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TheStreet Open House

Wells Fargo & Company Commences Any And All Exchange Offers For Certain Outstanding Subordinated Notes From Eligible Holders

Stocks in this article: WFC

2. Includes the early exchange premium of $30.00 principal amount of New Notes of the relevant series in respect of each $1,000 principal amount of Old Notes tendered at or prior to the Early Participation Date (as defined below) and accepted for exchange.

3. Sum of the applicable amount of cash payable and the applicable hypothetical principal amount of New Notes in respect of each $1,000 principal amount of Old Notes accepted for exchange.

4. Amount of cash payable as a portion of the exchange consideration in respect of each $1,000 principal amount of Old Notes accepted for exchange. This amount excludes accrued and unpaid interest on the Old Notes, which will be payable in addition to the exchange consideration.

5. Hypothetical principal amount of New Notes of the relevant series to be issued in respect of each $1,000 principal amount of Old Notes validly tendered at or prior to the Early Participation Date and accepted for exchange.

6. Listed on the Luxembourg Stock Exchange.

The new 2024 Notes will bear interest at a rate per annum equal to the sum of (i) the bid-side yield on the 2.500% U.S. Treasury Note due August 15, 2023 as calculated on the Price Determination Date and (ii) 1.70% (170 basis points). The new 2044 Notes will bear interest at a rate per annum equal to the sum of (i) the bid-side yield on the 3.625% U.S. Treasury Bonds due August 15, 2043 as calculated on the Price Determination Date and (ii) 1.70% (170 basis points).

Each exchange offer is subject to the condition that a minimum of $500 million aggregate principal amount of new notes of the relevant series be issued in exchange for outstanding notes validly tendered and not validly withdrawn, as well as certain other conditions as described in the confidential offering circular.

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