Filed Pursuant to Rule 433
Registration No. 333-188191
Issuer Free Writing Prospectus dated April 29, 2014
Relating to Preliminary Prospectus Supplement dated April 29, 2014
APPLE INC.
FINAL PRICING TERM SHEET
1.05% Notes due 2017 (“2017 Fixed Rate Notes”)
| Issuer: | Apple Inc. | |
| Principal Amount: | $1,500,000,000 | |
| Maturity: | May 5, 2017 | |
| Coupon: | 1.05% | |
| Price to Public: | 99.947% | |
| Interest Payment Dates: | May 6 and November 6, commencing November 6, 2014 | |
| Day Count Convention: | 30/360 | |
| Benchmark Treasury: | 0.875% due April 15, 2017 | |
| Benchmark Treasury Yield: | 0.888% | |
| Spread to Benchmark Treasury: | +18 basis points | |
| Yield: | 1.068% | |
| Redemption: | The 2017 Fixed Rate Notes will be redeemable, in whole or in part at any time, at Apple Inc.’s option, at a redemption price calculated by Apple Inc. equal to the greater of (i) 100% of the principal amount of the 2017 Fixed Rate Notes being redeemed or (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the notes to be redeemed (exclusive of interest accrued to the date of redemption) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at a rate equal to the sum of the applicable Treasury Rate (as defined in the 2017 Fixed Rate Notes) plus 5 basis points, plus, in each case, accrued and unpaid interest thereon to the date of redemption. | |
| Trade Date: | April 29, 2014 | |
| Settlement Date: | May 6, 2014 (T+5) | |
| Denominations: | $2,000 and any integral multiple of $1,000 in excess thereof | |
| Ratings: * | Aa1 (stable) by Moody’s Investors Service, Inc. AA+ (stable) by Standard & Poor’s Ratings Services | |
| CUSIP/ISIN: | 037833 AM2 / US037833AM25 | |
| Underwriters: | ||
| Joint Book-Running Managers: | Goldman, Sachs & Co. | |
| Deutsche Bank Securities Inc. | ||
| J.P. Morgan Securities LLC | ||
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | ||
| Co-Managers: | Barclays Capital Inc. | |
| Citigroup Global Markets Inc. Wells Fargo Securities, LLC |
Floating Rate Notes due 2017
| Issuer: | Apple Inc. | |
| Principal Amount: | $1,000,000,000 | |
| Maturity: | May 5, 2017 | |
| Spread to LIBOR: | +7 basis points | |
| Designated LIBOR Page: | Reuters Page LIBOR 01 | |
| Index Maturity: | 3 Months | |
| Interest Reset Period: | Quarterly | |
| Initial Interest Rate: | Three month LIBOR plus 7 bps, determined on the second London business day preceding to the scheduled closing date | |
| Price to Public: | 100.00% | |
| Interest Payment Dates: | February 6, May 6, August 6, November 6, commencing August 6, 2014 | |
| Day Count Convention: | The actual number of days in an interest period and a 360-day year | |
| Trade Date: | April 29, 2014 | |
| Settlement Date: | May 6, 2014 (T+5) | |
| Denominations: | $2,000 and any integral multiple of $1,000 in excess thereof | |
| Ratings: * | Aa1 (stable) by Moody’s Investors Service, Inc. AA+ (stable) by Standard & Poor’s Ratings Services | |
| CUSIP/ISIN: | 037833 AN0 / US037833AN08 | |
| Underwriters: | ||
| Joint Book-Running Managers: | Goldman, Sachs & Co. | |
| Deutsche Bank Securities Inc. | ||
| J.P. Morgan Securities LLC | ||
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | ||
| Co-Managers: | Barclays Capital Inc. | |
| Citigroup Global Markets Inc. Wells Fargo Securities, LLC |
2.10% Notes due 2019 (“2019 Fixed Rate Notes”)
| Issuer: | Apple Inc. | |
| Principal Amount: | $2,000,000,000 | |
| Maturity: | May 6, 2019 | |
| Coupon: | 2.10% | |
| Price to Public: | 99.962% | |
| Interest Payment Dates: | May 6 and November 6, commencing November 6, 2014 | |
| Day Count Convention: | 30/360 | |
| Benchmark Treasury: | 1.625% due April 30, 2019 | |
| Benchmark Treasury Yield: | 1.733% | |
| Spread to Benchmark Treasury: | + 37.5 basis points | |
| Yield: | 2.108% | |
