12:23 PM EDT, 05/09/2024 (MT Newswires) -- Wells Fargo & Company ( WFC ) said Thursday it will redeem all 80,000 outstanding shares of its 5.90% fixed-to-floating rate non-cumulative perpetual class A preferred stock, series S, on June 17.

Redemption of S shares will trigger the redemption of 2 million related depositary shares, Wells Fargo ( WFC ) said.

The company has set the redemption price at $25,000 per redeemed series S preferred share and $1,000 per redeemed series S depositary share.

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