Summary
Wells Fargo & Company (WFC) filed an 8-K on December 22, 2016, primarily to disclose the issuance of new financial products and related documentation. Specifically, the company issued "Medium-Term Notes, Series K, Principal at Risk Securities Linked to the Lowest Performing of the S&P 500® Index and the Russell 2000® Index due June 22, 2018." This filing serves to make the official documentation for these notes publicly available, including the form of the note itself and a legal opinion from Faegre Baker Daniels LLP concerning the notes. For investors, this filing indicates Wells Fargo's ongoing activity in offering structured financial products. The "Principal at Risk" nature of these notes suggests that investors could lose a portion or all of their principal investment, depending on the performance of the linked S&P 500® Index and Russell 2000® Index. Investors considering such products should carefully review the terms and risks associated with the underlying indices and the note structure.
Key Highlights
- 1Wells Fargo & Company (WFC) announced the issuance of Medium-Term Notes, Series K on December 22, 2016.
- 2These notes are classified as 'Principal at Risk Securities'.
- 3The performance of these notes is linked to the lowest performing of the S&P 500® Index and the Russell 2000® Index.
- 4The maturity date for these notes is June 22, 2018.
- 5The filing includes the form of the Medium-Term Notes, Series K.
- 6A legal opinion from Faegre Baker Daniels LLP regarding these notes is also filed.
- 7This filing is made in connection with a Registration Statement on Form S-3 previously filed by Wells Fargo.