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Prospect News home > News index > List of issuers T > Headlines for Tenders 2011 > News item
Published on 10/24/2011 in the Prospect News Investment Grade Daily, Prospect News Liability Management Daily and Prospect News Preferred Stock Daily.

Wells Fargo to redeem $40 million of capital securities on Dec. 15

By Ashley Montgomery

Kansas City, Kan., Oct. 24 - Wells Fargo & Co. announced the planned redemption of $40 million of its capital securities from two trusts on Dec. 15, according to an 8-K filing with the Securities and Exchange Commission Monday.

The following securities are affected:

• $15 million principal amount of floating-rate capital securities from United Bancorporation of Wyoming Capital Trust III; and

• $25 million principal amount of capital securities from Placer Statutory Trust IV.

The redemptions will be funded with the company's excess cash, according to the filing.

Wells Fargo is a financial services company based in San Francisco.


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