305B2 1 d305b2.htm FORM T-1 Form T-1

333-103711

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

 

 

FORM T-1

 

STATEMENT OF ELIGIBILITY

UNDER THE TRUST INDENTURE ACT OF 1939 OF

A CORPORATION DESIGNATED TO ACT AS TRUSTEE

CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF

A TRUSTEE PURSUANT TO SECTION 305(b)(2)             X            

 

 

J. P. MORGAN TRUST COMPANY, NATIONAL ASSOCIATION

(Exact name of trustee as specified in its charter)

 

    95-4655078

(State of incorporation

if not a national bank)

  

(I.R.S. employer

identification No.)

 

1999 Avenue of the Stars – Floor 26    
Los Angeles, CA   90067
(Address of principal executive offices)   (Zip Code)

 

William H. McDavid

General Counsel

270 Park Avenue

New York, New York 10017

Tel: (212) 270-2611

(Name, address and telephone number of agent for service)

 

 

WELLS FARGO & COMPANY

(Exact name of obligor as specified in its charter)

 

Delaware   41-0449260

(State or other jurisdiction

of incorporation or organization)

  

(I.R.S. employer

identification No.)

 

420 Montgomery Street

San Francisco, California

   94163

 

Guarantee for 5.625% Trust Originated Preferred Securities

 

Item 1. General Information.

 

       Furnish the following information as to the trustee:

 

  (a) Name and address of each examining or supervising authority to which it is subject.

 

       Comptroller of the Currency, Washington, D.C.
       Board of Governors of the Federal Reserve System, Washington, D.C.

 

  (b) Whether it is authorized to exercise corporate trust powers.

 

       Yes.

 

Item 2. Affiliations with Obligor.

 

If the Obligor is an affiliate of the trustee, describe each such affiliation.

 

None.

 

No responses are included for Items 3-15 of this Form T-1 because the Obligor is not in default as provided under Item 13.

 

Item 16. List of Exhibits.

 

List below all exhibits filed as part of this statement of eligibility.

 

Exhibit 1.    Articles of Association of the Trustee as Now in Effect (see Exhibit 1 to Form T-1 filed in connection with Form 8K of the Southern California Water Company filing, dated December 7, 2001, which is incorporated by reference).
Exhibit 2.    Certificate of Authority of the Trustee to Commence Business (see Exhibit 2 to Form T-1 filed in connection with Registration Statement No. 333-41329, which is incorporated by reference).
Exhibit 3.    Authorization of the Trustee to Exercise Corporate Trust Powers (contained in Exhibit 2).
Exhibit 4.    Existing By-Laws of the Trustee (see Exhibit 4 to Form T-1 filed in connection with Form 8K of the Southern California Water Company filing, dated December 7, 2001, which is incorporated by reference).
Exhibit 5.    Not Applicable

 

2

Exhibit 6.    The consent of the Trustee required by Section 321 (b) of the Act (see Exhibit 6 to Form T-1 filed in connection with Registration Statement No. 333-41329, which is incorporated by reference).
Exhibit 7.    A copy of the latest report of condition of the Trustee, published pursuant to law or the requirements of its supervising or examining authority.
Exhibit 8.    Not Applicable
Exhibit 9.    Not Applicable

 

 

3

SIGNATURE

 

Pursuant to the requirements of the Trust Indenture Act of 1939, the Trustee, J. P. Morgan Trust Company, National Association, has duly caused this statement of eligibility and qualification to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of San Francisco, and State of California, on the 1st day of April, 2004

 

J. P. Morgan Trust Company, National Association

    By  

/s/    Sharon McGrath

       
       

Sharon McGrath

Authorized Officer

 

4

Exhibit 7 to Form T-1

 

Bank Call Notice

 

RESERVE DISTRICT NO. 2

CONSOLIDATED REPORT OF CONDITION OF

 

JPMorgan Chase Bank

of 270 Park Avenue, New York, New York 10017

and Foreign and Domestic Subsidiaries,

a member of the Federal Reserve System,

 

at the close of business September 30, 2003, in

accordance with a call made by the Federal Reserve Bank of this

District pursuant to the provisions of the Federal Reserve Act.

 

ASSETS             

Dollar Amounts

in Millions

Cash and balances due from depository institutions:

                   

Noninterest-bearing balances and currency and coin

                $ 17,578

Interest-bearing balances

                  9,823

Securities:

                   

Held to maturity securities

                  210

Available for sale securities

                  57,792

Federal funds sold and securities purchased under agreements to resell

                   

Federal funds sold in domestic offices

                  9,491

Securities purchased under agreements to resell

                  91,241

Loans and lease financing receivables:

                   

Loans and leases held for sale

                  35,681

Loans and leases, net of unearned income

    $ 170,168            

Less: Allowance for loan and lease losses

      3,448            

Loans and leases, net of unearned income and allowance

                  166,720

Trading Assets

                  178,938

Premises and fixed assets (including capitalized leases)

                  6,057

Other real estate owned

                  110

Investments in unconsolidated subsidiaries and associated companies

                  732

Customers’ liability to this bank on acceptances outstanding

                  260

Intangible assets

                   

Goodwill

                  2,198

Other Intangible assets

                  4,096

Other assets

                  57,193

TOTAL ASSETS

                $ 638,120
                

LIABILITIES               

Deposits

                   

In domestic offices

                $ 188,866

Noninterest-bearing

    $ 76,927            

Interest-bearing

      111,939            

In foreign offices, Edge and Agreement subsidiaries and IBF’s

                  124,493

Noninterest-bearing

    $ 6,439            

Interest-bearing

      118,054            

Federal funds purchased and securities sold under agreements to repurchase:

                   

Federal funds purchased in domestic offices

                  4,679

Securities sold under agreements to repurchase

                  82,206

Trading liabilities

                  136,012

Other borrowed money (includes mortgage indebtedness and obligations under capitalized leases)

                  24,937

Bank’s liability on acceptances executed and outstanding

                  260

Subordinated notes and debentures

                  8,040

Other liabilities

                  31,270

TOTAL LIABILITIES

                  600,763

Minority Interest in consolidated subsidiaries

                  358
EQUITY CAPITAL                   

Perpetual preferred stock and related surplus

                  0

Common stock

                  1,785

Surplus (exclude all surplus related to preferred stock)

                  16,306

Retained earnings

                  18,875

Accumulated other comprehensive income

                  33

Other equity capital components

                  0

TOTAL EQUITY CAPITAL

                  36,999
                

TOTAL LIABILITIES, MINORITY INTEREST, AND EQUITY CAPITAL

                $ 638,120
                

 

I, Joseph L. Sclafani, E.V.P. & Controller of the above-named bank, do hereby declare that this Report of Condition has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true to the best of my

knowledge and belief.

 

JOSEPH L. SCLAFANI

 

We, the undersigned directors, attest to the correctness of this Report of Condition and declare that it has been examined by us, and to the best of our knowledge and belief has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true and correct.

 

WILLIAM B. HARRISON, JR. )

LAWRENCE A. BOSSIDY )     DIRECTORS

ELLEN V. FUTTER )