Filed Pursuant to Rule 433
Registration No. 333-157777
Medtronic, Inc.
Pricing Term Sheet
March 9, 2009
4.50% Senior Notes due 2014
5.60% Senior Notes due 2019
6.50% Senior Notes due 2039
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| Issuer: |
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Medtronic, Inc. |
| Ratings: |
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A1/AA- (Moody’s/S&P) |
| Trade Date: |
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March 9, 2009 |
| Settlement Date: |
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(T+3); March 12, 2009 |
| Denominations: |
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$2,000 x 1,000 |
| Joint-Bookrunners: |
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Deutsche Bank Securities Inc. and J.P. Morgan Securities Inc. |
| Co-Managers: |
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Banc of America Securities LLC; Mitsubishi UFJ Securities International plc; Goldman,
Sachs & Co.; UBS Securities LLC |
Principal Amount:
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US $550,000,000
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US $400,000,000
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US$300,000,000 |
Title:
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2014 Note
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2019 Note
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2039 Note |
Security Type:
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Senior Note
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Senior Note
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Senior Note |
Maturity:
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March 15, 2014
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March 15, 2019
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March 15, 2039 |
Coupon:
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4.50%
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5.60%
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6.50% |
Price to Public:
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100.000%
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99.931%
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99.750% |
Yield to Maturity:
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4.500%
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5.609%
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6.519% |
Spread to Benchmark Treasury:
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+262.5bps
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+275bps
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+295bps |
Benchmark Treasury:
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1.875% due Feb 28, 2014
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2.75% due Feb 15, 2019
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4.50% due May 15, 2038 |
Benchmark Treasury Spot and Yield:
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100-0 1.875%
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99-2 2.859%
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116-25+ 3.569% |
Interest Payment Dates:
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March 15 and September
15, commencing September
15, 2009
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March 15 and September
15, commencing September
15, 2009
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March 15 and September
15, commencing September
15, 2009 |
Make-Whole Call:
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T+40bps
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T+40bps
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T+45bps |
CUSIP:
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585055AP1
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585055AN6
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585055AQ9 |
ISIN:
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US585055AP13
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US585055AN64
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US585055AQ95 |
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 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
Deutsche Bank Securities Inc. at 1-800-503-4611 or J.P. Morgan Securities Inc. collect at
212-834-4533.
This pricing term sheet supplements the preliminary form of prospectus supplement issued by
Medtronic, Inc. on March 9, 2009 relating to their Prospectus dated March 9, 2009.
Any disclaimer or other notice that may appear below is not applicable to this communication and
should be disregarded. Such disclaimer or notice was automatically generated as a result of this
communication being sent by Bloomberg or another email system.