Summary
This 8-K filing from Wells Fargo & Company, filed on August 7, 2015, primarily serves to disclose the issuance of two new series of Medium-Term Notes, Series K. These notes, specifically "Principal at Risk Securities," are linked to the EURO STOXX 50® Index and an International ETF Basket, with maturities in 2019 and 2020, respectively. The filing includes the forms of these notes and a legal opinion from Faegre Baker Daniels LLP regarding their issuance.
Key Highlights
- 1Wells Fargo issued new "Principal at Risk Securities" (Medium-Term Notes, Series K) on August 7, 2015.
- 2The notes are linked to the EURO STOXX 50® Index with a maturity date of August 7, 2019.
- 3Another tranche of notes is linked to an International ETF Basket with a maturity date of August 7, 2020.
- 4The filing includes the official forms of these two note issuances as exhibits.
- 5A legal opinion from Faegre Baker Daniels LLP concerning the notes is also filed as part of this report.
- 6The filing is related to a Registration Statement on Form S-3 previously filed by Wells Fargo.
Frequently Asked Questions
The primary purpose of this 8-K filing is to officially disclose the terms and provide the documentation for the issuance of two new series of Medium-Term Notes, Series K, which are structured as 'Principal at Risk Securities'.
These are debt instruments whose principal repayment is contingent upon the performance of an underlying asset, in this case, the EURO STOXX 50® Index or an International ETF Basket. This means investors could lose a portion or all of their principal if the linked asset performs poorly.
There are two series of notes: one matures on August 7, 2019, and is linked to the EURO STOXX 50® Index. The other matures on August 7, 2020, and is linked to an International ETF Basket.
This filing includes the forms of the two specific Medium-Term Notes, Series K, and a legal opinion from Faegre Baker Daniels LLP regarding these notes, along with their consent.