Summary
Wells Fargo & Company/MN (WFC) filed an 8-K on December 13, 2019, primarily to disclose information related to the issuance of new debt. Specifically, Wells Fargo Finance LLC issued Medium-Term Notes, Series A, Principal at Risk Securities Linked to the Russell 2000® Index due October 15, 2021. These notes are fully and unconditionally guaranteed by the parent company, Wells Fargo & Company. The purpose of this filing is to provide investors with the official documentation of these notes, including the form of the note itself and the legal opinion from Faegre Baker Daniels LLP concerning the notes and the guarantee. This disclosure is standard for debt issuances and aims to provide transparency regarding the terms and legal standing of the newly issued securities.
Key Highlights
- 1Disclosure of a new debt issuance: Wells Fargo Finance LLC issued Medium-Term Notes, Series A, Principal at Risk Securities.
- 2Maturity date of the new notes: October 15, 2021.
- 3Underlying index for the notes: Russell 2000® Index.
- 4Parent company guarantee: Wells Fargo & Company provides a full and unconditional guarantee for these notes.
- 5Filing purpose: To provide the form of the note and legal opinions as required for public filings.
- 6Inclusion of legal opinion: Opinion from Faegre Baker Daniels LLP regarding the notes and guarantee is filed.
- 7Consent of legal counsel: Consent from Faegre Baker Daniels LLP is also included.