Wells Fargo 2012 Annual Report Download - page 187

Note 13: Long-Term Debt
We issue long-term debt denominated in multiple currencies,
predominantly in U.S. dollars. Our issuances have both fixed and
floating interest rates. As a part of our overall interest rate risk
management strategy, we often use derivatives to manage our
exposure to interest rate risk. We also use derivatives to manage
our exposure to foreign currency risk. As a result, the long-term
debt presented below is primarily hedged in a fair value or cash
flow hedge relationship. See Note 16 for further information on
qualifying hedge contracts.
Following is a summary of our long-term debt carrying
values, reflecting unamortized debt discounts and premiums,
and purchase accounting adjustments for debt assumed in the
Wachovia acquisition, where applicable. The interest rates
displayed represent the range of contractual rates in effect at
December 31, 2012. These interest rates do not include the
effects of any associated derivatives designated in a hedge
accounting relationship.
December 31,
2012 2011
Maturity Stated
(in millions) date(s) interest rate(s)
Wells Fargo & Company (Parent only)
Senior
Fixed-rate notes 2013-2035 1.25-6.75% $ 44,623 38,002 (1)
Floating-rate notes 2013-2048 0.059-3.480 10,996 17,872 (1)
Structured notes (2) 2013-2052 3,633 1,359
Total senior debt - Parent 59,252 57,233
Subordinated
Fixed-rate notes 2013-2035 4.375-7.574% 11,340 12,041
Floating-rate notes 2015-2016 0.653-0.710 1,165 1,141
Total subordinated debt - Parent 12,505 13,182
Junior subordinated
Fixed-rate notes - hybrid trust securities 2029-2068 5.625-7.950% 4,221 6,951
Floating-rate notes 2027 0.840-1.340 255 247
Total junior subordinated debt - Parent (3) 4,476 7,198
Total long-term debt - Parent 76,233 77,613
Wells Fargo Bank, N.A. and other bank entities (Bank)
Senior
Fixed-rate notes 2013 6.00% 1,331 1,326
Floating-rate notes 2017-2040 0.06-0.53 170 72
Floating-rate extendible notes (4) 2014 0.359-0.380 4,450 -
Fixed-rate advances - Federal Home Loan Bank (FHLB) 2013-2031 3.83 - 8.17 216 500
Floating-rate advances - FHLB 2013 0.403-0.411 2,002 2,101
Structured notes (2) 2013-2025 163 238
Capital leases (Note 7) 2013-2023 12 116
Total senior debt - Bank 8,344 4,353
Subordinated
Fixed-rate notes 2013-2038 4.75-7.74% 14,153 15,882
Floating-rate notes 2014-2017 0.520-3.652 1,617 1,976
Total subordinated debt - Bank 15,770 17,858
Junior subordinated
Floating-rate notes 2027 0.88-0.99% 294 286
Total junior subordinated debt - Bank (3) 294 286
Long-term debt issued by VIE - Fixed rate 2013-2052 0.00-7.00% 1,542 2,103
Long-term debt issued by VIE - Floating rate 2020-2052 0.339-31.835 1,826 2,748
Mortgage notes and other debt 2013-2062 0.00-12.50 16,976 14,854
Total long-term debt - Bank 44,752 42,202
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