernstein 41st Annual Strategic Decisions Conference
- Wells Fargo: There Are Currently Far Better Deals In The Banking Sector
- Wells Fargo Is Back In The Game And Nobody’s Watching
- Wells Fargo to sell assets of rail equipment leasing unit
- Wells Fargo confirms termination of 2015 regulatory agreements on previously-held subsidiaries