Wells Fargo Sells New Non Cumulative Preferred Stock Issue

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Wells Fargo has sold a new non cumulative preferred stock issue.

The issue is investments grade and carries a coupon of 6%—not a huge coupon, but a super solid banking company. The issue is perpetual so will show some price movement when/if interest rates begin to rise.  A long term, conservative investor could sleep well at night with this issue if they are income investors with less concern on capital movement.

Details of the issue are here.

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