Summary
Wells Fargo & Company/MN (WFC) filed an 8-K report on August 20, 2018, primarily to disclose the issuance of new Medium-Term Notes, Series S. These notes are structured as Principal at Risk Securities, with their performance directly linked to the lowest performing common stock of either Philip Morris International Inc. or Altria Group, Inc. The maturity date for these specific notes is August 19, 2021. This filing is not indicative of a significant financial event or operational change for Wells Fargo itself, but rather the documentation of a structured financial product offered to investors. Investors interested in these notes should pay close attention to the underlying assets (Philip Morris International Inc. and Altria Group, Inc. stocks) as their performance will dictate the return and principal repayment of the Notes. The filing includes the form of the note and related legal opinions, as required by SEC regulations for such issuances.
Key Highlights
- 1Wells Fargo & Company issued new Medium-Term Notes, Series S, on August 20, 2018.
- 2These notes are structured as Principal at Risk Securities.
- 3The performance of the Notes is linked to the lowest performing common stock of Philip Morris International Inc. and Altria Group, Inc.
- 4The maturity date for these Notes is August 19, 2021.
- 5The filing's purpose is to provide documentation for the Note issuance, including the form of the Note and legal opinions.
- 6This filing does not report on Wells Fargo's core financial performance or significant business changes.