The FINANCIAL -- SAN FRANCISCO -- Wells Fargo & Company announced it will redeem on September 17, 2018 of all of its 8.00% Non-Cumulative Perpetual Class A Preferred Stock, Series J, and the corresponding depositary shares, each representing a 1/40th interest in a share of Series J Preferred Stock.
The depositary shares are traded on the New York Stock Exchange under the symbol WFCPrJ. The Series J Preferred Stock will be redeemed at a redemption price equal to $1,000.00 per share, or $25.00 per depositary share.
Because the redemption date is also the dividend payment date, the redemption price does not include declared and unpaid dividends. Regular quarterly dividends in the amount of $20.00 per share of Series J Preferred Stock, or $0.50 per depositary share, will be paid separately in the customary manner on September 17, 2018 to holders of record at the close of business on August 31, 2018.
The redemption agent for the Series J Preferred Stock is Equiniti Trust Company, 1110 Centre Pointe Curve, Suite 101, Mendota Heights, Minnesota 55120. Payment of the redemption price will be sent automatically to holders by the redemption agent following the redemption date.