Summary
Wells Fargo & Company (WFC) filed an 8-K on April 30, 2015, to report the issuance of two series of Medium-Term Notes, Series K. These notes are linked to specific financial instruments: the Russell 2000® Index and the 10-Year Constant Maturity Swap Rate, with maturities in March 2017 and April 2025, respectively. The filing is primarily to provide investors with the official documentation of these new debt offerings, including the forms of the notes and the legal opinion from Faegre Baker Daniels LLP. This action signifies Wells Fargo's continued activity in the debt markets to fund its operations and manage its balance sheet. Investors should note that these are debt instruments, and their returns or principal repayment may be subject to the performance of the linked indexes or rates, particularly the "Principal at Risk" nature of the Russell 2000® Index linked notes.
Key Highlights
- 1Wells Fargo issued two new series of Medium-Term Notes, Series K, on April 29, 2015.
- 2One note series is linked to the performance of the Russell 2000® Index and matures in March 2017.
- 3The other note series is linked to the 10-Year Constant Maturity Swap Rate and matures in April 2025.
- 4These notes are designated as 'Principal at Risk Securities' for the Russell 2000® Index linked notes, indicating potential loss of principal.
- 5The filing includes the official forms of these notes as exhibits.
- 6A legal opinion from Faegre Baker Daniels LLP regarding the notes is also filed as part of this report.
- 7The filing is made in connection with a Registration Statement on Form S-3 previously filed by Wells Fargo.