Wells Fargo remarkets convertibles at 100.05, accrete at 3.55175%

New York, May 1 - Wells Fargo & Co. said it remarketed $2,899,023,500 original principal amount of its floating-rate convertible senior debentures due 2033. The debentures will accrete at a rate of 3.55175%, starting May 1.

The remarketing offering price was 100.05%.

Net proceeds of the remarketing will be paid to holders who elected to participate in the remarketing.

The next remarketing reset date is May 1, 2009.

Wells Fargo is a San Francisco-based diversified financial services company.

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