8-KExhibits & Filings

WELLS FARGO & COMPANY/MN 8-K Report, Exhibit Filing (Sep 9, 2019)

Filed September 9, 2019For Securities:WFCWFC-PDWFC-PCWFC-PYWFC-PAWFC-PLWFCNPWFC-PZ

Summary

This 8-K filing from Wells Fargo & Company/MN (WFC) on September 9, 2019, primarily serves to disclose the details of newly issued Medium-Term Notes, Series A, by its subsidiary Wells Fargo Finance LLC. These notes are structured as "Principal at Risk Securities" and are linked to various market indices and ETFs, including the S&P 500®, SPDR® S&P 500® ETF Trust, Energy Select Sector SPDR® Fund, and the Dow Jones Industrial Average®. These issuances represent a specific financing activity by Wells Fargo Finance LLC, with Wells Fargo & Company providing a full and unconditional guarantee for these notes. For investors, this filing highlights that Wells Fargo is actively engaging in the debt markets through its subsidiary, offering structured financial products. The "Principal at Risk" nature of these notes implies that the return of principal is contingent on the performance of the underlying index or ETF, meaning investors could lose a portion or all of their principal if the linked asset performs poorly. The filing includes the specific forms of these notes and a legal opinion from Faegre Baker Daniels LLP, confirming the legality of these notes and the guarantee.

Key Highlights

  • 1Wells Fargo Finance LLC issued new Medium-Term Notes, Series A.
  • 2The notes are structured as "Principal at Risk Securities," meaning principal could be lost.
  • 3The performance of these notes is linked to indices/ETFs: S&P 500®, SPDR® S&P 500® ETF, Energy Select Sector SPDR® Fund, and Dow Jones Industrial Average®.
  • 4Wells Fargo & Company provides a full and unconditional guarantee for these issued notes.
  • 5The filing includes the specific forms of the notes issued.
  • 6A legal opinion from Faegre Baker Daniels LLP regarding the notes and guarantee is included.

Frequently Asked Questions

Principal at Risk Securities are a type of structured financial product where the repayment of your initial investment (principal) is not fully guaranteed. The amount of principal you receive back at maturity depends on the performance of an underlying asset, such as a stock market index or ETF. If the underlying asset performs poorly, you could lose a portion or all of your principal.

The primary purpose of this 8-K filing is to officially submit the documentation for the newly issued Medium-Term Notes, Series A, by Wells Fargo Finance LLC to the Securities and Exchange Commission (SEC). This includes the specific forms of the notes and a legal opinion on their validity and the guarantee provided by Wells Fargo & Company.

Yes, Wells Fargo & Company provides a full and unconditional guarantee for all the Medium-Term Notes, Series A, issued by Wells Fargo Finance LLC. This means that Wells Fargo & Company is obligated to ensure that the obligations under these notes are met.

The newly issued notes are linked to the performance of the following: the S&P 500® Index, the SPDR® S&P 500® ETF Trust, the Energy Select Sector SPDR® Fund, and the Dow Jones Industrial Average®.