Wells Fargo 2010 Annual Report Download - page 166

Note 13: Long-Term Debt (continued)
(continued from previous page)
December 31,
2010 2009
(1)
Maturity
Stated
(in millions) date(s) interest rate(s)
Other consolidated subsidiaries
Senior
Fixed-rate notes 2011-2015 3.97-6.125% 6,147 6,682
Floating-rate notes - FHLB - 1,625
FixFloat notes 2020 6.795% through 2015, varies 20 -
Total senior debt - Other consolidated subsidiaries 6,167 8,307
Junior subordinated
Fixed-rate notes 2011 5.50%
10
63
Floating-rate notes 2027-2036 Varies
239
241
FixFloat notes 2036 7.064% through 2011, varies
78
79
Total junior subordinated debt - Other
consolidated subsidiaries (5) 327 383
Long-term debt issued by VIE - Fixed rate 2012-2020 5.16-5.98% 84 978
Long-term debt issued by VIE - Floating rate 2015-2021 Varies 489 10
Mortgage notes and other debt of subsidiaries 2013-2018 Varies 127 359
Total long-term debt - Other consolidated subsidiaries 7,194 10,037
Total long-term debt $ 156,983 203,861
(1) Balances have been revised to conform with current period presentation.
(2) On December 10, 2008, Wells Fargo issued $3 billion of 3% fixed senior unsecured notes and $3 billion of floating senior unsecured notes both maturing on
December 9, 2011. On March 30, 2009, Wells Fargo issued $1.75 billion of 2.125% fixed senior unsecured notes and $1.75 billion of floating senior unsecured notes both
maturing on June 15, 2012. These notes are guaranteed under the Federal Deposit Insurance Corporation’s (FDIC) Temporary Liquidity Guarantee Program (TGLP) and are
backed by the full faith and credit of the United States.
(3) Consists of long-term notes where the performance of the note is linked to an embedded equity, commodity, or currency index, or basket of indices accounted for separately
from the note as a free-standing derivative. For information on embedded derivatives, see Note 15 – Free-standing derivatives.
(4) We expect to issue preferred stock to the unconsolidated wholly-owned trusts that hold the income trust securities. The preferred stock issuance is contingent on the ability
to raise sufficient proceeds through the sale of the income trust securities to third party investors. See Note 8 for our additional information on our trust preferred security
structures and Note 17 for the preferred stock we expect to issue.
(5) Represents junior subordinated debentures held by unconsolidated wholly owned trusts formed for the sole purpose of issuing trust preferred securities. See Note 8 for
additional information on our trust preferred security structures.
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