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Wells Fargo & Company Announces Pricing Terms Of Note Exchange Offers

Wells Fargo & Company (NYSE:WFC) announced today the pricing terms of its previously announced private offers to exchange (i) any and all outstanding subordinated notes of Wells Fargo & Company listed in the table below (the “Parent Notes”) for new Subordinated Notes due January 16, 2024, of Wells Fargo & Company (the “2024 Notes”), and (ii) any and all subordinated notes of Wells Fargo Bank, N.A. listed in the table below (together with the Parent Notes, the “Old Notes”) for new Subordinated Notes due January 15, 2044 of Wells Fargo & Company (the “2044 Notes” and, together with the 2024 Notes, the “New Notes”) and cash, if any. The pricing terms were determined as of the price determination date, which was 11:00 a.m., New York City time, on November 21, 2013, in accordance with the terms set out in the confidential offering circular for the exchange offers, dated November 6, 2013, and the related letter of transmittal.

The interest rate on the new 2024 Notes will be 4.480%, determined by reference to the bid-side yield on the 2.500% U.S. Treasury due August 15, 2023, as of the price determination date, which was 2.780%. The interest rate on the new 2044 Notes will be 5.606%, determined by reference to the bid-side yield on the 3.625% U.S. Treasury due August 15, 2043, as of the price determination date, which was 3.906%.

The total exchange price to be received in each exchange offer for each $1,000 principal amount of the relevant series of Old Notes validly tendered, and not validly withdrawn, at or prior to the early participation date (5:00 p.m., New York City time, on November 20, 2013), is set forth in the table below. Each total exchange price includes the early exchange premium of $30.00 principal amount of the applicable series of New Notes per $1,000 principal amount of Old Notes validly tendered, and not validly withdrawn, at or prior to the early participation date. The total exchange price for each exchange offer has been determined in accordance with the procedures set forth in the confidential offering circular. Holders of Old Notes that validly tender Old Notes after the early participation date and whose Old Notes are accepted in the applicable exchange offer will receive the exchange price, which is the total exchange price less the early exchange premium.

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