| Redemption: | The 2019 Fixed Rate Notes will be redeemable, in whole or in part at any time, at Apple Inc.’s option, at a redemption price calculated by Apple Inc. equal to the greater of (i) 100% of the principal amount of the 2019 Fixed Rate Notes being redeemed or (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the notes to be redeemed (exclusive of interest accrued to the date of redemption) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at a rate equal to the sum of the applicable Treasury Rate (as defined in the 2019 Fixed Rate Notes) plus 10 basis points, plus, in each case, accrued and unpaid interest thereon to the date of redemption. | |
| Trade Date: | April 29, 2014 | |
| Settlement Date: | May 6, 2014 (T+5) | |
| Denominations: | $2,000 and any integral multiple of $1,000 in excess thereof | |
| Ratings: * | Aa1 (stable) by Moody’s Investors Service, Inc. AA+ (stable) by Standard & Poor’s Ratings Services | |
| CUSIP/ISIN: | 037833 AQ3 / US037833AQ39 | |
| Underwriters: | ||
| Joint Book-Running Managers: | Goldman, Sachs & Co. | |
| Deutsche Bank Securities Inc. | ||
| J.P. Morgan Securities LLC | ||
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | ||
| Co-Managers: | Barclays Capital Inc. | |
| Citigroup Global Markets Inc. Wells Fargo Securities, LLC |
Floating Rate Notes due 2019
| Issuer: | Apple Inc. | |
| Principal Amount: | $1,000,000,000 | |
| Maturity: | May 6, 2019 | |
| Spread to LIBOR: | + 30 basis points | |
| Designated LIBOR Page: | Reuters Page LIBOR 01 | |
| Index Maturity: | 3 Months | |
| Interest Reset Period: | Quarterly | |
| Initial Interest Rate: | Three month LIBOR plus 30 bps, determined on the second London business day preceding to the scheduled closing date | |
| Price to Public: | 100.00% | |
| Interest Payment Dates: | February 6, May 6, August 6, November 6, commencing August 6, 2014 | |
| Day Count Convention: | The actual number of days in an interest period and a 360-day year | |
| Trade Date: | April 29, 2014 | |
| Settlement Date: | May 6, 2014 (T+5) | |
| Denominations: | $2,000 and any integral multiple of $1,000 in excess thereof | |
| Ratings: * | Aa1 (stable) by Moody’s Investors Service, Inc. AA+ (stable) by Standard & Poor’s Ratings Services | |
| CUSIP/ISIN: | 037833 AP5 / US037833AP55 | |
| Underwriters: | ||
| Joint Book-Running Managers: | Goldman, Sachs & Co. | |
| Deutsche Bank Securities Inc. | ||
| J.P. Morgan Securities LLC | ||
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | ||
| Co-Managers: | Barclays Capital Inc. | |
| Citigroup Global Markets Inc. Wells Fargo Securities, LLC |
2.85% Notes due 2021 (“2021 Notes”)
| Issuer: | Apple Inc. | |
| Principal Amount: | $3,000,000,000 | |
| Maturity: | May 6, 2021 | |
| Coupon: | 2.85% | |
| Price to Public: | 99.754% | |
| Interest Payment Dates: | May 6 and November 6, commencing November 6, 2014 | |
| Day Count Convention: | 30/360 | |
| Benchmark Treasury: | 2.250% due April 30, 2021 | |
| Benchmark Treasury Yield: | 2.289% | |
| Spread to Benchmark Treasury: | + 60 basis points | |
| Yield: | 2.889% | |
| Redemption: | The 2021 Notes will be redeemable, in whole or in part at any time, at Apple Inc.’s option, at a redemption price calculated by Apple Inc. equal to the greater of (i) 100% of the principal amount of the 2021 Notes being redeemed or (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the notes to be redeemed (exclusive of interest accrued to the date of redemption) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at a rate equal to the sum of the applicable Treasury Rate (as defined in the 2021 Notes) plus 10 basis points, plus, in each case, accrued and unpaid interest thereon to the date of redemption. | |
| Trade Date: | April 29, 2014 | |
| Settlement Date: | May 6, 2014 (T+5) | |
| Denominations: | $2,000 and any integral multiple of $1,000 in excess thereof | |
| Ratings: * | Aa1 (stable) by Moody’s Investors Service, Inc.
