8-KExhibits & Filings

WELLS FARGO & COMPANY/MN 8-K Report, Exhibit Filing (Nov 5, 2018)

Filed November 5, 2018For Securities:WFCWFC-PDWFC-PCWFC-PYWFC-PAWFC-PLWFCNPWFC-PZ

Summary

Wells Fargo & Company (WFC) filed an 8-K on November 5, 2018, primarily to disclose the issuance of new Medium-Term Notes, Series S. These notes are "Principal at Risk Securities" and their performance is linked to the lowest performing of the S&P 500® Index, the Russell 2000® Index, and the Nasdaq-100 Index®, with a maturity date of November 2, 2023. This filing does not contain new financial statements but rather provides the documentation related to this specific debt issuance. The core purpose of this 8-K is to file the form of the Note itself and the legal opinion from Faegre Baker Daniels LLP regarding these securities. Investors should note that this issuance represents a structured product where the principal repayment is contingent on the performance of the underlying stock indices. This is a standard disclosure for such financial instruments and does not indicate any new operational or financial performance developments for Wells Fargo itself.

Key Highlights

  • 1Disclosure of new "Medium-Term Notes, Series S, Principal at Risk Securities" issued by Wells Fargo.
  • 2The notes' principal repayment is contingent on the performance of the lowest performing of the S&P 500®, Russell 2000®, and Nasdaq-100® indices.
  • 3Maturity date for these notes is November 2, 2023.
  • 4The filing includes the form of the Note and a legal opinion from Faegre Baker Daniels LLP.
  • 5This 8-K is primarily for regulatory filing of debt instrument documentation, not for reporting financial performance updates.
  • 6The issuance is related to a prior Registration Statement on Form S-3 (File No. 333-221324).

Frequently Asked Questions

The primary purpose of this 8-K filing is to officially record and provide the documentation for a new issuance of "Medium-Term Notes, Series S, Principal at Risk Securities." It includes the specific terms of these notes and a legal opinion concerning them.

These are "Principal at Risk Securities," meaning the repayment of the principal is not guaranteed. The principal amount at maturity is linked to the performance of the lowest performing among the S&P 500® Index, the Russell 2000® Index, and the Nasdaq-100® Index. If the performance of the lowest index is significantly negative, investors could lose a portion or all of their principal.

No, this 8-K filing is purely administrative and related to the issuance of a specific structured financial product. It does not contain any new financial statements, operational updates, or material business developments for Wells Fargo & Company.

Faegre Baker Daniels LLP is the law firm that provided a legal opinion regarding the structure and legality of the "Principal at Risk Securities" being issued by Wells Fargo. Their consent to be cited is also included as required for such filings.