Summary
Wells Fargo & Company filed an 8-K on March 31, 2017, to report the issuance of new Medium-Term Notes, Series K. These notes are specifically designed as Principal at Risk Securities, meaning investors could lose principal if the underlying index performance is not favorable. The securities are linked to the performance of the S&P 500® Index and the Russell 2000® Index, with the return dependent on the *lowest* performing of the two. This filing primarily 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 regarding their issuance. Investors interested in these specific securities should carefully review the terms and risks associated with Principal at Risk Securities, as outlined in the filed exhibits, to understand the potential for both capital appreciation and capital loss tied to market index performance.
Key Highlights
- 1Wells Fargo & Company (WFC) issued new Medium-Term Notes, Series K, on March 31, 2017.
- 2These notes are classified as Principal at Risk Securities, indicating a potential loss of invested principal.
- 3The performance of the 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 March 31, 2025.
- 5The 8-K filing includes the form of the Medium-Term Note document.
- 6A legal opinion from Faegre Baker Daniels LLP regarding the notes is also filed as an exhibit.
- 7The filing is made in connection with a Registration Statement on Form S-3 previously filed by Wells Fargo.