Summary
This 8-K filing from Wells Fargo & Company (WFC) on June 13, 2018, primarily serves to disclose the details and legal opinions related to the issuance of new Medium-Term Notes, Series S. These notes are structured as "Principal at Risk Securities" and are linked to the performance of the S&P 500® Index, the Russell 2000® Index, and the EURO STOXX 50® Index. Specifically, the payout and principal protection of these notes are contingent on the performance of the lowest-performing of these three major indices. Investors should note that these are complex financial instruments. The "Principal at Risk" designation indicates that investors could lose a portion or all of their principal investment, depending on the performance of the underlying indices. The filing itself does not contain new financial statements or material business updates, but rather provides the legal documentation, including the form of the notes and the legal opinion from Faegre Baker Daniels LLP, as required for the associated Registration Statement on Form S-3.
Key Highlights
- 1Wells Fargo & Company filed an 8-K on June 13, 2018.
- 2The filing relates to the issuance of Medium-Term Notes, Series S.
- 3These notes are structured as "Principal at Risk Securities."
- 4The performance of the notes is linked to the lowest performing of the S&P 500® Index, Russell 2000® Index, and EURO STOXX 50® Index.
- 5The maturity date for these notes is May 27, 2022.
- 6The filing includes the form of the notes and a legal opinion from Faegre Baker Daniels LLP.
- 7This filing is in connection with a Registration Statement on Form S-3.