Summary
This Wells Fargo & Company (WFC) 8-K filing from March 23, 2020, is primarily informational, announcing the issuance of new Medium-Term Notes, Series A, Principal at Risk Securities. These notes, linked to the performance of the S&P 500® Index and the Invesco QQQ TrustSM, Series 1, are due to mature on March 23, 2023. The issuance is through Wells Fargo Finance LLC and is fully and unconditionally guaranteed by the parent company, Wells Fargo & Company. Investors should note that this filing does not represent a new strategic initiative or a change in financial performance but rather the documentation of a specific debt issuance. The primary purpose of this filing is to provide the SEC with the form of the note and the legal opinion from Faegre Drinker Biddle & Reath LLP regarding the notes and the guarantee. This filing is an exhibit to a previously filed Form S-3 Registration Statement.
Key Highlights
- 1Wells Fargo Finance LLC issued new Medium-Term Notes, Series A, Principal at Risk Securities.
- 2The Notes are linked to the performance of the S&P 500® Index and the Invesco QQQ TrustSM, Series 1.
- 3The maturity date for these Notes is March 23, 2023.
- 4Wells Fargo & Company provides a full and unconditional guarantee for the Notes.
- 5The filing includes the form of the Note and a legal opinion from Faegre Drinker Biddle & Reath LLP.
- 6This report is filed in connection with a previously filed Form S-3 Registration Statement.