Summary
Wells Fargo & Company/MN (WFC) filed an 8-K on October 3, 2017, primarily to disclose the issuance of various Medium-Term Notes, Series K, which are structured as "Principal at Risk Securities." These notes are linked to different underlying assets, including ETFs like the iShares MSCI EAFE ETF and the VanEck Vectors Gold Miners ETF, as well as performance of major stock indices such as the S&P 500, Russell 2000, and EURO STOXX 50. The filing serves to make the official documentation and legal opinions for these specific debt instruments publicly available. For investors, this filing indicates that Wells Fargo is actively engaging in structured product offerings. The "Principal at Risk" nature of these notes means that investors could lose a portion or all of their principal investment if the linked assets or indices perform poorly. The maturity dates for these notes range from October 2019 to October 2027, highlighting a mix of short-term and longer-term structured debt issuances.
Key Highlights
- 1Wells Fargo issued new Medium-Term Notes, Series K, on October 2, 2017.
- 2These notes are classified as "Principal at Risk Securities," meaning investors face potential loss of principal.
- 3The notes are linked to various investment vehicles including ETFs and major stock market indices.
- 4Specific underlying assets include the iShares MSCI EAFE ETF and the VanEck Vectors Gold Miners ETF.
- 5Index-linked notes reference the S&P 500, Russell 2000, and EURO STOXX 50 indices.
- 6Maturity dates for these notes range from October 3, 2019, to October 4, 2027.
- 7The filing includes the forms of the Notes and a legal opinion from Faegre Baker Daniels LLP.