Summary
Wells Fargo & Company filed an 8-K report on February 1, 2018, to disclose the issuance of new Medium-Term Notes, Series K, which are Principal at Risk Securities. These notes are linked to the performance of the S&P 500® Index and the Russell 2000® Index, with a maturity date of October 30, 2019. The primary purpose of this filing is to provide the official documentation of these notes and the legal opinion from Faegre Baker Daniels LLP concerning them, as required for their registration. From an investor's perspective, these "Principal at Risk Securities" indicate a structured product where the principal investment is subject to the performance of the underlying indices. This means that if the linked indices underperform, investors could lose a portion or all of their principal. The filing doesn't provide details on the specific terms of the principal at risk feature or the potential returns, but it establishes the formal structure and legal basis for this offering.
Key Highlights
- 1Wells Fargo issued new "Medium-Term Notes, Series K, Principal at Risk Securities" on January 31, 2018.
- 2The notes are linked to the performance of the S&P 500® Index and the Russell 2000® Index.
- 3The maturity date for these notes is October 30, 2019.
- 4The 8-K filing serves to register the form of the Notes and provide a legal opinion.
- 5The filing includes the form of the Notes as an exhibit.
- 6A legal opinion from Faegre Baker Daniels LLP regarding the Notes is also included as an exhibit.
- 7The "Principal at Risk" nature of the securities means investors face potential loss of principal based on index performance.