What exactly are the 'Notes Linked to the S&P MidCap 400® Index'?

These are structured financial products whose principal and/or return are linked to the performance of the S&P MidCap 400® index. Their exact payout structure would be detailed in the 'Form of Note' exhibit, but generally, they offer investors a way to gain exposure to the mid-cap U.S. equity market, with the payout depending on how the index performs by the maturity date.

Why is Wells Fargo filing this 8-K?

Wells Fargo is filing this 8-K to publicly disclose and provide access to the essential legal and financial documents related to the issuance of these S&P MidCap 400® Index-linked notes. This includes the official terms of the note and legal counsel opinions, as required by securities regulations when such financial instruments are issued.

What are the risks associated with these notes?

The primary risk is market risk, as the value and potential return of the notes are directly dependent on the performance of the S&P MidCap 400® index. If the index declines, investors may lose principal. Other risks could include the creditworthiness of Wells Fargo as the issuer, liquidity risk (difficulty selling the notes before maturity), and the specific terms outlined in the note's documentation, which might include caps on returns or other complex features.

Where can I find more details about the terms of these notes?

More details can be found in the exhibits filed with this Form 8-K. Specifically, investors should review Exhibit 4.1, 'Form of Note Linked to the S&P MidCap 400® Index due July 8, 2011,' as well as the legal opinions provided by Mary E. Schaffner, Esq. and Sullivan & Cromwell LLP.

WELLS FARGO & COMPANY/MN 8-K SEC Disclosure

Summary

This 8-K filing by Wells Fargo & Company/MN (WFC) on July 8, 2009, primarily serves to disclose the issuance of new financial instruments: "Notes Linked to the S&P MidCap 400® Index due July 8, 2011". These notes are not typical debt instruments but rather structured products whose performance is tied to the S&P MidCap 400® index. The filing's main purpose is to make the associated legal and financial documentation publicly available, including the form of the note itself and opinions from legal counsel regarding the issuance. For investors, this filing indicates Wells Fargo's continued activity in offering diverse financial products, even during the challenging economic period of 2009. The focus on a specific index suggests an interest in providing investors with exposure to mid-cap U.S. equities through a structured note format. Investors considering these notes should pay close attention to the terms and conditions detailed in the filed documents, particularly the index correlation, maturity date, and any associated risks, as the value of the notes will be directly influenced by the performance of the S&P MidCap 400® index.

Key Highlights

1Wells Fargo & Company issued "Notes Linked to the S&P MidCap 400® Index due July 8, 2011".
2The filing is a Current Report on Form 8-K, dated July 8, 2009.
3The primary purpose is to file supporting documentation for the note issuance.
4Key documents filed include the form of the note and legal opinions.
5Opinions were provided by Mary E. Schaffner, Esq. and Sullivan & Cromwell LLP (special tax counsel).
6The notes' performance is directly tied to the S&P MidCap 400® index.
7The maturity date for these notes is July 8, 2011.

WELLS FARGO & COMPANY/MN 8-K Report, Exhibit Filing (Jul 8, 2009)

Summary

Key Highlights

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