Summary
This Wells Fargo & Company 8-K filing from April 5, 2017, primarily serves to disclose the issuance of several series of Medium-Term Notes (Series K) that are linked to various financial indices and sectors. These notes are structured as "Principal at Risk Securities," indicating that investors could lose a portion or all of their principal depending on the performance of the underlying index. The specific notes issued include those linked to the Financial Select Sector SPDR® Fund, the EURO STOXX 50® Index (with different maturity dates), and a note linked to the lowest performing of the S&P 500® Index and the Russell 2000® Index. The filing includes the forms of these notes and a legal opinion from Faegre Baker Daniels LLP regarding their issuance. For investors, this filing highlights Wells Fargo's activity in structured products and its ability to offer complex investment instruments to the market.
Key Highlights
- 1Wells Fargo & Company issued four series of Medium-Term Notes, Series K.
- 2These notes are classified as 'Principal at Risk Securities,' meaning principal is not guaranteed.
- 3The notes are linked to specific financial indices or ETFs, including the Financial Select Sector SPDR® Fund, EURO STOXX 50® Index, S&P 500® Index, and Russell 2000® Index.
- 4Maturity dates for the issued notes range from April 2019 to April 2027.
- 5The filing includes the official forms of each Note series as exhibits.
- 6A legal opinion from Faegre Baker Daniels LLP regarding the Notes is also filed.
- 7This filing relates to a Registration Statement on Form S-3 previously filed by Wells Fargo.