This is my second post for today. I viewed this one to be sufficiently important that I would devote an entire post to it.
I found a copy of Judge Wilson's decision in Turkle Trust v. Wells Fargo: Turkle Trust v. Wells Fargo & Company Document 38 The TP at issue was originally issued by Wachovia Capital Trust X on 11/21/2007. The coupon was 7.85%. According to the Court, the securities could have been called without a make whole on or after 12/15/2012. The judge's decision held that WFC could make a reasonable determination upon the passage of the Dodd Frank law, and there was no time limit:
I view this decision as a positive in my argument against JPM: District Court Decision in Turkle Trust v. Wells Fargo (N.D. Cal)/Summary of Argument: JPM Potential Obligation to Pay Make Whole for its Recent 2035 TP Redemption/Other JPM Capital Trust Preferred Securities: Language on Make Whole Payment and Capital Treatment Event
I did not have any trouble locating the prospectus: Wachovia Capital Trust X Prospectus Supplement
There is no limit on redemption after a capital treatment event: