8-KExhibits & Filings

WELLS FARGO & COMPANY/MN 8-K Report, Exhibit Filing (Jun 7, 2017)

Filed June 7, 2017For Securities:WFCWFC-PDWFC-PCWFC-PYWFC-PAWFC-PLWFCNPWFC-PZ

Summary

Wells Fargo & Company filed an 8-K on June 7, 2017, to disclose the issuance of new financial instruments: Medium-Term Notes, Series K, Principal at Risk Securities Linked to the S&P 500® Index due June 7, 2022. These notes are structured products whose principal repayment is contingent on the performance of the S&P 500® Index. This filing is primarily a procedural one, providing the necessary documentation and legal opinions related to this specific debt issuance. For investors, this filing signifies the company's ongoing efforts to diversify its funding sources and offer a range of investment products. The 'Principal at Risk' nature of these notes is a key characteristic, meaning investors could lose a portion or all of their principal if the S&P 500® Index underperforms. This filing does not contain new financial performance data but rather details the terms and legal framework for these particular notes.

Key Highlights

  • 1Wells Fargo issued Medium-Term Notes, Series K, Principal at Risk Securities Linked to the S&P 500® Index.
  • 2The notes are due to mature on June 7, 2022.
  • 3The principal amount of these notes is at risk, meaning it is tied to the performance of the S&P 500® Index.
  • 4This 8-K filing serves to formally document the terms and legal aspects of this specific debt issuance.
  • 5The filing includes the form of the note and a legal opinion from Faegre Baker Daniels LLP.
  • 6This is a disclosure of a new financial product offering, not a report on the company's overall financial performance.

Frequently Asked Questions

These are structured financial products where the repayment of the principal amount is linked to the performance of an underlying asset, in this case, the S&P 500® Index. If the index performs poorly, investors may lose some or all of their initial investment.

No, this filing is primarily procedural and relates to a specific debt issuance. It details the terms of a new financial product being offered by Wells Fargo, rather than reporting on the company's overall financial performance or a significant shift in strategy.

The 'Form of Note' provides the detailed terms and conditions of the securities being issued. The 'Opinion of Counsel' from Faegre Baker Daniels LLP offers a legal opinion on the validity and nature of these securities, which is a standard requirement for such issuances.

The Medium-Term Notes, Series K, Principal at Risk Securities Linked to the S&P 500® Index are due to mature on June 7, 2022.