NIKE (NKE) FWPFree writing prospectus

Issuer:

NIKE, Inc.

Format:

SEC Registered

Trade Date:

March 25, 2020

Settlement Date (T+2):

March 27, 2020

Expected Ratings*:

A1 /AA-, Moody’s / S&P

BofA Securities, Inc.

Citigroup Global Markets Inc.

Goldman Sachs & Co. LLC

J.P. Morgan Securities LLC.

RBC Capital Markets, LLC

Standard Chartered Bank

Academy Securities, Inc.

Loop Capital Markets LLC

Multi-Bank Securities, Inc.

Securities:

2.400% Notes Due 2025

Principal Amount:

$1,000,000,000

Maturity Date:

March 27, 2025

Coupon:

2.400%

Price to Public:

99.864%

Yield to Maturity:

2.429%

Spread to Benchmark Treasury:

T + 190 basis points

Benchmark Treasury:

UST 1.125% due February 28, 2025

Benchmark Treasury Price and Yield:

102-28^3/4 ; 0.529%

Interest Payment Dates:

March 27 and September 27, starting September 27, 2020

Make-Whole Call:

T + 30 basis points prior to February 27, 2025

Par Call:

On or after February 27, 2025

CUSIP# / ISIN#:

654106 AH6 / US654106AH65

Securities:

Principal Amount:

$1,000,000,000

Maturity Date:

March 27, 2027

Coupon:

2.750%

Price to Public:

99.987%

Yield to Maturity:

2.752%

Spread to Benchmark Treasury:

T + 200 basis points

Benchmark Treasury:

UST 1.125% due February 28, 2027

Benchmark Treasury Price and Yield:

102-16+ ; 0.752%

Interest Payment Dates:

March 27 and September 27, starting September 27, 2020

Make-Whole Call:

T + 30 basis points prior to January 27, 2027

Par Call:

On or after January 27, 2027

CUSIP# / ISIN#:

654106 AJ2 / US654106AJ22

Securities:

2.850% Notes Due 2030

Principal Amount:

$1,500,000,000

Maturity Date:

March 27, 2030

Coupon:

2.850%

Price to Public:

99.853%

Yield to Maturity:

2.867%

Spread to Benchmark Treasury:

T + 200 basis points

Benchmark Treasury:

UST 1.500% due February 15, 2030

Benchmark Treasury Price and Yield:

105-31+ ; 0.867%

Interest Payment Dates:

March 27 and September 27, starting September 27, 2020

Make-Whole Call:

T + 30 basis points prior to December 27, 2029

Par Call:

On or after December 27, 2029

CUSIP# / ISIN#:

654106 AK9 / US654106AK94

Securities:

3.250% Notes Due 2040

Principal Amount:

$1,000,000,000

Maturity Date:

March 27, 2040

Coupon:

3.250%

Price to Public:

99.374%

Yield to Maturity:

3.293%

Spread to Benchmark Treasury:

T + 180 basis points

Benchmark Treasury:

UST 2.375% due November 15, 2049

Benchmark Treasury Price and Yield:

121-02 ; 1.493%

Interest Payment Dates:

March 27 and September 27, starting September 27, 2020

Make-Whole Call:

T + 30 basis points prior to September 27, 2039

Par Call:

On or after September 27, 2039

CUSIP# / ISIN#:

654106 AL7 / US654106AL77

Securities:

3.375% Notes Due 2050

Principal Amount:

$1,500,000,000

Maturity Date:

March 27, 2050

Coupon:

3.375%

Price to Public:

99.663%

Yield to Maturity:

3.393%

Spread to Benchmark Treasury:

T + 190 basis points

Benchmark Treasury:

UST 2.375% due November 15, 2049

Benchmark Treasury Price and Yield:

121-02 ; 1.493%

Interest Payment Dates:

March 27 and September 27, starting September 27, 2020

Make-Whole Call:

T + 30 basis points prior to September 27, 2049

Par Call:

On or after September 27, 2049

CUSIP# / ISIN#:

654106 AM5 / US654106AM50