Summary
This Form 8-K filing by Wells Fargo & Company on April 6, 2015, primarily serves to disclose the issuance of new Medium-Term Notes, Series K. Specifically, two types of notes are detailed: one linked to the iShares® MSCI EAFE ETF maturing in April 2022, and another classified as Principal at Risk Securities linked to the iShares® Russell 2000 ETF maturing in April 2019. For investors, this filing is important as it provides information on new debt instruments offered by Wells Fargo. The inclusion of legal and tax opinions from Faegre Baker Daniels LLP and Davis Polk & Wardwell LLP, respectively, alongside the forms of the notes themselves, offers transparency regarding the terms and legal standing of these issuances. Investors considering these notes should review the specific details of the ETFs they are linked to and understand the "Principal at Risk" nature of one of the issuances.
Key Highlights
- 1Wells Fargo & Company issued new Medium-Term Notes, Series K.
- 2Two specific note issuances are detailed: one linked to iShares® MSCI EAFE ETF and another linked to iShares® Russell 2000 ETF.
- 3The notes have maturities of April 6, 2022 (EAFE ETF) and April 5, 2019 (Russell 2000 ETF).
- 4One series of notes is explicitly identified as 'Principal at Risk Securities'.
- 5The filing includes the forms of these notes as exhibits.
- 6Legal opinions from Faegre Baker Daniels LLP and tax opinions from Davis Polk & Wardwell LLP regarding the notes are filed.
- 7These issuances are connected to a Registration Statement on Form S-3 (File No. 333-180728).