8-KExhibits & Filings

WELLS FARGO & COMPANY/MN 8-K Report, Exhibit Filing (Nov 29, 2019)

Filed November 29, 2019For Securities:WFCWFC-PDWFC-PCWFC-PYWFC-PAWFC-PLWFCNPWFC-PZ

Summary

This Wells Fargo & Company (WFC) 8-K filing primarily concerns the issuance of new debt securities and the associated legal documentation. Specifically, it details the release of Medium-Term Notes, Series T, due in November 2022, by Wells Fargo & Company, and various Medium-Term Notes, Series A, by Wells Fargo Finance LLC, with maturity dates ranging from 2021 to 2029. These Series A Notes are linked to various market indices, including the EURO STOXX 50®, Dow Jones Industrial Average®, Russell 2000®, and S&P 500®, and are guaranteed by Wells Fargo & Company. The purpose of this filing is to provide investors with the official forms of these notes, as well as legal opinions from Faegre Baker Daniels LLP concerning the Series T Notes, Series A Notes, and the Guarantee. For investors, this filing signifies ongoing capital markets activity and the company's use of debt to fund operations or other corporate purposes. The nature of the Series A Notes as 'Principal at Risk Securities' suggests potential for both principal loss and gain depending on the performance of the underlying indices.

Key Highlights

  • 1Wells Fargo & Company issued Medium-Term Notes, Series T, due November 29, 2022.
  • 2Wells Fargo Finance LLC issued multiple series of Medium-Term Notes, Series A, with varying maturity dates (2021-2029).
  • 3Series A Notes are 'Principal at Risk Securities' linked to major market indices (EURO STOXX 50®, Dow Jones Industrial Average®, Russell 2000®, S&P 500®).
  • 4Wells Fargo & Company fully and unconditionally guarantees the Series A Notes.
  • 5The filing includes the forms of the issued notes as exhibits.
  • 6Legal opinions from Faegre Baker Daniels LLP regarding the notes and the guarantee are filed with the SEC.
  • 7This filing supports the company's existing Registration Statement on Form S-3.

Frequently Asked Questions

The primary purpose of this 8-K filing is to officially announce and provide the necessary documentation for the issuance of new debt securities by Wells Fargo & Company and Wells Fargo Finance LLC. This includes filing the forms of the Medium-Term Notes (Series T and Series A) and related legal opinions.

'Principal at Risk Securities' are a type of investment where the principal amount invested may be lost, in whole or in part, depending on the performance of an underlying asset or index. For investors, this means they are exposed to potential losses beyond the interest payments they might receive, but could also see enhanced returns if the linked index performs well. The specific terms and conditions outlined in the note documentation will determine the exact risk and return profile.

No, this specific 8-K filing (Item 9.01) does not report new financial statements or material financial changes. It exclusively pertains to the disclosure of debt issuances and related legal documentation, rather than financial performance updates.

Wells Fargo & Company provides a full and unconditional guarantee for all of the Medium-Term Notes, Series A, issued by Wells Fargo Finance LLC. This means that Wells Fargo & Company is directly responsible for ensuring that these notes are repaid.