Summary
Wells Fargo & Company (WFC) filed an 8-K report on April 14, 2020, primarily to disclose the issuance of new financial instruments and related legal documentation. Specifically, Wells Fargo Finance LLC, with a guarantee from Wells Fargo & Company, issued "Medium-Term Notes, Series A, Principal at Risk Securities Linked to the Lowest Performing of the S&P 500® Index and the Dow Jones Industrial Average® due April 14, 2025." These notes represent a new debt offering with a principal amount at risk, tied to the performance of the S&P 500 and Dow Jones Industrial Average indices.
Key Highlights
- 1Wells Fargo Finance LLC issued new Medium-Term Notes, Series A, due April 14, 2025.
- 2These notes are Principal at Risk Securities, meaning the principal value is subject to market performance.
- 3The performance of the notes is linked to the lowest performing of the S&P 500® Index and the Dow Jones Industrial Average®.
- 4Wells Fargo & Company provided a full and unconditional guarantee for these notes.
- 5The filing includes the form of the note and a legal opinion from Faegre Drinker Biddle & Reath LLP.
- 6This event is related to a previously filed Registration Statement on Form S-3.