Filed Pursuant to Rule 433
Registration No. 333-228159
Issuer Free Writing Prospectus dated July 29, 2021
Relating to Preliminary Prospectus Supplement dated July 29, 2021
APPLE INC.
FINAL PRICING TERM SHEET
1.400% Notes due 2028 (“2028 Notes”)
Issuer: | Apple Inc. | |
Principal Amount: | $2,300,000,000 | |
Maturity: | August 5, 2028 | |
Coupon: | 1.400% | |
Price to Public: | 99.774% | |
Interest Payment Dates: | August 5 and February 5, commencing February 5, 2022 | |
Day Count Convention: | 30/360 | |
Benchmark Treasury: | 1.250% due June 30, 2028 | |
Benchmark Treasury Yield: | 1.034% | |
Spread to Benchmark Treasury: | 40 basis points | |
Yield: | 1.434% | |
Redemption: | Prior to June 5, 2028, Apple Inc. may at its option redeem the 2028 Notes, at any time in whole or from time to time in part, at a redemption price, calculated by Apple Inc., equal to the greater of (i) 100% of the principal amount of the 2028 Notes being redeemed; or (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the 2028 Notes being redeemed (assuming that such notes matured on June 5, 2028), exclusive of interest accrued to, but excluding, 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 2028 Notes) plus 10 basis points, plus, in each case, accrued and unpaid interest thereon to, but excluding, the date of redemption.
On or after June 5, 2028, Apple Inc. may at its option redeem the 2028 Notes, at any time in whole or from time to time in part, prior to their maturity, at a redemption price equal to 100% of the principal amount of the 2028 Notes being redeemed, plus accrued and unpaid interest thereon to, but excluding, the date of redemption. | |
Trade Date: | July 29, 2021 | |
Settlement Date: | August 5, 2021 (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 |
Net Proceeds: | Aggregate net proceeds from sale of all notes offered pursuant to this Pricing Term Sheet will be approximately $6.46 billion after deducting underwriting discounts and Apple’s offering expenses. | |
CUSIP/ISIN: | 037833 EH9 / US037833EH93 | |
Underwriters: | ||
Joint Book-Running Managers: | Goldman Sachs & Co. LLC BofA Securities, Inc. Barclays Capital Inc. Deutsche Bank Securities Inc. J.P. Morgan Securities LLC Morgan Stanley & Co. LLC | |
Co-Managers: | Wells Fargo Securities, LLC CastleOak Securities, L.P. Drexel Hamilton, LLC Great Pacific Securities Loop Capital Markets LLC R. Seelaus & Co., LLC Samuel A. Ramirez & Company, Inc. |
1.700% Notes due 2031 (“2031 Notes”)
Issuer: | Apple Inc. | |
Principal Amount: | $1,000,000,000 | |
Maturity: | August 5, 2031 | |
Coupon: | 1.700% | |
Price to Public: | 99.580% | |
Interest Payment Dates: | August 5 and February 5, commencing February 5, 2022 | |
Day Count Convention: | 30/360 | |
Benchmark Treasury: | 1.625% due May 15, 2031 | |
Benchmark Treasury Yield: | 1.276% | |
Spread to Benchmark Treasury: | 47 basis points | |
Yield: | 1.746% | |
Redemption: | Prior to May 5, 2031, Apple Inc. may at its option redeem the 2031 Notes, at any time in whole or from time to time in part, at a redemption price, calculated by Apple Inc., equal to the greater of (i) 100% of the principal amount of the 2031 Notes being redeemed; or (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the 2031 Notes being redeemed (assuming that such notes matured on May 5, 2031), exclusive of interest accrued to, but excluding, 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 2031 Notes) plus 10 basis points, plus, in each case, accrued and unpaid interest thereon to, but excluding, the date of redemption.
On or after May 5, 2031, Apple Inc. may at its option redeem the 2031 Notes, at any time in whole or from time to time in part, prior to their maturity, at a redemption price equal to 100% of the principal amount of the 2031 Notes being redeemed, plus accrued and unpaid interest thereon to, but excluding, the date of redemption. | |
Trade Date: | July 29, 2021 | |
Settlement Date: | August 5, 2021 (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 | |
Net Proceeds: | Aggregate net proceeds from sale of all notes offered pursuant to this Pricing Term Sheet will be approximately $6.46 billion after deducting underwriting discounts and Apple’s offering expenses. | |
CUSIP/ISIN: | 037833 EJ5 / US037833EJ59 |
Underwriters: | ||
Joint Book-Running Managers: | Goldman Sachs & Co. LLC BofA Securities, Inc. Barclays Capital Inc. Deutsche Bank Securities Inc. J.P. Morgan Securities LLC Morgan Stanley & Co. LLC | |
Co-Managers: | Wells Fargo Securities, LLC CastleOak Securities, L.P. Drexel Hamilton, LLC Great Pacific Securities Loop Capital Markets LLC R. Seelaus & Co., LLC Samuel A. Ramirez & Company, Inc. |
2.700% Notes due 2051 (“2051 Notes”)
Issuer: | Apple Inc. | |
Principal Amount: | $1,800,000,000 | |
Maturity: | August 5, 2051 | |
Coupon: | 2.700% | |
Price to Public: | 99.898% | |
Interest Payment Dates: | August 5 and February 5, commencing February 5, 2022 | |
Day Count Convention: | 30/360 | |
Benchmark Treasury: | 1.875% due February 15, 2051 | |
Benchmark Treasury Yield: | 1.935% | |
Spread to Benchmark Treasury: | 77 basis points | |
Yield: | 2.705% | |
Redemption: | Prior to February 5, 2051, Apple Inc. may at its option redeem the 2051 Notes, at any time in whole or from time to time in part, at a redemption price, calculated by Apple Inc., equal to the greater of (i) 100% of the principal amount of the 2051 Notes being redeemed; or (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the 2051 Notes being redeemed (assuming that such notes matured on February 5, 2051), exclusive of interest accrued to, but excluding, 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 2051 Notes) plus 12.5 basis points, plus, in each case, accrued and unpaid interest thereon to, but excluding, the date of redemption.
On or after February 5, 2051, Apple Inc. may at its option redeem the 2051 Notes, at any time in whole or from time to time in part, prior to their maturity, at a redemption price equal to 100% of the principal amount of the 2051 Notes being redeemed, plus accrued and unpaid interest thereon to, but excluding, the date of redemption. | |
Trade Date: | July 29, 2021 | |
Settlement Date: | August 5, 2021 (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 | |
Net Proceeds: | Aggregate net proceeds from sale of all notes offered pursuant to this Pricing Term Sheet will be approximately $6.46 billion after deducting underwriting discounts and Apple’s offering expenses. | |
CUSIP/ISIN: | 037833 EK2 / US037833EK23 |
Underwriters: | ||
Joint Book-Running Managers: | Goldman Sachs & Co. LLC BofA Securities, Inc. Barclays Capital Inc. Deutsche Bank Securities Inc. J.P. Morgan Securities LLC Morgan Stanley & Co. LLC | |
Co-Managers: | Wells Fargo Securities, LLC CastleOak Securities, L.P. Drexel Hamilton, LLC Great Pacific Securities Loop Capital Markets LLC R. Seelaus & Co., LLC Samuel A. Ramirez & Company, Inc. |
2.850% Notes due 2061 (“2061 Notes”)
Issuer: | Apple Inc. | |
Principal Amount: | $1,400,000,000 | |
Maturity: | August 5, 2061 | |
Coupon: | 2.850% | |
Price to Public: | 99.881% | |
Interest Payment Dates: | August 5 and February 5, commencing February 5, 2022 | |
Day Count Convention: | 30/360 | |
Benchmark Treasury: | 1.875% due February 15, 2051 | |
Benchmark Treasury Yield: | 1.935% | |
Spread to Benchmark Treasury: | 92 basis points | |
Yield: | 2.855% | |
Redemption: | Prior to February 5, 2061, Apple Inc. may at its option redeem the 2061 Notes, at any time in whole or from time to time in part, at a redemption price, calculated by Apple Inc., equal to the greater of (i) 100% of the principal amount of the 2061 Notes being redeemed; or (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the 2061 Notes being redeemed (assuming that such notes matured on February 5, 2061), exclusive of interest accrued to, but excluding, 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 2061 Notes) plus 15 basis points, plus, in each case, accrued and unpaid interest thereon to, but excluding, the date of redemption.
On or after February 5, 2061, Apple Inc. may at its option redeem the 2061 Notes, at any time in whole or from time to time in part, prior to their maturity, at a redemption price equal to 100% of the principal amount of the 2061 Notes being redeemed, plus accrued and unpaid interest thereon to, but excluding, the date of redemption. | |
Trade Date: | July 29, 2021 | |
Settlement Date: | August 5, 2021 (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 | |
Net Proceeds: | Aggregate net proceeds from sale of all notes offered pursuant to this Pricing Term Sheet will be approximately $6.46 billion after deducting underwriting discounts and Apple’s offering expenses. | |
CUSIP/ISIN: | 037833 EL0 / US037833EL06 |
Underwriters: | ||
Joint Book-Running Managers: | Goldman Sachs & Co. LLC BofA Securities, Inc. Barclays Capital Inc. Deutsche Bank Securities Inc. J.P. Morgan Securities LLC Morgan Stanley & Co. LLC | |
Co-Managers: | Wells Fargo Securities, LLC CastleOak Securities, L.P. Drexel Hamilton, LLC Great Pacific Securities Loop Capital Markets LLC R. Seelaus & Co., LLC Samuel A. Ramirez & Company, Inc. |
* | 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. |
Under Rule 15c6-1 of the Exchange Act, trades in the secondary market generally are required to settle in two business days, unless the parties to a trade expressly agree otherwise. Accordingly, purchasers who wish to trade notes prior to the second business day before the settlement date will be required, by virtue of the fact that the notes initially will settle in T+5, to specify alternative settlement arrangements to prevent a failed settlement.
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. LLC toll free at 1-866-471-2526, BofA Securities, Inc. at 1-800-294-1322, or Barclays Capital Inc. toll-free at 1-888-603-5847, or by contacting Apple Inc.’s Investor Relations at investor_relations@apple.com.
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