UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (date of earliest event reported): March 24, 2011
WELLS FARGO & COMPANY
(Exact name of registrant as specified in its charter)
| Delaware | 001-2979 | No. 41-0449260 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
420 Montgomery Street, San Francisco, California 94163
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: 1-866-249-3302
Not applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Item 8.01 | Other Events |
On March 24, 2011, Wells Fargo & Company (the “Company”) submitted redemption notices to the property trustee for each trust listed below, which will result in the redemption of the trust preferred securities identified below on the date specified for each security. Under applicable regulatory capital guidelines issued by bank regulatory agencies, upon notice of redemption, the trust preferred securities will no longer qualify as Tier 1 capital for the Company. These redemptions are consistent with the capital plan the Company submitted to the Federal Reserve Board and the actions the Company previously announced on March 18, 2011, and will be funded with excess cash currently available to the Company.
| Trust |
Security |
Principal Amount |
CUSIP | Redemption Date |
||||||||||
| CoreStates Capital I |
8% Capital Trust Pass-through Securities | $ | 300,000,000 | 218698AA6 | April 25, 2011 | |||||||||
| GBB Capital II |
Floating Rate Capital Securities | $ | 30,000,000 | 361470AC1 | April 27, 2011 | |||||||||
| First Union Capital I |
7.935% Capital Securities, Series A | $ | 250,000,000 | 337357AA5 | April 27, 2011 | |||||||||
| First Union Institutional Capital I |
8.04% Capital Securities | $ | 500,000,000 | 337363AE5 | April 27, 2011 | |||||||||
| First Union Institutional Capital II |
7.85% Capital Securities | $ | 250,000,000 | 337364AE3 | April 27, 2011 | |||||||||
| Wachovia Capital Trust I |
7.64% Capital Securities | $ | 300,000,000 | 929767AA9 | April 25, 2011 | |||||||||
| Wachovia Capital Trust V |
7.965% Capital Securities | $ | 300,000,000 | 92977EAA3 | April 25, 2011 | |||||||||
| Wells Fargo Capital IV |
7% Capital Securities | $ | 1,300,000,000 | 94976Y207 | April 25, 2011 | |||||||||
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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: March 29, 2011 | /s/ Paul R. Ackerman | |
| Paul R. Ackerman | ||
| Executive Vice President and Treasurer | ||
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