SAN FRANCISCO - March 17, 2010
Wells Fargo & Company (NYSE: WFC) today announced a notice of scheduled yield reset on May 3, 2010 and notice of purchase right related to its Remarketed Senior Debentures Due 2033 (the “Debentures”), as required by the Indenture dated as of April 15, 2003 between the Company and Citibank, N.A., as trustee, as amended. Because less than $50 million aggregate original principal amount of the Debentures is outstanding, a remarketing of the Debentures will not be conducted, and holders will be deemed to automatically elect to require the Company to purchase the Debentures for cash at 100% of their accreted principal amount as of May 3, 2010. If a holder of the Debentures wants to retain Debentures and therefore does not want the Company to purchase such Debentures, such holder must notify Wells Fargo Bank, N.A., as paying agent, on or before April 16, 2010 of the aggregate principal amount of Debentures such holder does not want the Company to purchase.
A beneficial owner of the Debentures should contact the broker, dealer, trust company, bank or other nominee through which it owns the Debentures to determine the procedure, if it wishes to elect to retain the Debentures.
Wells Fargo & Company is a diversified financial services company with $1.2 trillion in assets, providing banking, insurance, investments, mortgage and consumer finance through more than 10,000 stores and 12,000 ATMs and the internet (wellsfargo.com) across North America and internationally.
This announcement is not an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Debentures in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful.