Pursuant to the authorization of the Board of Directors of Johnson & Johnson, a New Jersey corporation (the “Company”), in resolutions adopted on February 14, 2023, October 31, 2022 and April 25, 2024, the undersigned, being duly authorized, hereby approves the issuance of each of the series of Notes (as defined herein) of the Company, with the terms and provisions as described below, pursuant to and further subject to an Indenture (the “Indenture”) dated as of September 15, 1987, by and between the Company and The Bank of New York Mellon Trust Company, N.A. (as successor to BNY Midwest Trust Company, which succeeded Harris Trust and Savings Bank), as supplemented by the First Supplemental Indenture dated as of September 1, 1990 and the Second Supplemental Indenture dated as of November 9, 2017.
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TITLE OF SERIES: | | 3.200% Notes due 2032 (the “3.200% Notes”) |
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| | 3.350% Notes due 2036 (the “3.350% Notes”) |
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| | 3.550% Notes due 2044 (the “3.550% Notes,” and collectively with the 3.200% Notes and the 3.350% Notes, the “Notes”) |
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PRINCIPAL AMOUNT: | | €700,000,000 of the 3.200% Notes |
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| | €800,000,000 of the 3.350% Notes |
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| | €1,000,000,000 of the 3.550% Notes |
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INTEREST RATE: | | 3.200% per annum on the 3.200% Notes, payable annually on June 1 of each year, beginning June 1, 2024, to the holders of record at the close of business on the May 15 next preceding such interest payment date (or May 20, 2024, in the case of the first interest payment) |
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| | 3.350% per annum on the 3.350% Notes, payable annually on June 1 of each year, beginning June 1, 2024, to the holders of record at the close of business on the May 15 next preceding such interest payment date (or May 20, 2024, in the case of the first interest payment) |
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| | 3.550% per annum on the 3.550% Notes, payable annually on June 1 of each year, beginning June 1, 2024, to the holders of record at the close of business on the May 15 next preceding such interest payment date (or May 20, 2024, in the case of the first interest payment) |
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MATURITY DATE: | | June 1, 2032 for the 3.200% Notes, June 1, 2036 for the 3.350% Notes, and June 1, 2044 for the 3.550% Notes |
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PUBLIC OFFERING PRICE: | | 3.200% Notes: 99.932% of the principal amount plus accrued interest, if any, from May 20, 2024 to the date of closing |
| | 3.350% Notes: 99.826% of the principal amount plus accrued interest, if any, from May 20, 2024 to the date of closing |
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| | 3.550% Notes: 99.649% of the principal amount plus accrued interest, if any, from May 20, 2024 to the date of closing |
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PLAN OF DISTRIBUTION: | | A public offering underwritten by J.P. Morgan Securities plc; Citigroup Global Markets Limited; Deutsche Bank AG, London Branch; Merrill Lynch International; Goldman Sachs & Co. LLC; BNP Paribas; HSBC Bank plc; NatWest Markets Plc; RBC Europe Limited; Banco Santander, S.A.; ING Bank N.V., Belgian Branch; UBS AG London Branch; UniCredit Bank GmbH; Banco Bilbao Vizcaya Argentaria, S.A.; Intesa Sanpaolo IMI Securities Corp.; MUFG Securities EMEA plc; Standard Chartered Bank; Academy Securities, Inc.; R. Seelaus & Co., LLC; Samuel A. Ramirez & Company, Inc.; and Siebert Williams Shank & Co., LLC |