Free Writing Prospectus

Issuer Free Writing Prospectus

Filed Pursuant to Rule 433

Registration Statement No. 333-194146

May 11, 2016

Pricing Term Sheet

Johnson & Johnson

0.250% Notes due 2022

0.650% Notes due 2024

1.150% Notes due 2028

1.650% Notes due 2035

 

Issuer:   Johnson & Johnson
Trade Date:   May 11, 2016
Expected Settlement Date:   May 20, 2016 (T+7)
Expected Ratings of the Notes:*   Aaa Moody’s / AAA S&P (stable outlook at each rating agency)
Format:   SEC Registered
Security:   0.250% Notes due
2022
   0.650% Notes due
2024
   1.150% Notes due
2028
   1.650% Notes due
2035
Size:   €1,000,000,000    €750,000,000    €750,000,000    €1,500,000,000
Maturity Date:   January 20, 2022    May 20, 2024    November 20, 2028    May 20, 2035
Coupon:   0.250%    0.650%    1.150%    1.650%
Interest Payment Date:  

January 20, beginning on January 20, 2017

(short first)

   May 20, beginning on May 20, 2017   

November 20, beginning on November 20, 2016

(short first)

   May 20, beginning on May 20, 2017
Price to Public:   99.938%    99.736%    99.355%    99.467%
Underwriting Discount:   0.350%    0.400%    0.500%    0.625%
Spread to Mid-Swap:   20 bps    37 bps    47 bps    67 bps
Mid-Swap Rate:   0.061%    0.314%    0.736%    1.013%
Yield to Maturity:   0.261%    0.684%    1.206%    1.683%
Benchmark Security:  

DBR 2.000% due

January 4, 2022

  

DBR 1.500% due

May 15, 2024

  

DBR 0.500% due

February 15, 2026

  

DBR 4.750% due

July 4, 2034

Benchmark Security Price and Yield:   €113.325 / -0.344%    €113.020 / -0.118%    €103.620 / 0.127%    €172.400 / 0.547%
Spread to Benchmark Security:   59.5 bps    80.2 bps    107.9 bps    113.6 bps
Make-Whole Call:   Comparable Government Bond Rate plus 10 bps    Comparable Government Bond Rate plus 15 bps   

Comparable Government Bond

Rate plus 20 bps

   Comparable Government Bond Rate plus 20 bps
Par Call:   Any time on or after December 20, 2021    Any time on or after February 20, 2024    Any time on or after August 20, 2028    Any time on or after February 20, 2035
Tax Redemption:   Par call upon the occurrence of specified tax events described under the heading “Description of the Notes—Redemption for Tax Reasons” in the prospectus supplement
Expected Listing:   NYSE
Governing Law:   New York
Day Count Convention:   ACTUAL/ACTUAL (ICMA)
Denominations:   €100,000 and integral multiples of €1,000 in excess thereof
Stabilization:   Stabilization/FCA
Common Code:   141153528    141153579    141226681    141226690
CUSIP:   478160 BZ6    478160 CA0    478160 CB8    478160 CC6
ISIN:   XS1411535286    XS1411535799    XS1412266816    XS1412266907
Active Book-Runners:  

Deutsche Bank AG, London Branch

Merrill Lynch International

Citigroup Global Markets Limited

Goldman, Sachs & Co.

J.P. Morgan Securities plc


Senior Co-Managers:  

BNP Paribas

HSBC Bank plc

The Royal Bank of Scotland plc

     
Co-Managers:  

Banco Santander, S.A.

ING Bank N.V., Belgian Branch

Mitsubishi UFJ Securities International plc

RBC Europe Limited

UBS Limited

UniCredit Bank AG

The Williams Capital Group, L.P.

     

 

* Note: 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 Deutsche Bank AG, London Branch toll-free at 1-800-503-4611; Merrill Lynch International toll-free at 1-800-294-1322; Citigroup Global Markets Limited toll-free at 1-800-831-9146; Goldman, Sachs & Co. toll-free at 1-866-471-2526; or J.P. Morgan Securities plc collect at +44 (0)207-134-2468.

 

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