8-KExhibits & Filings

WELLS FARGO & COMPANY/MN 8-K Report, Exhibit Filing (Feb 13, 2020)

Filed February 13, 2020For Securities:WFCWFC-PDWFC-PCWFC-PYWFC-PAWFC-PLWFCNPWFC-PZ

Summary

Wells Fargo & Company/MN (WFC) filed an 8-K on February 13, 2020, primarily to disclose the terms of new debt issuances by its subsidiary, Wells Fargo Finance LLC. These issuances involve "Medium-Term Notes, Series A," which are structured as "Principal at Risk Securities." These notes are linked to specific market indices: one to the EURO STOXX 50® Index, and another to the performance of the Dow Jones Industrial Average®, the Russell 2000® Index, and the Nasdaq-100 Index®. The key takeaway for investors is the nature of these notes, which are "Principal at Risk Securities." This implies that the principal amount invested could be subject to loss based on the performance of the underlying indices. Wells Fargo & Company provides a full and unconditional guarantee for these notes, meaning the parent company is ultimately responsible for repayment. This filing provides the formal documentation and legal opinions related to these specific debt instruments, rather than reporting on significant operational or financial performance changes for WFC itself.

Key Highlights

  • 1Wells Fargo Finance LLC issued new "Medium-Term Notes, Series A" on February 12, 2020.
  • 2The notes are structured as "Principal at Risk Securities," meaning investors could lose principal.
  • 3One series of notes is linked to the EURO STOXX 50® Index.
  • 4Another series of notes is linked to the lowest performing of the Dow Jones Industrial Average®, Russell 2000® Index, and Nasdaq-100 Index®.
  • 5The notes have a maturity date of February 13, 2025.
  • 6Wells Fargo & Company (WFC) provides a full and unconditional guarantee for these notes.
  • 7The filing includes the forms of the notes and legal opinions from Faegre Drinker Biddle & Reath LLP.

Frequently Asked Questions

Principal at Risk Securities are investment products where the return of the initial principal amount is not fully guaranteed. The amount returned to the investor at maturity can be less than the original principal investment, depending on the performance of an underlying asset or index.

This 8-K filing is primarily to publicly disclose the forms of the newly issued "Medium-Term Notes, Series A" and related legal opinions. It's a regulatory requirement for these types of debt issuances, rather than an announcement of new financial results or significant company events.

Yes, Wells Fargo & Company provides a full and unconditional guarantee for the Medium-Term Notes issued by its subsidiary, Wells Fargo Finance LLC. This means WFC is ultimately responsible for the payment obligations associated with these notes.

This filing discloses the terms of the notes, but it does not explicitly state whether they were offered to the general public or to institutional investors. Investors interested in these specific notes would need to consult their financial advisor or the offering documents for details on availability and investment suitability.