<PAGE>
Pricing Supplement No. 1 Rule 424(b)(2)
Dated: March 21, 1995 Registration No. 33-55429
(To Prospectus Dated November 8, 1994, as Supplemented by Prospectus Supplement
Dated February 17, 1995)
NORWEST CORPORATION
Medium-Term Notes, Series F
Fixed Rate Notes
Interest payable each March 15 and September 15 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>
$100,000,000 $99,538,000 3/28/95 3/15/05 7.650% Morgan Stanley & Co.
- ------------ ------------ ------- -------- -------- --------------------------
- ------------ ------------ ------- -------- -------- --------------------------
- ------------ ------------ ------- -------- -------- --------------------------
- ------------ ------------ ------- -------- -------- --------------------------
- ------------ ------------ ------- -------- -------- --------------------------
- ------------ ------------ ------- -------- -------- --------------------------
- ------------ ------------ ------- -------- -------- --------------------------
- ------------ ------------ ------- -------- -------- --------------------------
- ------------ ------------ ------- -------- -------- --------------------------
- ------------ ------------ ------- -------- -------- --------------------------
- ------------ ------------ ------- -------- -------- --------------------------
- --------------------------------------------------------------------------------------------
Other Terms: Cusip #66938FHY3
- --------------------------------------------------------------------------------------------
</TABLE>