Summary
This 8-K filing from Wells Fargo & Company/MN (WFC) on January 7, 2020, primarily concerns the issuance of new financial instruments by its subsidiary, Wells Fargo Finance LLC. Specifically, it details the creation of two types of Medium-Term Notes, Series A, which are structured as "Principal at Risk Securities." These notes are linked to either the SPDR® S&P 500® ETF Trust or an International Equity Index Basket and have a maturity date of January 9, 2023. Investors should note that Wells Fargo & Company provides a full and unconditional guarantee for these notes. The filing's main purpose is to provide the necessary documentation, including the forms of the notes and the legal opinions from Faegre Baker Daniels LLP, which are being filed with the Securities and Exchange Commission in connection with a previously filed Registration Statement on Form S-3. This filing does not represent a new debt offering in itself but rather the official filing of the documentation related to previously registered securities.
Key Highlights
- 1Wells Fargo Finance LLC issued "Principal at Risk Securities" as Medium-Term Notes, Series A.
- 2The notes are linked to either the SPDR® S&P 500® ETF Trust or an International Equity Index Basket.
- 3The maturity date for these notes is January 9, 2023.
- 4Wells Fargo & Company provides a full and unconditional guarantee for the notes issued by its subsidiary.
- 5The filing includes the forms of the notes and legal opinions regarding the notes and the guarantee.
- 6This 8-K is filed in connection with a Registration Statement on Form S-3, indicating these securities were pre-registered.
- 7The filing ensures regulatory compliance by providing the necessary documentation to the SEC.