Summary
This Wells Fargo & Company (WFC) 8-K filing primarily concerns the issuance of new debt securities by its subsidiary, Wells Fargo Finance LLC. Specifically, the filing details the issuance of three series of Medium-Term Notes, Series A, which are 'Principal at Risk Securities' linked to various equity market indices: the S&P 500® Index (with two different maturity dates) and the MSCI EAFE Index®. These notes are fully and unconditionally guaranteed by Wells Fargo & Company. The main purpose of this filing is to provide the legal documentation for these debt issuances. Investors should note that these are structured products where the principal repayment is contingent on the performance of the linked indices. The filing includes the forms of the notes and a legal opinion from Faegre Baker Daniels LLP regarding the notes and the guarantee.
Key Highlights
- 1Wells Fargo Finance LLC issued three series of Medium-Term Notes, Series A, as Principal at Risk Securities.
- 2The notes are linked to the performance of the S&P 500® Index (two series) and the MSCI EAFE Index®.
- 3Wells Fargo & Company provides a full and unconditional guarantee for these notes.
- 4The issuance is in connection with a Registration Statement on Form S-3 previously filed with the SEC.
- 5The filing includes the forms of the notes and a legal opinion from Faegre Baker Daniels LLP.
- 6The notes have stated maturities of October 4, 2021, and November 2, 2020.