Company: WFC-PC
Filing Date: 2025-08-26
Form Type: S-3/A
Source: 0001193125-25-188722
Chunk: 68

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-08-26
Form: S-3/A
Chunk 68
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 to pay principal or interest on the subordinated debt securities or to perform any covenant or agreement contained in the subordinated debt securities or the subordinated indenture. (Sections 502, 513) The holders of subordinated debt securities have more limited acceleration rights than holders of senior debt securities. As discussed in the preceding paragraph, holders of our subordinated debt securities may accelerate the maturity of subordinated debt securities only upon certain events of bankruptcy or insolvency. The prospectus supplement relating to a series of debt securities which are original issue discount securities will describe the particular provisions that relate to the acceleration of maturity of a portion of the principal amount of the series when an event of default occurs and continues. Unless otherwise specified in the applicable prospectus supplement, a “ covenant breach,” when used in the senior indenture with respect to any series of senior debt securities, means any of the following:

| (1) | failure to perform any of the covenants regarding capital stock of Principal Subsidiary Banks described above 
 under “—Covenants Contained in Indentures”;                                                                   |

| (2) | failure to perform any other covenant in the senior indenture that applies to senior debt securities of that                                   
 series for 90 days after Wells Fargo has received written notice of the failure to perform in the manner specified in the senior indenture; or |

| (3) | any other covenant breach that may be specified for the senior debt securities of that series when that series 
 is created. (Section 101 of the senior indenture)                                                              |

47

A covenant breach shall not be an event of default, and neither the senior trustee nor any holder of senior debt securities will have any acceleration rights if a covenant breach occurs or continues. The subordinated indenture does not contain the provision described in the preceding paragraph. Each of the indentures requires us to file an officers’ certificate with the applicable trustee each year that states, to the knowledge of the certifying officer, whether or not any defaults exist under the terms of the applicable indenture. (Section 1007 of the senior indenture, Section 1004 of the subordinated indenture). The trustee may withhold notice to the holders of debt securities of any default, except defaults in the payment of principal, premium, interest or any sinking fund installment, if it considers the withholding of notice to be in the best interests of the holders. For purposes of this paragraph, “ default” means any event which is, or after notice or lapse of time or both would become