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Wells Fargo Capital V, 7.00% Quarterly Income Preferred Securities

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Wells Fargo Capital V, 7.00% Quarterly Income Preferred Securities (QUIPS), liquidation amount $25 per share, guaranteed by Wells Fargo & Co. (NYSE: WFC), redeemable at the issuer's option on or after 12/06/2006 at $25 per share plus accrued and unpaid dividends, maturing 12/01/2031 which may be extended to 12/01/2050, distributions of 7% per annum are paid quarterly on 3/1, 6/1, 9/1 & 12/1 to holders of record on the 15th day of the month prior to the payment date. The company has the right, at any time, to defer interest payments for up to 20 consecutive quarters (but not beyond the maturity date). The trust's assets consist of the 7% Junior Subordinated Deferrable Interest Debentures due 12/01/2031, which may be extended to 12/01/2050, which were purchased from the company using the funds generated from the sale of the trust preferred securities. The firm has no submitted 13F filings and does not appear to be an investment advisor.

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Wells Fargo Capital V, 7.00% Quarterly Income Preferred Securities

  

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