Johnson & Johnson
JOHNSON & JOHNSON (Form: FWP, Received: 11/09/2017 06:06:09)

Filed Pursuant to Rule 433

Registration No. 333-216285

November 8, 2017

Pricing Term Sheet

Johnson & Johnson

1.950% Notes due 2020

2.625% Notes due 2025

2.900% Notes due 2028

3.400% Notes due 2038

3.500% Notes due 2048

 

Issuer:   Johnson & Johnson  
Security:   1.950% Senior Unsecured Notes due 2020   2.625% Senior Unsecured Notes due 2025   2.900% Senior Unsecured Notes due 2028   3.400% Senior Unsecured Notes due 2038   3.500% Senior Unsecured Notes due 2048
Size:  

$500,000,000

 

$750,000,000

 

$1,500,000,000

 

$1,000,000,000

 

$750,000,000

Maturity Date:   November 10, 2020   January 15, 2025   January 15, 2028   January 15, 2038   January 15, 2048
Coupon:   1.950%   2.625%   2.900%   3.400%   3.500%
Interest Payment Dates:  

Paid semi-annually on November 10 and May 10, commencing May 10, 2018

 

Paid semi-annually on January 15 and July 15, commencing July 15, 2018

 

Paid semi-annually on January 15 and July 15, commencing

July 15, 2018

 

Paid semi-annually on January 15 and July 15, commencing July 15, 2018

 

Paid semi-annually on January 15 and July 15, commencing

July 15, 2018

Price to Public:   99.893%   99.983%   99.881%   99.703%   99.623%
Underwriting Discount:   0.150%   0.350%   0.400%   0.750%   0.750%
Benchmark Treasury:  

1.625% due October 15, 2020

 

2.250% due October 31, 2024

 

2.250% due August 15, 2027

 

3.000% due May 15, 2047

 

3.000% due May 15, 2047

Benchmark Treasury Price and Yield:  

99-20, 1.757%

 

100-11, 2.197%

 

99-09, 2.333%

 

104-06+, 2.790%

 

104-06+, 2.790%

Spread to Benchmark Treasury:  

23 bps

 

43 bps

 

58 bps

 

63 bps

 

73 bps

Yield:  

1.987%

 

2.627%

 

2.913%

 

3.420%

 

3.520%

Make-Whole Call:   Treasury +7.5 bps   Treasury +7.5 bps, prior to November 15, 2024   Treasury +10 bps, prior to October 15, 2027   Treasury +10 bps, prior to July 15, 2037   Treasury +15 bps, prior to July 15, 2047
Par Call:     Any time on or after November 15, 2024, at 100%   Any time on or after October 15, 2027, at 100%   Any time on or after July 15, 2037, at 100%   Any time on or after July 15, 2047, at 100%
Trade Date:   November 8, 2017   November 8, 2017   November 8, 2017   November 8, 2017   November 8, 2017
Expected Settlement Date:   November 10, 2017 (T+2)   November 10, 2017 (T+2)   November 10, 2017 (T+2)   November 10, 2017 (T+2)   November 10, 2017 (T+2)
CUSIP:  

478160 CH5

 

478160 CJ1

 

478160 CK8

 

478160 CL6

 

478160 CM4

ISIN:  

US478160CH52

 

US478160CJ19

 

US478160CK81

 

US478160CL64

 

US478160CM48

Expected Ratings:*   Aaa (stable) (Moody’s) / AAA (stable) (S&P)  
Joint Book-Running Managers:  

Goldman Sachs & Co. LLC

J.P. Morgan Securities LLC

Merrill Lynch, Pierce, Fenner & Smith

                     Incorporated

Citigroup Global Markets Inc.

Deutsche Bank Securities Inc.

 
Senior Co-Managers:  

BNP Paribas Securities Corp.

HSBC Securities (USA) Inc.

NatWest Markets

The Williams Capital Group, L.P.

 
Co-Managers:  

ING Financial Markets LLC

MUFG Securities Americas Inc.

RBC Capital Markets, LLC

Santander Investment Securities Inc.

UBS Securities LLC

UniCredit Capital Markets LLC

 

*            A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.

The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering.

You may obtain these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Goldman Sachs & Co. LLC toll-free at 1-866-471-2526, J.P. Morgan Securities LLC collect at 1-212-834-4533 or Merrill Lynch, Pierce, Fenner & Smith Incorporated toll-free at 1-800-294-1322.