Summary
This 8-K filing by Wells Fargo & Company (WFC) on April 10, 2014, primarily serves to report the issuance of Medium-Term Notes, Series K, Principal at Risk Securities Linked to the iShares® MSCI Emerging Markets ETF. The filing includes the form of these specific notes, along with legal opinions from Faegre Baker Daniels LLP and Davis Polk & Wardwell LLP, the latter acting as special tax counsel. This suggests a new debt issuance by Wells Fargo, structured as notes whose principal repayment is contingent on the performance of an emerging markets equity ETF. Investors should note this is a specific product offering and not a general financial update for the company.
Key Highlights
- 1Wells Fargo & Company issued new Medium-Term Notes, Series K, on or about April 9, 2014.
- 2These notes are Principal at Risk Securities, meaning the principal repayment is linked to the performance of an underlying asset.
- 3The underlying asset for these specific notes is the iShares® MSCI Emerging Markets ETF.
- 4The filing includes the official form of these Notes.
- 5Legal opinions from Faegre Baker Daniels LLP and Davis Polk & Wardwell LLP regarding the Notes are attached as exhibits.
- 6Davis Polk & Wardwell LLP provided a special tax counsel opinion on the Notes.
- 7This filing is an amendment to a previously filed Registration Statement on Form S-3.