What are these 'Medium-Term Notes, Series K, Principal at Risk Securities'?

These are debt securities issued by Wells Fargo with a maturity of November 13, 2024. Their return is linked to the performance of the common stock of Ford Motor Company and General Motors Company. The 'Principal at Risk' feature means that if the underlying stocks perform poorly, investors may lose a portion or all of their principal investment.

What is the main purpose of this 8-K filing?

The main purpose of this filing is to formally submit the official documentation (the 'Form of Note') for the newly issued Principal at Risk Securities and a related legal opinion from Faegre Baker Daniels LLP to the SEC.

What does the 'linked to the lowest performing' clause mean for investors?

This clause indicates that the payout or return on the note will be determined by the stock that performs the worst between Ford Motor Company and General Motors Company. If both stocks decline, the note's performance will reflect the greater decline, increasing the risk to the investor's principal.

Where can I find more details about the specific risks and terms of these notes?

The full details regarding the structure, payout calculations, risk factors, and terms of these Medium-Term Notes would be found in the 'Form of Note' document filed as Exhibit 4.1 with this 8-K report, and potentially in the related Registration Statement (File No. 333-202840).

WELLS FARGO & COMPANY/MN 8-K SEC Disclosure

Summary

This 8-K filing from Wells Fargo & Company (WFC) on November 13, 2017, primarily serves to report the issuance of new financial instruments: Medium-Term Notes, Series K, Principal at Risk Securities. These notes are linked to the performance of the common stock of Ford Motor Company and General Motors Company, with a maturity date of November 13, 2024. The filing's main purpose is to publicly disclose the official documentation for these notes and a related legal opinion. For investors, this filing indicates a new structured product offering by Wells Fargo, designed to provide a return based on the performance of automotive stocks. It's important for potential investors to understand the 'Principal at Risk' nature of these notes, meaning there is a possibility of losing principal if the underlying assets perform poorly. The specific details of the note's structure, payout, and risk factors would be found in the full offering documents, which are referenced and filed as exhibits here.

Key Highlights

1Wells Fargo & Company issued new Medium-Term Notes, Series K, Principal at Risk Securities.
2The notes are linked to the performance of Ford Motor Company and General Motors Company common stock.
3The maturity date for these notes is November 13, 2024.
4The filing's primary purpose is to submit the form of the note and a legal opinion as exhibits.
5This issuance represents a structured financial product offered by Wells Fargo.
6Investors should note the 'Principal at Risk' designation, implying potential loss of invested capital.
7The filing is in connection with a previously filed Registration Statement on Form S-3.

WELLS FARGO & COMPANY/MN 8-K Report, Exhibit Filing (Nov 13, 2017)

Summary

Key Highlights

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