Summary
Wells Fargo & Company filed an 8-K on January 4, 2019, to disclose the issuance of new financial instruments. Specifically, the company has issued "Medium-Term Notes, Series S, Principal at Risk Securities Linked to the S&P 500® Index due January 4, 2024" (the "Notes"). This filing is primarily to provide the documentation related to this issuance, including the form of the Notes and the legal opinion of Faegre Baker Daniels LLP concerning these securities.
Key Highlights
- 1Wells Fargo has issued new "Medium-Term Notes, Series S, Principal at Risk Securities" with a maturity date of January 4, 2024.
- 2These Notes are linked to the performance of the S&P 500® Index.
- 3The filing's primary purpose is to register the form of the Notes and related legal opinions with the SEC.
- 4The filing is made in connection with a previously filed Registration Statement on Form S-3 (File No. 333-221324).
- 5The legal opinion is provided by Faegre Baker Daniels LLP.
- 6The company is providing the consent of Faegre Baker Daniels LLP as part of the exhibits.
Frequently Asked Questions
These are structured financial products where the principal amount returned at maturity is linked to the performance of an underlying asset, in this case, the S&P 500® Index. Investors could potentially lose principal if the index performs poorly.
This 8-K filing is primarily to officially present the documentation for the newly issued Medium-Term Notes, Series S, including their specific terms and a legal opinion from Faegre Baker Daniels LLP, as required by the SEC.
Faegre Baker Daniels LLP is a law firm. Their involvement is to provide a legal opinion on the Notes, confirming aspects of their structure and legality. Their consent is also required as an exhibit.
This filing relates to the issuance of debt securities (Medium-Term Notes) that are structured with a principal-at-risk feature. It's a form of borrowing by Wells Fargo but with a payoff linked to market performance.