Norfolk Southern Announces Private Exchange Offer (NSC)

Norfolk Southern Corporation NSC announced today the commencement of an offer to exchange any and all outstanding 7.90% Notes due 2097 for 5.30% Notes due 2040 and cash, upon the terms and subject to the conditions as set forth in an offering memorandum and a related letter of transmittal. The Exchange Offer is subject to certain conditions. The New Notes will be offered only to qualified institutional buyers and outside the United States pursuant to applicable exemptions from registration under the Securities Act of 1933, as amended. The New Notes will be unsecured obligations of Norfolk Southern and will rank pari passu with all other unsecured and unsubordinated indebtedness of Norfolk Southern.