FORM FWP
Free Writing Prospectus
Filed Pursuant to Rule 433
Registration Statement No. 333-141075
Dated March 3, 2009
Eli Lilly and Company
Pricing Term Sheet
3.550% Notes due 2012
4.200% Notes due 2014
5.950% Notes due 2037
             
Issuer:
  Eli Lilly and Company        
 
            
Size:
  $1,000,000,000   $1,000,000,000   $400,000,000
 
            
Maturity:
  March 6, 2012   March 6, 2014   November 15, 2037
 
            
Coupon:
  3.550% per year   4.200% per year   5.950% per year
 
            
Price:
  99.898% of principal amount   99.955% of principal amount   99.019% of principal amount
 
            
Yield to maturity:
  3.586%   4.210%   6.023%
 
            
Spread to Benchmark Treasury:
  2.300%   2.375%   2.400%
 
            
Benchmark Treasury:
  1.375% due 02/15/2012   1.875% due 02/28/2014   4.500% due 05/15/2038
 
            
Benchmark Treasury Price and Yield:
  100-081/4 1.286%   100-06 1.835%   115-23 3.623%
 
            
Interest Payment Dates:
  March 6 and September 6, commencing September 6, 2009   March 6 and September 6, commencing September 6, 2009   May 15 and November 15, commencing May 15, 2009
 
            
Redemption Provisions:
            
             Make-whole call
  Make-whole plus 35 bps   Make-whole plus 35 bps   Make-whole plus 35 bps
 
            
CUSIP:
  532457 BD9   532457 BE7   532457 BC1
 
            
Settlement:
  T+3 (March 6, 2009)        
 
            
Ratings:
  Moody’s: A1 (stable)
Standard & Poor’s: AA (stable)		        
 
            
Denominations:
  $2,000 x $1,000        
 
            
Joint Book-Running Managers:   Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., UBS Securities LLC, Banc of America Securities LLC, Citigroup Global Markets Inc.
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 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 if you request it by calling Credit Suisse Securities (USA) LLC toll free at 1-800-221-1037, Deutsche Bank Securities Inc. toll free at 1-800-503-4611 or UBS Securities LLC toll free at 1-877-827-6444 (ext. 561-3884).