NORWEST CORP
424B2, 1995-01-11
NATIONAL COMMERCIAL BANKS
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<PAGE>
 
Pricing Supplement No. 4                       Rule 424(b)(2)

Dated: January 10, 1995                        Registration No. 33-55429


(To Prospectus Dated November 8, 1994, as Supplemented by Prospectus Supplement
Dated November 15, 1994)

                              NORWEST CORPORATION

                         Medium-Term Notes, Series E 

                               Fixed Rate Notes

         Interest payable each January 18 and July 18 and at Maturity

<TABLE> 
<CAPTION> 

 Aggregate
 Principal      Proceeds       Date of     Maturity      Interest      
  Amount       to Company       Issue        Date          Rate        Agent
-----------    -----------     -------    ----------     --------   ------------
<S>            <C>             <C>        <C>            <C>        <C> 
$25,000,000    $25,000,000     1/18/95    1/18/2000*      8.670%    Smith Barney
-----------    -----------     -------    ----------     --------   ------------

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</TABLE> 
--------------------------------------------------------------------------------
Other Terms:  Cusip #66938FHS6;  *Callable at the issuer's option at par in 
whole or in part beginning on January 21, 1997 or on any coupon day thereafter 
up to, but not including, the maturity date.
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