Summary
This 8-K filing by Wells Fargo & Company/MN (WFC) primarily relates to an amendment and restatement of previously issued Medium-Term Notes, Series A, Principal at Risk Securities. These notes, originally issued on March 3, 2020, are linked to the performance of the Russell 2000® Index and the EURO STOXX 50® Index, with a maturity date of March 4, 2030. The company, Wells Fargo Finance LLC, along with guarantor Wells Fargo & Company and Citibank, N.A., entered into a First Supplemental Indenture on August 7, 2020, to modify these terms. From an investor's perspective, this filing signifies a modification to the existing debt instrument. While the core structure of the notes—principal at risk and linked to specific indices—remains, the supplemental indenture details the updated terms. Investors holding these specific notes should review the First Supplemental Indenture to understand any changes affecting their investment, particularly concerning the underlying index performance and any associated risks or protections.
Key Highlights
- 1Amendment and restatement of Medium-Term Notes, Series A, Principal at Risk Securities.
- 2Notes are linked to the performance of the Russell 2000® Index and the EURO STOXX 50® Index.
- 3Original issuance date of the Notes was March 3, 2020; amended as of August 7, 2020.
- 4Maturity date for the Notes is March 4, 2030.
- 5The First Supplemental Indenture modifies the terms of the original Indenture dated April 25, 2018.
- 6Key parties involved include Wells Fargo Finance LLC (Issuer), Wells Fargo & Company (Guarantor), and Citibank, N.A. (Trustee).
- 7Exhibit 4.1 contains the First Supplemental Indenture, and Exhibit 4.2 is the form of the amended note.