SAN FRANCISCO (dpa-AFX) - Wells Fargo & Company (WFC) on Friday said it will redeem its Floating Rate Junior Subordinated Deferrable Interest Debentures, originally due January 15, 2027, on January 15, 2026.
The optional prepayment price will be 100% of the principal amount plus accrued interest up to the redemption date.
Wells Fargo added that once the debentures are redeemed, a related covenant will no longer restrict the company from repurchasing or redeeming its 3.90% Series BB preferred stock.
Wells Fargo shares closed Thursday's trading at $92.59, up 2.1%.
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