Summary
Wells Fargo & Company/MN (WFC) filed an 8-K on February 7, 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" linked to various equity indices and ETFs, with maturity dates ranging from August 2021 to February 2024. Wells Fargo & Company provides a full and unconditional guarantee for these debt instruments. The filing itself does not contain new financial results or operational updates but rather serves to officially register and provide the documentation for these specific debt offerings. Investors should note that the "Principal at Risk" nature of these securities means that the return of principal is contingent upon the performance of the underlying index or ETF, and investors could lose principal if the linked asset performs poorly.
Key Highlights
- 1Wells Fargo Finance LLC issued new Medium-Term Notes, Series A.
- 2The Notes are structured as "Principal at Risk Securities."
- 3The Notes are linked to equity indices (S&P 500 Index) and an ETF (SPDR® S&P 500® ETF Trust).
- 4Maturity dates for the Notes range from August 2021 to February 2024.
- 5Wells Fargo & Company (WFC) fully and unconditionally guarantees the issued Notes.
- 6The 8-K filing includes the forms of the Notes and the legal opinion from Faegre Drinker Biddle & Reath LLP.
- 7This filing relates to a prior Form S-3 registration statement.