diff --git a/bundle.c b/bundle.c
index 8d12816b9d..65db53b6cb 100644
--- a/bundle.c
+++ b/bundle.c
@@ -188,10 +188,10 @@ int verify_bundle(struct bundle_header *header, int verbose)
 			     r->nr),
 			  r->nr);
 		list_refs(r, 0, NULL);
+		r = &header->prerequisites;
 		if (!r->nr) {
 			printf_ln(_("The bundle records a complete history."));
 		} else {
-			r = &header->prerequisites;
 			printf_ln(Q_("The bundle requires this ref",
 				     "The bundle requires these %d refs",
 				     r->nr),