Summary
Wells Fargo & Company (WFC) filed an 8-K on February 23, 2017, to report the issuance of new debt securities. Specifically, the company issued two types of Medium-Term Notes: Series K, which are Principal at Risk Securities linked to the S&P 500® Index, and Series P, which are Notes linked to 3 Month LIBOR and mature on February 23, 2022. These issuances are related to a previously filed Registration Statement on Form S-3. This filing primarily serves to provide the associated documentation for these notes, including the forms of the notes themselves and a legal opinion from Faegre Baker Daniels LLP. Investors should note that these are debt instruments, with the Series K notes carrying principal risk tied to market performance, while Series P offers a fixed maturity date with interest linked to a benchmark rate. The information provided is transactional and pertains to the structure and legal clearance of these specific note offerings.
Key Highlights
- 1Wells Fargo issued new debt securities on February 22, 2017.
- 2Two series of Medium-Term Notes were issued: Series K and Series P.
- 3Series K notes are Principal at Risk Securities linked to the S&P 500® Index.
- 4Series P notes are linked to 3 Month LIBOR and mature on February 23, 2022.
- 5The filing includes the forms of these notes as exhibits.
- 6A legal opinion from Faegre Baker Daniels LLP regarding the notes is also filed.
- 7These issuances are connected to a previously filed Form S-3 Registration Statement.