Wells Fargo Capital XIII launches $2.5 bln hybrids

NEW YORK, May 12 (Reuters) - Wells Fargo Capital XIII launched a sale of $2.5 billion of hybrid perpetual securities, with pricing expected later on Monday, according to International Financing Review.

The securities are expected to have a coupon of 7.70 percent, said IFR, a publication of Thomson Reuters.

The joint lead managers on the sale are JP Morgan, Morgan Stanley, Merrill Lynch and UBS. (Reporting by Caryn Trokie, Editing by Chizu Nomiyama)