Wells Fargo 2014 Annual Report Download - page 199

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, a major
portion of the long-term debt presented below is hedged in a fair
value or cash flow hedge relationship. See Note 16 (Derivatives)
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, where applicable. The
interest rates displayed represent the range of contractual rates
in effect at December 31, 2014. These interest rates do not
include the effects of any associated derivatives designated in a
hedge accounting relationship.
December 31,
2014 2013
(in millions)
Wells Fargo & Company (Parent only)
Senior
Fixed-rate notes
Floating-rate notes
Structured notes (1)
Total senior debt - Parent
Subordinated
Fixed-rate notes (2)
Floating-rate notes
Total subordinated debt - Parent
Junior subordinated
Fixed-rate notes - hybrid trust securities
Floating-rate notes
Total junior subordinated debt - Parent (3)
Total long-term debt - Parent (2)
Wells Fargo Bank, N.A. and other bank entities (Bank)
Senior
Fixed-rate notes
Floating-rate notes
Floating-rate extendible notes (4)
Fixed-rate advances - Federal Home Loan Bank (FHLB) (5)
Floating-rate advances - FHLB (5)
Structured notes (1)
Capital leases (Note 7)
Total senior debt - Bank
Subordinated
Fixed-rate notes
Floating-rate notes
Total subordinated debt - Bank
Junior subordinated
Floating-rate notes
Total junior subordinated debt - Bank (3)
Long-term debt issued by VIE - Fixed rate (6)
Long-term debt issued by VIE - Floating rate (6)
Mortgage notes and other debt (7)
Total long-term debt - Bank
Maturity date(s)
2015-2038
2015-2048
2015-2053
2016-2044
2015-2016
2029-2036
2027
2015
2015-2053
2016
2015-2031
2018-2019
2015-2025
2015-2025
2015-2038
2016-2017
2027
2020-2047
2016-2047
2015-2062
Stated interest rate(s)
0.625-6.75%
0.00-3.735
Varies
3.45-7.574%
0.573-0.601
5.95-7.95%
0.731-1.231
0.75%
0.00-0.511
0.281-0.387
3.83-8.17
0.22-0.35
Varies
Varies
4.75-7.74%
0.442-3.107
0.802-0.881%
0.00-7.00%
0.296-18.970
0.00-9.20
$ 54,441
15,317
4,825
74,583
19,688
1,215
20,903
1,378
272
1,650
97,136
500
4,969
11,048
125
34,000
4
9
50,655
10,310
994
11,304
313
313
609
996
16,239
80,116
44,145
12,445
4,891
61,481
17,469
1,190
18,659
1,178
263
1,441
81,581
500
2,219
10,749
160
19,000
13
11
32,652
10,725
1,616
12,341
303
303
1,098
1,230
16,874
64,498
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