Wells Fargo Registers Preferred & Common Stock on Jan 23
Ticker: WFC-PA · Form: 8-K · Filed: Jan 23, 2024 · CIK: 72971
| Field | Detail |
|---|---|
| Company | Wells Fargo & Company/Mn (WFC-PA) |
| Form Type | 8-K |
| Filed Date | Jan 23, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $1, $2,750,000,000, $3,000,000,000 |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: regulatory-filing, preferred-stock, common-stock, compliance
TL;DR
**WFC just registered a bunch of preferred and common stock with the SEC, making them officially tradable.**
AI Summary
Wells Fargo & Company filed an 8-K on January 23, 2024, to register various classes of its preferred stock and common stock. This filing specifically mentions the 6.625% Fixed-to-Floating Rate Non-Cumulative Perpetual Class A Preferred Stock, among others, indicating that these securities are now formally registered with the SEC. This matters to investors because it confirms the official status and tradability of these specific preferred and common stock offerings, providing transparency and regulatory compliance for those holding or considering these Wells Fargo securities.
Why It Matters
This filing ensures regulatory compliance and transparency for Wells Fargo's various stock offerings, which is crucial for investor confidence and the orderly trading of these securities.
Risk Assessment
Risk Level: low — This is a routine regulatory filing for Wells Fargo & Company, indicating compliance rather than a new risk.
Analyst Insight
A smart investor would note this filing as a routine compliance update, confirming the official status of Wells Fargo's listed securities, and would not expect any immediate market-moving impact from this specific 8-K.
Key Numbers
- 6.625% — Fixed-to-Floating Rate (interest rate for a specific class of Wells Fargo's preferred stock)
- 1/1000th — interest in a share (representation of each NYSE Depositary Share)
Key Players & Entities
- WELLS FARGO & COMPANY/MN (company) — the registrant filing the 8-K
- January 23, 2024 (date) — date of earliest event reported and filing date
- 6.625% (dollar_amount) — fixed-to-floating rate for a class A preferred stock
- 420 Montgomery Street, San Francisco, California 94104 (company) — principal executive offices of Wells Fargo
FAQ
What is the purpose of this 8-K filing by Wells Fargo & Company?
The purpose of this 8-K filing is to report the registration of various classes of Wells Fargo & Company's securities, including common stock and several series of Class A Preferred Stock, such as the 6.625% Fixed-to-Floating Rate Non-Cumulative Perpetual Class A Preferred Stock, as of January 23, 2024.
Which specific preferred stock is highlighted in the filing?
The filing specifically highlights the '6.625% Fixed-to-Floating Rate Non-Cumulative Perpetual Class A Preferred Stock' which is represented by NYSE Depositary Shares, each representing a 1/1000th interest in a share.
What is the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported in this 8-K filing is January 23, 2024.
What is the Commission File Number for Wells Fargo & Company as stated in the filing?
The Commission File Number for Wells Fargo & Company, as stated in the filing, is 001-02979.
Where are Wells Fargo & Company's principal executive offices located according to the filing?
According to the filing, Wells Fargo & Company's principal executive offices are located at 420 Montgomery Street, San Francisco, California 94104.
Filing Stats: 706 words · 3 min read · ~2 pages · Grade level 11.7 · Accepted 2024-01-23 16:38:12
Key Financial Figures
- $1 — ch Registered Common Stock, par value $1-2/3 WFC New York Stock Exchange (NY
- $2,750,000,000 — lowing Medium-Term Notes, Series W: (i) $2,750,000,000 Senior Redeemable Fixed-to-Floating Rat
- $3,000,000,000 — te Notes due January 23, 2030; and (ii) $3,000,000,000 Senior Redeemable Fixed-to-Floating Rat
Filing Documents
- d739879d8k.htm (8-K) — 43KB
- d739879dex41.htm (EX-4.1) — 96KB
- d739879dex42.htm (EX-4.2) — 96KB
- d739879dex51.htm (EX-5.1) — 11KB
- g739879g0122221541229.jpg (GRAPHIC) — 4KB
- 0001193125-24-013029.txt ( ) — 502KB
- wfc-20240123.xsd (EX-101.SCH) — 6KB
- wfc-20240123_def.xml (EX-101.DEF) — 16KB
- wfc-20240123_lab.xml (EX-101.LAB) — 29KB
- wfc-20240123_pre.xml (EX-101.PRE) — 18KB
- d739879d8k_htm.xml (XML) — 15KB
Financial Statements and Exhibits
Financial Statements and Exhibits Exhibits are filed herewith in connection with the Registration Statement on Form S-3 (File No. 333-269514) filed by Wells Fargo & Company (the "Company") with the Securities and Exchange Commission (the "SEC"). On January 23, 2024, the Company issued the following Medium-Term Notes, Series W: (i) $2,750,000,000 Senior Redeemable Fixed-to-Floating Rate Notes due January 23, 2030; and (ii) $3,000,000,000 Senior Redeemable Fixed-to-Floating Rate Notes due January 23, 2035 (collectively, the "Notes"). The purpose of this Current Report is to file with the SEC the following documents: (i) the form of Note related to each issuance; and (ii) the opinion of Faegre Drinker Biddle & Reath LLP regarding the Notes. (d) Exhibits Exhibit No. Description Location 4.1 Form of Medium-Term Notes, Series W, Senior Redeemable Fixed-to-Floating Rate Notes due January 23, 2030. Filed herewith 4.2 Form of Medium-Term Notes, Series W, Senior Redeemable Fixed-to-Floating Rate Notes due January 23, 2035. Filed herewith 5.1 Opinion of Faegre Drinker Biddle & Reath LLP regarding the Notes. Filed herewith 23.1 Consent of Faegre Drinker Biddle & Reath LLP. Included as part of Exhibit 5.1 104 The cover page from this Current Report on Form 8-K, formatted in Inline XBRL. Filed herewith 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. WELLS FARGO & COMPANY DATED: January 23, 2024 /s/ Bryant Owens Bryant Owens Senior Vice President and Assistant Treasurer