By Andrea Heisinger
Omaha, March 5 - Wells Fargo Capital XII priced $1.4 billion, or 56 million, 7.875% 60-year enhanced trust preferred securities Wednesday at par of $25, according to an FWP filing with the Securities and Exchange Commission.
The securities (Aa2/AA-/AA-) are callable at par from March 15, 2013.
The distribution is payable quarterly.
Bookrunners were Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Inc. and Morgan Stanley & Co. Inc.
Joint lead managers were Wells Fargo Securities LLC, UBS Securities LLC and Wachovia Capital Markets, LLC.
Co-managers were Banc of America Securities LLC, RBC Capital Markets Corp., Bear Stearns & Co. Inc., J.P. Morgan Securities Inc., Lehman Brothers Inc. and Raymond James & Associates Inc.
The deal has a $210 million greenshoe.
The funding branch of Wells Fargo & Co. is based in San Francisco.
| Issuer: | Wells Fargo Capital XII
|
| Guarantor: | Wells Fargo & Co.
|
| Issue: | Enhanced trust preferred securities
|
| Amount: | $1.4 billion
|
| Securities: | 56 million
|
| Greenshoe: | $210 million (8.4 million securities)
|
| Maturity: | March 15, 2068
|
| Bookrunners: | Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Inc., Morgan Stanley & Co. Inc.
|
| Joint lead managers: | Wells Fargo Securities LLC, UBS Securities LLC, Wachovia Capital Markets, LLC
|
| Co-managers: | Banc of America Securities LLC, RBC Capital Markets Corp., Bear Stearns & Co., J.P. Morgan Securities Inc., Lehman Brothers Inc. and Raymond James & Associates Inc.
|
| Distribution: | 7.875%, payable quarterly
|
| Price: | Par of $25
|
| Call: | From March 15, 2013 at par
|
| Trade date: | March 5
|
| Settlement date: | March 12
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA-
|
| Fitch: AA-
|
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