Wells Fargo To Redeem $450M In Capital Securities | Global Market News
(RTTNews) – Wells Fargo & Company (WFC) and its banking subsidiary, Wells Fargo Bank, N.A., introduced that the Bank has submitted redemption notices for sure capital securities to the property trustee.
The securities, issued by CoreStates Capital II and CoreStates Capital III, are scheduled for redemption on June 30, 2025.
The redemptions embody $150 million in Floating Rate Subordinated Capital Income Securities from CoreStates Capital II and $300 million in Floating Rate Capital Trust Pass-through Securities from CoreStates Capital III. Each might be redeemed at 100% of their principal worth ($1,000 per security), plus any gathered and unpaid distributions up to however not together with the redemption date.
The supplied CUSIP numbers (218694AA5 and 21869MAA5) are for reference solely, and the Bank and trustee assume no duty for his or her accuracy or utilization.
Friday, WFC closed at $74.78, up 0.36%, earlier than slipping 0.07% in after-hours trading to $74.73 on the NYSE.
The views and opinions expressed herein are the views and opinions of the writer and don’t essentially mirror these of Nasdaq, Inc.
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