Floating & Variable Rate Index

Designed to track the performance of certain hybrid and preferred securities, issued by U.S. or foreign issuers that pay a floating or variable rate dividend or coupon and satisfy the capitalization and other selection criteria. The Index is composed of preferred stock and hybrid securities that, in Wells Fargo’s judgment, are functionally equivalent. Eligible securities include, but are not limited to, certain convertible securities, depositary preferred securities and perpetual subordinated debt.