Summary
Wells Fargo & Company filed an 8-K on September 21, 2016, to report the issuance of three series of Medium-Term Notes, Series K. These notes are structured as "Principal at Risk Securities," meaning investors could lose a portion or all of their principal investment depending on the performance of underlying indices or ETFs. The specific securities are linked to the Russell 2000® Index, a combination of the S&P 500® Index and the Russell 2000® Index, or the lowest performing of the Russell 2000® Index and the iShares® MSCI EAFE ETF. This filing primarily serves to provide the necessary documentation and legal opinions related to these new debt offerings, rather than announcing significant operational or financial performance changes.
Key Highlights
- 1Wells Fargo issued three new series of Medium-Term Notes, Series K, on September 20, 2016.
- 2These notes are classified as "Principal at Risk Securities," indicating potential loss of principal.
- 3The performance of the notes is linked to specific equity indices (Russell 2000®, S&P 500®) and an ETF (iShares® MSCI EAFE).
- 4Maturity dates for the notes vary, with some maturing in September 2021 and one in March 2018.
- 5The purpose of the 8-K filing is to attach the forms of the Notes and the legal opinion from Faegre Baker Daniels LLP.
- 6These issuances are related to a previously filed Registration Statement on Form S-3.