Wells Fargo 2014 Annual Report Download - page 238

Note 18: Preferred Stock (continued)
December 31, 2014 December 31, 2013
Shares Shares issued
(in millions, except shares) issued and
outstanding Par value Carrying
value Discount and
outstanding Par value Carrying
value Discount
DEP Shares
Dividend Equalization Preferred Shares (DEP) 96,546 — — — 96,546 — — —
Series I (1)
Floating Class A Preferred Stock 25,010 2,501 2,501 — 25,010 2,501 2,501 —
Series J (1)
8.00% Non-Cumulative Perpetual Class A Preferred Stock 2,150,375 2,150 1,995 155 2,150,375 2,150 1,995 155
Series K (1)
7.98% Fixed-to-Floating Non-Cumulative Perpetual Class A
Preferred Stock 3,352,000 3,352 2,876 476 3,352,000 3,352 2,876 476
Series L (1)
7.50% Non-Cumulative Perpetual Convertible Class A
Preferred Stock 3,968,000 3,968 3,200 768 3,968,000 3,968 3,200 768
Series N (1)
5.20% Non-Cumulative Perpetual Class A Preferred Stock 30,000 750 750 — 30,000 750 750 —
Series O (1)
5.125% Non-Cumulative Perpetual Class A Preferred Stock 26,000 650 650 — 26,000 650 650 —
Series P (1)
5.25% Non-Cumulative Perpetual Class A Preferred Stock 25,000 625 625 — 25,000 625 625 —
Series Q (1)
5.85% Fixed-to-Floating Non-Cumulative Perpetual Class A
Preferred Stock 69,000 1,725 1,725 — 69,000 1,725 1,725 —
Series R (1)
6.625% Fixed-to-Floating Non-Cumulative Perpetual Class A
Preferred Stock 33,600 840 840 — 33,600 840 840 —
Series S (1)
5.900% Fixed-to-Floating Non-Cumulative Perpetual Class A
Preferred Stock 80,000 2,000 2,000 — — — — —
Series T (1)
6.00% Non-Cumulative Perpetual Class A Preferred Stock 32,000 800 800 — — — — —
ESOP
Cumulative Convertible Preferred Stock 1,251,287 1,251 1,251 — 1,105,664 1,105 1,105 —
Total 11,138,818 $ 20,612 19,213 1,399 10,881,195 $ 17,666 16,267 1,399
(1) Preferred shares qualify as Tier 1 capital.
In April 2014, we issued 2 million Depositary Shares, each
representing a 1/25th interest in a share of the Non-Cumulative
Perpetual Class A Preferred Stock, Series S, for an aggregate
public offering price of $2.0 billion. In July 2014, we issued
32 million Depositary Shares, each representing a 1/1,000th
interest in a share of the Non-Cumulative Perpetual Class A
Preferred Stock, Series T, for an aggregate public offering price
of $800 million. See Note 8 (Securitizations and Variable
Interest Entities) for additional information on our trust
preferred securities. We do not have a commitment to issue
Series G or H preferred stock.
236