Wells Fargo 2013 Annual Report Download - page 201

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Note 13: Long-Term Debt
We issue long-term debt denominated in multiple currencies,
predominantly in U.S. dollars. Our issuances have both fixed and
floating interest rates. As a part of our overall interest rate risk
management strategy, we often use derivatives to manage our
exposure to interest rate risk. We also use derivatives to manage
our exposure to foreign currency risk. As a result, the long-term
debt presented below is primarily hedged in a fair value or cash
flow hedge relationship. See Note 16 for further information on
qualifying hedge contracts.
Following is a summary of our long-term debt carrying
values, reflecting unamortized debt discounts and premiums,
and purchase accounting adjustments, where applicable. The
interest rates displayed represent the range of contractual rates
in effect at December 31, 2013. These interest rates do not
include the effects of any associated derivatives designated in a
hedge accounting relationship.
December 31,
2013 2012
(in millions)
Maturity
date(s)
Stated
interest rate(s)
Wells Fargo & Company (Parent only)
Senior
Fixed-rate notes 2014-2038 1.00-6.75% $ 44,145 44,623
Floating-rate notes 2014-2048 0.00-3.598 12,445 10,996
Structured notes (1) 2014-2053 Varies 4,891 3,633
Total senior debt - Parent 61,481 59,252
Subordinated
Fixed-rate notes (2) 2014-2044 3.45-7.574% 17,469 11,340
Floating-rate notes 2015-2016 0.576-0.614 1,190 1,165
Total subordinated debt - Parent 18,659 12,505
Junior subordinated
Fixed-rate notes - hybrid trust securities 2029-2068 5.95-7.95% 1,178 4,221
Floating-rate notes 2027 0.744-1.244 263 255
Total junior subordinated debt - Parent (3) 1,441 4,476
Total long-term debt - Parent (2) 81,581 76,233
Wells Fargo Bank, N.A. and other bank entities (Bank)
Senior
Fixed-rate notes 2015 0.75% 500 1,331
Floating-rate notes 2015-2053 0.00-0.522 2,219 170
Floating-rate extendible notes (4) 2015 0.291-0.346 10,749 4,450
Fixed-rate advances - Federal Home Loan Bank (FHLB) (5) 2014-2031 3.83 - 8.17 160 216
Floating-rate advances - FHLB (5) 2018-2019 0.22-0.29 19,000 2,002
Structured notes (1) 2014-2025 Varies 13 163
Capital leases (Note 7) 2014-2025 Varies 11 12
Total senior debt - Bank 32,652 8,344
Subordinated
Fixed-rate notes 2014-2038 4.75-7.74% 10,725 14,153
Floating-rate notes 2014-2017 0.448-2.965 1,616 1,617
Total subordinated debt - Bank 12,341 15,770
Junior subordinated
Floating-rate notes 2027 0.811-0.894% 303 294
Total junior subordinated debt - Bank (3) 303 294
Long-term debt issued by VIE - Fixed rate (6) 2014-2047 0.00-7.00% 1,098 1,542
Long-term debt issued by VIE - Floating rate (6) 2015-2042 0.296-32.11 1,230 1,826
Mortgage notes and other debt (7) 2014-2062 0.00-12.80 16,874 16,976
Total long-term debt - Bank 64,498 44,752
(continued on following page)
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