Wells Fargo Capital plans issue of 60-year trust preferreds at $25

By Andrea Heisinger

New York, Aug. 11 - Wells Fargo Capital XIV announced Monday it will price 60-year enhanced trust preferred securities at $25, according to a 424B2 filing with the Securities and Exchange Commission.

The issue is expected to price Tuesday, a source said.

The securities will be non-callable until September 2013.

Bookrunners are Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Inc. and Morgan Stanley & Co. Inc.

Joint lead managers are UBS Investment Bank and Wells Fargo Securities.

Co-managers are J.P. Morgan Securities Inc., Lehman Brothers Inc., Raymond James and RBC Capital Markets.

The financing arm of Wells Fargo & Co. is based in San Francisco.

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