AA+ (stable) by Standard & Poor’s Ratings Services | |
| CUSIP/ISIN: | 037833 AR1 / US037833AR12 | |
| Underwriters: | ||
| Joint Book-Running Managers: | Goldman, Sachs & Co. | |
| Deutsche Bank Securities Inc. | ||
| J.P. Morgan Securities LLC | ||
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | ||
| Co-Managers: | Barclays Capital Inc. | |
| Citigroup Global Markets Inc. Wells Fargo Securities, LLC |
3.45% Notes due 2024 (“2024 Notes”)
| Issuer: | Apple Inc. | |
| Principal Amount: | $2,500,000,000 | |
| Maturity: | May 6, 2024 | |
| Coupon: | 3.45% | |
| Price to Public: | 99.916% | |
| Interest Payment Dates: | May 6 and November 6, commencing November 6, 2014 | |
| Day Count Convention: | 30/360 | |
| Benchmark Treasury: | 2.750% due February 15, 2024 | |
| Benchmark Treasury Yield: | 2.690% | |
| Spread to Benchmark Treasury: | + 77 basis points | |
| Yield: | 3.46% | |
| Redemption: | The 2024 Notes will be redeemable, in whole or in part at any time, at Apple Inc.’s option, at a redemption price calculated by Apple Inc. equal to the greater of (i) 100% of the principal amount of the 2024 Notes being redeemed or (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the notes to be redeemed (exclusive of interest accrued to the date of redemption) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at a rate equal to the sum of the applicable Treasury Rate (as defined in the 2024 Notes) plus 15 basis points, plus, in each case, accrued and unpaid interest thereon to the date of redemption. | |
| Trade Date: | April 29, 2014 | |
| Settlement Date: | May 6, 2014 (T+5) | |
| Denominations: | $2,000 and any integral multiple of $1,000 in excess thereof | |
| Ratings: * | Aa1 (stable) by Moody’s Investors Service, Inc. AA+ (stable) by Standard & Poor’s Ratings Services | |
| CUSIP/ISIN: | 037833 AS9 / US037833AS94 | |
| Underwriters: | ||
| Joint Book-Running Managers: | Goldman, Sachs & Co. | |
| Deutsche Bank Securities Inc. | ||
| J.P. Morgan Securities LLC | ||
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | ||
| Co-Managers: | Barclays Capital Inc. | |
| Citigroup Global Markets Inc. Wells Fargo Securities, LLC |
4.45% Notes due 2044 (“2044 Notes”)
| Issuer: | Apple Inc. | |
| Principal Amount: | $1,000,000,000 | |
| Maturity: | May 6, 2044 | |
| Coupon: | 4.45% | |
| Price to Public: | 99.459% | |
| Interest Payment Dates: | May 6 and November 6, commencing November 6, 2014 | |
| Day Count Convention: | 30/360 | |
| Benchmark Treasury: | 3.750% due November 15, 2043 | |
| Benchmark Treasury Yield: | 3.483% | |
| Spread to Benchmark Treasury: | + 100 basis points | |
| Yield: | 4.483% | |
| Redemption: | The 2044 Notes will be redeemable, in whole or in part at any time, at Apple Inc.’s option, at a redemption price calculated by Apple Inc. equal to the greater of (i) 100% of the principal amount of the 2044 Notes being redeemed or (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the notes to be redeemed (exclusive of interest accrued to the date of redemption) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at a rate equal to the sum of the applicable Treasury Rate (as defined in the 2044 Notes) plus 15 basis points, plus, in each case, accrued and unpaid interest thereon to the date of redemption. | |
| Trade Date: | April 29, 2014 | |
| Settlement Date: | May 6, 2014 (T+5) | |
| Denominations: | $2,000 and any integral multiple of $1,000 in excess thereof | |
| Ratings: * | Aa1 (stable) by Moody’s Investors Service, Inc. AA+ (stable) by Standard & Poor’s Ratings Services | |
| CUSIP/ISIN: | 037833 AT7 / US037833AT77 | |
| Underwriters: | ||
| Joint Book-Running Managers: | Goldman, Sachs & Co. | |
| Deutsche Bank Securities Inc. | ||
| J.P. Morgan Securities LLC | ||
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | ||
| Co-Managers: | Barclays Capital Inc. | |
| Citigroup Global Markets Inc. Wells Fargo Securities, LLC |
| * | 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) and a prospectus supplement with the Securities and Exchange Commission (“SEC”) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement, the prospectus supplement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get 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 and prospectus supplement if you request it by calling Goldman, Sachs & Co. toll free at 1-866-471-2526, Deutsche Bank Securities Inc. toll free at 1-800-503-4611, or by contacting Apple Inc.’s Investor Relations at http://investor.apple.com/contactUs.cfm.
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