Summary
Wells Fargo & Company/MN (WFC) filed an 8-K on April 2, 2019, primarily to disclose details regarding the issuance of new Medium-Term Notes, Series A by its subsidiary, Wells Fargo Finance LLC. These notes are structured as "Principal at Risk Securities" with payouts linked to specific stock market indices, indicating a structured product offering to investors. These issuances, maturing in 2024 and 2027, are guaranteed by the parent company, Wells Fargo & Company, providing an additional layer of credit assurance. The filing includes the forms of these notes and an accompanying legal opinion from Faegre Baker Daniels LLP, confirming the legality and structure of the notes and the guarantee. Investors interested in these specific note offerings should review the terms and risks associated with principal-at-risk securities.
Key Highlights
- 1Wells Fargo Finance LLC issued new Medium-Term Notes, Series A.
- 2The notes are structured as "Principal at Risk Securities".
- 3Note issuances are linked to the performance of specific stock market indices (S&P 500®, Russell 2000®, EURO STOXX 50®).
- 4The Notes have maturity dates of April 3, 2024, and April 8, 2027.
- 5Wells Fargo & Company provides a full and unconditional guarantee for these notes.
- 6The filing includes the forms of the notes and a legal opinion from Faegre Baker Daniels LLP.