Summary
Wells Fargo & Company (WFC) filed a Current Report on Form 8-K on April 22, 2024, to report the issuance of new debt securities. Specifically, the company issued two tranches of Medium-Term Notes, Series W, with a total aggregate principal amount of $4.25 billion. The first tranche consists of $3.25 billion in Senior Redeemable Fixed-to-Floating Rate Notes due April 22, 2028. The second tranche is $1 billion in Senior Redeemable Floating Rate Notes, also due April 22, 2028. This filing primarily serves to provide the necessary documentation, including the forms of these notes and the legal opinion from Faegre Drinker Biddle & Reath LLP, in connection with a previously filed Registration Statement on Form S-3.
Key Highlights
- 1Wells Fargo issued $4.25 billion in new debt.
- 2The debt is comprised of two tranches of Medium-Term Notes, Series W.
- 3The notes have a maturity date of April 22, 2028.
- 4One tranche is a Fixed-to-Floating Rate Note ($3.25 billion).
- 5The other tranche is a Floating Rate Note ($1 billion).
- 6The filing includes the forms of the notes and a legal opinion from Faegre Drinker Biddle & Reath LLP.
- 7This issuance is related to a prior Registration Statement on Form S-3.
Frequently Asked Questions
Wells Fargo issued a total of $4.25 billion in new debt through two tranches of Medium-Term Notes, Series W.
Both tranches of the Medium-Term Notes, Series W, mature on April 22, 2028.
This 8-K filing is primarily to provide the official documentation, including the forms of the issued notes and the legal opinion from Faegre Drinker Biddle & Reath LLP, in connection with the debt issuance, supporting a previously filed Registration Statement on Form S-3.
Wells Fargo issued two types of notes: $3.25 billion in Senior Redeemable Fixed-to-Floating Rate Notes and $1 billion in Senior Redeemable Floating Rate Notes.