Summary
Wells Fargo & Company/MN (WFC) filed an 8-K on February 26, 2020, primarily to disclose information regarding a new issuance of Medium-Term Notes, Series A. These notes are structured as Principal at Risk Securities, with their performance linked to the lowest performing of three major indices: the Russell 2000 Index, the S&P 500 Index, and the EURO STOXX 50 Index. The issuance is due to mature on February 26, 2030. The Notes are fully and unconditionally guaranteed by Wells Fargo & Company. This filing includes the form of the Note itself and a legal opinion from Faegre Drinker Biddle & Reath LLP concerning the Notes and the Guarantee. Investors should note that this filing does not represent a new financial event, but rather the formal disclosure of an existing debt issuance and its associated documentation.
Key Highlights
- 1Disclosure of new Medium-Term Notes, Series A issuance by Wells Fargo Finance LLC.
- 2Notes are structured as Principal at Risk Securities.
- 3Performance of the Notes is tied to the lowest performing of the Russell 2000®, S&P 500®, and EURO STOXX 50® Indices.
- 4Maturity date for these Notes is February 26, 2030.
- 5The Notes are fully and unconditionally guaranteed by Wells Fargo & Company.
- 6Filing includes the form of the Note and a legal opinion from Faegre Drinker Biddle & Reath LLP.
- 7This 8-K pertains to an exhibit filing, not a material financial event or change in operations.