Summary
Wells Fargo & Company (WFC) filed a Form 8-K on March 23, 2016, to report the issuance of new Medium-Term Notes, Series K. These notes are structured products with principal repayment contingent on specific market performance. The filing specifically details two types of notes: "Principal at Risk Securities Linked to the S&P 500® Index" and "Notes Linked to the 10-Year Constant Maturity Swap Rate due March 23, 2026." This filing is primarily a procedural one, intended to make the terms and legal opinions related to these new debt issuances publicly available, as required by securities regulations. Investors interested in these specific note offerings should review the filed exhibits, which include the forms of the notes and the legal opinion from Faegre Baker Daniels LLP, for detailed terms, risks, and conditions.
Key Highlights
- 1Wells Fargo issued new Medium-Term Notes, Series K, on March 23, 2016.
- 2Two specific note types were issued: Principal at Risk Securities linked to the S&P 500® Index and Notes linked to the 10-Year Constant Maturity Swap Rate.
- 3The Notes have a maturity date of March 23, 2026.
- 4The filing provides the form of these notes as exhibits to the 8-K.
- 5A legal opinion from Faegre Baker Daniels LLP regarding the Notes is also included as an exhibit.
- 6The purpose of the filing is to disclose the terms and related legal documentation for these new debt instruments.