424B2 1 d424b2.htm PROSPECTUS SUPPLEMENT NUMBER 16 Prospectus Supplement Number 16

Filed Pursuant to Rule 424(b)(2)

File No. 333-135006

 

Title of Each Class of

Securities Offered      


   Maximum Aggregate
Offering Price

   Amount of
Registration Fee(1)

Medium Term Notes, Series G Floating Rate Notes

   $ 20,000,000    $ 786.00

 

(1)

 

The filing fee of $786.00 is calculated in accordance with Rule 457(r) of the Securities Act of 1933 (the “Securities Act”) and will be paid by wire transfer within the time required by Rule 456(b) of the Securities Act.


Pricing Supplement No. 16 dated August 22, 2008

(to Prospectus Supplement dated January 25, 2007

and Prospectus dated June 19, 2006)

WELLS FARGO & COMPANY

Medium-Term Notes, Series G

Floating Rate Notes

 

Aggregate Principal Amount Offered:   

$20,000,000

 

The notes will be a further issuance of, and form a single tranche with, the $300,000,000 aggregate principal amount of Floating Rate Notes and have the same terms as the other Floating Rate Notes of this tranche to be issued by Wells Fargo & Company on August 28, 2008 pursuant to Pricing Supplement No. 15 which, together with the Prospectus Supplement dated January 25, 2007 and the Prospectus dated June 19, 2006, was filed with the Securities and Exchange Commission on August 21, 2008. The notes will have the same CUSIP number as those other Floating Rate Notes, will trade interchangeably with those other Floating Rate Notes immediately upon settlement and will increase the aggregate principal amount of the tranche of the Floating Rate Notes to 320,000,000.

Trade Date:    August 22, 2008
Original Issue Date (T+4):    August 28, 2008
Stated Maturity Date:    August 29, 2011
Price to Public (Issue Price):    100%, plus accrued interest, if any, from August 28, 2008
Agent Discount (Gross Spread):    0.090%
All-In Price (Net of Agent Discount):    99.910%, plus accrued interest, if any, from August 28, 2008
Net Proceeds    $19,982,000
Benchmark:    Three-month LIBOR
Spread to Benchmark:    + 65 basis points
Base Rate:    LIBOR Reuters
Designated LIBOR Page:    Page LIBOR01 as displayed on the Reuters Money 3000 Service or any successor service (or such other page as may replace Page LIBOR01 on that service or successor service)

 

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Spread:    +65 basis points
Index Maturity:    Three months
Interest Reset Periods:    Quarterly
Interest Reset Dates:    Each February 28, May 28, August 28 and November 28, commencing November 28, 2008 and ending May 28, 2011
Interest Payment Dates:    Each February 28, May 28, August 28 and November 28, commencing November 28, 2008 and ending May 28, 2011, and at maturity
Initial Interest Rate:    Three-month LIBOR Reuters plus 0.65%, determined two London banking days prior to August 28, 2008
Certain U.S. Federal Income Tax Consequences:   

The Tax Increase Prevention and Reconciliation Act of 2005 extended the maximum 15% tax rate on long-term capital gains recognized by non-corporate U.S. Holders. Such holders in taxable years beginning before January 1, 2011 generally will be subject to tax at a maximum rate of 15%.

 

Pursuant to the U.S. Treasury regulations, the issuance of the notes will be treated as a “qualified reopening” of the Floating Rate Notes with an original issuance date of August 28, 2008 (the “Original Notes”). Therefore, for purposes of the rules governing original issue discount, the notes will have the same issue date, issue price and adjusted issue price as the Original Notes. See “Certain U.S. Federal Income Tax Considerations—U.S. Federal Income Taxation of U.S. Holders—Original Issue Discount” in the accompanying prospectus.

 

Additional tax considerations are discussed under “Certain U.S. Federal Income Tax Considerations” in the accompanying prospectus.

Listing    None

 

Agent:  

Agent

   Principal Amount
 

Morgan Stanley & Co. Incorporated

   $ 20,000,000
        
 

Total:

   $ 20,000,000

 

Plan of Distribution:    On August 22, 2008, Wells Fargo & Company agreed to sell to the Agent, and the Agent agreed to purchase, the notes at a purchase price of 99.910%. The purchase price equals the issue price of 100% less an underwriting discount of 0.090% of the principal amount of the notes.
CUSIP:    94974BES5

 

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