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Nordstrom, Inc. Announces Private Exchange Offer

Nordstrom, Inc. (NYSE: JWN) announced today that it has commenced an offer to eligible holders to exchange its outstanding 7.00% Senior Notes due 2038 (the “old notes”) held by them for up to a maximum of $300,000,000 aggregate principal amount of its newly-issued 5.00% Senior Notes due 2044 (the “new notes”), the complete terms and conditions of which are set forth in a confidential offering memorandum dated December 3, 2013 (the “offering memorandum”) and the related letter of transmittal (the “exchange offer”). As of today, there are $350,000,000 aggregate principal amount of old notes outstanding.

CUSIP No.

 

Title of Series

 

Outstanding Principal Amount (US$)

 

Reference U.S. Treasury Security

 

Bloomberg Reference Page

 

Fixed Spread (basis points)

 

Early Participation Payment (1)

 
655664AL4 7.00% Senior Notes due 2038 $350,000,000 3.625% U.S. Treasury Security due August 15, 2043 PX1

98

$30.00
 

(1) To be paid in new notes per $1,000 principal amount of old notes. See Annex B to the offering memorandum for details regarding the calculation of the hypothetical exchange price for old notes tendered after the early participation date (as defined below) but before the expiration date (as defined below) and the hypothetical principal amount of new notes for old notes tendered before the early participation date. Actual amounts will be determined at the pricing time (as defined below). Does not reflect any accrued and unpaid interest. We will pay accrued and unpaid interest on the old notes up to, but not including, the applicable settlement date (as defined below).

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