8-KExhibits & Filings

WELLS FARGO & COMPANY/MN 8-K Report, Exhibit Filing (Feb 7, 2012)

Filed February 7, 2012For Securities:WFCWFC-PDWFC-PCWFC-PYWFC-PAWFC-PLWFCNPWFC-PZ

Summary

Wells Fargo & Company (WFC) filed an 8-K on February 7, 2012, primarily to disclose the issuance of several Medium-Term Notes, Series K. These notes have varying maturity dates and are linked to different market indices or baskets, including a Domestic ETF Basket, iShares MSCI Emerging Markets Index Fund, a Global ETF Basket, and the Dow Jones Industrial AverageSM. The filing includes the forms of these notes as exhibits, along with legal opinions from Faegre Baker Daniels LLP and Sullivan & Cromwell LLP concerning the notes and tax implications, respectively. This report is supplementary to a previously filed Registration Statement on Form S-3. For investors, this filing signals Wells Fargo's ongoing activity in the debt markets and its strategy to offer structured financial products tied to market performance. The specific nature of these notes, linked to diverse indices, suggests an effort to cater to different investor appetites for exposure to domestic equities, emerging markets, global markets, and a prominent US stock index. Investors should review the specific terms of each note series to understand their risk-return profiles, maturity dates, and the precise mechanisms by which their returns are determined.

Key Highlights

  • 1Wells Fargo issued multiple series of Medium-Term Notes, Series K, on or around February 7, 2012.
  • 2The notes are structured products with maturities ranging from August 2014 to August 2018.
  • 3Each note series is linked to a specific underlying asset or index, including a Domestic ETF Basket, iShares MSCI Emerging Markets Index Fund, a Global ETF Basket, and the Dow Jones Industrial AverageSM.
  • 4The filing includes the forms of these notes as exhibits (4.1-4.4).
  • 5Legal opinions from Faegre Baker Daniels LLP (5.1) and Sullivan & Cromwell LLP (8.1) regarding the notes and tax implications are provided.
  • 6Consents from these legal firms are also included as exhibits (23.1-23.2).
  • 7This report is related to a prior Registration Statement on Form S-3 (File No. 333-159738).

Frequently Asked Questions

The primary purpose of this 8-K filing is to report the issuance of several series of Wells Fargo's Medium-Term Notes, Series K, and to file the related documentation, including the forms of the notes and legal opinions, as exhibits.

Wells Fargo issued Medium-Term Notes linked to various market benchmarks. These include notes tied to a Domestic ETF Basket, the iShares MSCI Emerging Markets Index Fund, a Global ETF Basket, and the Dow Jones Industrial AverageSM. These are structured notes with returns dependent on the performance of their respective underlying indices.

This specific 8-K filing focuses on the forms of the notes and the legal opinions. It does not provide specific details on the interest rates, principal amounts, or terms of sale for each note series. Investors would need to refer to the Registration Statement on Form S-3 or other offering documents for such transactional details.

The legal opinions from Faegre Baker Daniels LLP and Sullivan & Cromwell LLP are important for confirming the legality and structure of the issued notes. Faegre Baker Daniels LLP likely provided opinions on the notes themselves, while Sullivan & Cromwell LLP, as special tax counsel, would have provided opinions on the tax treatment of these financial instruments for investors.