(BUSINESS WIRE)--Pfizer Inc. (NYSE: PFE) today announced that Wyeth LLC, its wholly-owned subsidiary, has notified The Bank of New York Mellon, as trustee under the applicable indenture, of its election to fully redeem all of its outstanding 5.500% Notes due March 15, 2013 (after giving effect to a December 4, 2003 upward interest rate adjustment of 0.25%) (CUSIP No. 983024AA8) (the “Notes”). The aggregate principal amount of Notes currently outstanding is $1.5 billion. The redemption date for the Notes will be December 26, 2012 (the “Redemption Date”).

The redemption price (“Redemption Price”) for the Notes will be a price equal to the greater of (i) 100% of the principal amount of the Notes, or (ii) the sum, as determined by the Quotation Agent (as defined in the Global Note, the form of which was filed with the Securities and Exchange Commission as part of Exhibit 4.4 to Wyeth’s Annual Report on Form 10-K for the fiscal year ended December 31, 2002 (File No. 001-01225) (the “Global Note”)), of the present value of the principal amount of the Notes and the remaining scheduled payments of interest on the Notes from the Redemption Date to the maturity date of the Notes, exclusive of interest accrued to the Redemption Date, discounted from their respective scheduled payment dates to the Redemption Date on a semiannual basis (assuming a 360-day year of twelve 30-day months) at the Treasury Rate (as defined in the Global Note) plus 25 basis points, in each case plus accrued and unpaid interest on the principal amount being redeemed to (but excluding) the Redemption Date.

On and after the Redemption Date, the Redemption Price will become due and payable in respect of the Notes, and interest on the Notes will cease to accrue on and after such date.

Notice of the redemption of the Notes (the “Notice of Redemption”) is expected to be mailed on November 26, 2012. The redemption will be effected in accordance with the applicable terms of the indenture under which the Notes were issued.

The paying agent for the redemption is The Bank of New York Mellon. The relevant contact information for The Bank of New York Mellon is set forth in the Notice of Redemption.

This announcement is neither an offer to sell nor a solicitation of an offer to buy any of the Notes and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.

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