Summary
This Current Report (8-K) filed by Wells Fargo & Company on September 8, 2017, primarily serves to disclose the issuance of new financial instruments and related documentation. Specifically, the company is filing the form of "Medium-Term Notes, Series K, Principal at Risk Securities Linked to the Energy Select Sector SPDR® Fund due September 8, 2020" (the “Notes"). These notes are linked to the performance of the Energy Select Sector SPDR® Fund, indicating a structured product with an investment tied to the energy sector. For investors, this filing signals Wells Fargo's ongoing activities in offering structured financial products. The "Principal at Risk" nature of these notes means that the principal amount invested could be lost if the underlying Energy Select Sector SPDR® Fund performs unfavorably. Investors considering these notes should carefully review the terms and conditions, particularly the risk factors associated with the energy sector and the specific structure of the notes, to understand the potential for both gains and losses.
Key Highlights
- 1Wells Fargo & Company issued new "Medium-Term Notes, Series K, Principal at Risk Securities" on September 7, 2017.
- 2These notes are linked to the performance of the Energy Select Sector SPDR® Fund.
- 3The maturity date for these notes is September 8, 2020.
- 4The filing includes the form of the note as an exhibit.
- 5An opinion from Faegre Baker Daniels LLP regarding the notes is also filed.
- 6The "Principal at Risk" feature indicates potential loss of invested principal.
- 7This filing is related to a Registration Statement on Form S-3 previously filed by Wells Fargo.