8-KExhibits & Filings

WELLS FARGO & COMPANY/MN 8-K Report, Exhibit Filing (May 31, 2019)

Filed May 31, 2019For Securities:WFCWFC-PDWFC-PCWFC-PYWFC-PAWFC-PLWFCNPWFC-PZ

Summary

This 8-K filing from Wells Fargo & Company (WFC) on May 31, 2019, primarily concerns the issuance of several series of Medium-Term Notes, Series A, by its subsidiary Wells Fargo Finance LLC. These notes are structured as Principal at Risk Securities, with their returns linked to the performance of the S&P 500® Index and the EURO STOXX 50® Index. The notes have maturity dates in May 2022 and December 2021. A key aspect for investors is that Wells Fargo & Company provides a full and unconditional guarantee for these debt issuances. The filing itself serves to officially record the documentation related to these notes. It includes the specific forms of the notes and the legal opinion from Faegre Baker Daniels LLP confirming the validity of both the notes and the guarantee. This filing does not contain new financial statements or disclose material operational changes, but rather standard exhibit filings related to debt offerings under an existing registration statement.

Key Highlights

  • 1Wells Fargo Finance LLC issued new Medium-Term Notes, Series A, on May 30, 2019.
  • 2These notes are 'Principal at Risk Securities,' meaning their payout is contingent on underlying index performance.
  • 3The underlying indices for these notes are the S&P 500® Index and the EURO STOXX 50® Index.
  • 4Maturity dates for the notes are May 31, 2022, and December 2, 2021.
  • 5Wells Fargo & Company (WFC) has provided 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.
  • 7This 8-K is an exhibit filing related to an existing Form S-3 registration statement.

Frequently Asked Questions

Principal at Risk Securities (PARS) are structured financial products where the return of the principal investment is subject to the performance of an underlying asset or index. If the underlying index performs poorly, investors may lose a portion or all of their principal investment.

The full and unconditional guarantee from Wells Fargo & Company means that the parent company is legally obligated to ensure that the obligations under these notes are met. This provides an added layer of security for investors, as it means WFC's creditworthiness backs the debt, not just that of its subsidiary, Wells Fargo Finance LLC.

No, this 8-K filing is an exhibit filing and does not disclose new financial statements or material operational changes. It is primarily to document the issuance of specific debt securities and the related legal documentation.

Wells Fargo Finance LLC is a subsidiary of Wells Fargo & Company, often used for issuing debt and managing the company's financing activities.