Summary
Wells Fargo & Company (WFC) filed an 8-K report on January 29, 2020, primarily to disclose information related to the issuance of new 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 specific market indices: one to the MSCI EAFE Index® and another to a basket of two indices and one ETF. These particular notes are due to mature on January 27, 2023. The primary purpose of this filing is to provide investors and the market with the official documentation for these new debt instruments. This includes the forms of the Notes themselves and the legal opinion from Faegre Baker Daniels LLP, confirming the validity of the Notes and the Guarantee provided by Wells Fargo & Company. Investors should note that these are structured products where the principal repayment is contingent on the performance of the underlying indices.
Key Highlights
- 1Wells Fargo Finance LLC issued new Medium-Term Notes, Series A, on January 28, 2020.
- 2The notes are classified as "Principal at Risk Securities," meaning principal repayment is tied to market performance.
- 3One note is linked to the MSCI EAFE Index®.
- 4Another note is linked to a basket of two indices and one ETF.
- 5These specific notes have a maturity date of January 27, 2023.
- 6Wells Fargo & Company fully and unconditionally guarantees these notes.
- 7The filing includes the forms of the notes and a legal opinion from Faegre Baker Daniels LLP.