WELLS FARGO ANNOUNCES PRICING FOR DEBT TENDER OFFER
SAN FRANCISCO — June 22, 2004
Wells Fargo & Company (NYSE: WFC) today announced the reference yield and purchase price for each series of securities included in its previously announced tender offer for 17 different series of debt of the Company and its affiliates. Under the terms of the tender offer, for each $1,000 principal amount of securities in a series tendered and accepted, the Company has offered to pay on the applicable settlement date a purchase price intended to result in a yield to maturity equal to the sum of the reference yield for that series plus the fixed spread for that series, subject to a specified maximum purchase price for that series. For each series, the purchase price based on the fixed spread is less than the maximum purchase price specified for that series. The table included in this news release provides the reference yield, fixed spread, and purchase price per $1,000 principal amount for each series of securities included in the tender offer.
The offer consists of a separate offer for each series of debt securities. The Company is conducting each offer in accordance with the Offer to Purchase dated June 17, 2004. Each offer will expire at 11:59 p.m., New York City time, on Wednesday, June 23, 2004, unless extended or earlier terminated. Each offer is conditioned on the Company paying no more than $2.5 billion (more) in total (including interest) for all securities purchased in all of the offers. If acceptance of all securities validly tendered in all of the offers would require the Company to pay more than $2.5 billion in total (including interest), the Company currently intends to terminate one or more offers so that the total amount it pays for the securities it purchases in the remaining offers is no more than this amount, but the Company is not obligated to do so. Each offer is also conditioned on satisfaction of the other conditions described in the Offer to Purchase.
Goldman, Sachs & Co. and Morgan Stanley are the dealer managers for the offer. Global Bondholder Services Corporation is the Depositary and Information Agent. This news release is neither an offer to purchase nor a solicitation of an offer to sell the securities. The offers are made only by the Offer to Purchase dated June 17, 2004, and the information in this news release is qualified by reference to the Offer to Purchase. Persons with questions regarding the offer should contact Goldman, Sachs & Co. at (877) 686-5059 or (212) 357-3019 or Morgan Stanley at (800) 624-1808 or (212) 761-1941. Requests for documents should be directed to Global Bondholder Services Corporation at (866) 873-6300 or (212) 430-3774
Wells Fargo & Company is a diversified financial services company with $397 billion in assets, providing banking, insurance, investments, mortgage and consumer finance from more than 5,900 stores and the internet (wellsfargo.com) across North America and elsewhere internationally.