Summary
Wells Fargo & Company/MN (WFC) filed an 8-K on October 9, 2015, to report the issuance of several Medium-Term Notes, Series K. These notes include Principal at Risk Securities linked to the MSCI EAFE Index and Notes linked to the 10-Year Constant Maturity Swap Rate with maturities in 2025 and 2027. This filing primarily serves to provide the official documentation for these debt offerings, including the forms of the notes themselves and a legal opinion from Faegre Baker Daniels LLP regarding their issuance. Investors interested in WFC's debt instruments and capital raising activities would find this filing relevant for understanding the specific terms and legal standing of these particular note series.
Key Highlights
- 1Wells Fargo issued new Medium-Term Notes, Series K, on October 9, 2015.
- 2The issuance includes Principal at Risk Securities linked to the MSCI EAFE Index.
- 3Two series of Notes linked to the 10-Year Constant Maturity Swap Rate were issued, maturing on October 9, 2025, and October 9, 2027.
- 4This 8-K filing is primarily to register the forms of these Notes and related legal opinions.
- 5The legal opinion was provided by Faegre Baker Daniels LLP.
- 6These filings are connected to a Registration Statement on Form S-3 previously filed by Wells Fargo.
Frequently Asked Questions
Wells Fargo is issuing two main types of Medium-Term Notes, Series K: Principal at Risk Securities linked to the MSCI EAFE Index, and Notes linked to the 10-Year Constant Maturity Swap Rate with two different maturity dates (2025 and 2027).
The primary purpose of this 8-K filing is to officially submit the forms of the newly issued Medium-Term Notes, Series K, and the legal opinion from Faegre Baker Daniels LLP concerning these notes to the SEC.
Yes, the exhibits filed with this 8-K are in connection with a Registration Statement on Form S-3 (File No. 333-202840) that Wells Fargo & Company had previously filed with the SEC.
For 'Principal at Risk Securities,' investors' principal repayment is subject to a performance threshold or other conditions tied to the underlying index (in this case, the MSCI EAFE Index). If the index performance is unfavorable, investors may lose a portion or all of their principal investment.