Free Writing Prospectus

Filed Pursuant to Rule 433

Registration Statement No. 333-273745

November 13, 2024

 

GILEAD SCIENCES, INC.

 

 

PRICING TERM SHEET

4.80% SENIOR NOTES DUE 2029
5.10% SENIOR NOTES DUE 2035

5.50% SENIOR NOTES DUE 2054

5.60% SENIOR NOTES DUE 2064

 

Issuer:  

Gilead Sciences, Inc. (the “Company”)

 
Title of Security:

4.80% Senior Notes due 2029 (the “2029 Notes”)

5.10% Senior Notes due 2035 (the “2035 Notes”)

5.50% Senior Notes due 2054 (the “2054 Notes”)

5.60% Senior Notes due 2064 (the “2064 Notes”)

 
Principal Amount:

2029 Notes: $750,000,000

2035 Notes: $1,000,000,000

2054 Notes: $1,000,000,000

2064 Notes: $750,000,000

 
Trade Date:

November 13, 2024

 
Settlement Date:            

November 20, 2024 (T+5)

 

It is expected that delivery of the notes will be made against payment therefor on or about November 20, 2024, which is the fifth business day following the date of the pricing of the notes (T+5). Under Rule 15c6-1 of the Exchange Act, trades in the secondary market generally are required to settle in one business day unless the parties to that trade expressly agree otherwise. Accordingly, purchasers who wish to trade the notes on or after the date of pricing but prior to the closing date may be required, by virtue of the fact that the notes initially will settle in T+5, to specify an alternative settlement cycle at the time of any such trade to prevent failed settlement and should consult their own advisers.

 

 

 

 

Maturity Date:

2029 Notes: November 15, 2029

2035 Notes: June 15, 2035

2054 Notes: November 15, 2054

2064 Notes: November 15, 2064

 

Price to Public:

 

2029 Notes: 99.988% of the principal amount

2035 Notes: 99.599% of the principal amount

2054 Notes: 99.709% of the principal amount

2064 Notes: 99.290% of the principal amount
   
Yield to Maturity:

2029 Notes: 4.803%

2035 Notes: 5.149%

2054 Notes: 5.520%

2064 Notes: 5.649%

 

Spread to Benchmark Treasury:

 

2029 Notes: 50 basis points

2035 Notes: 70 basis points

2054 Notes: 87.5 basis points

2064 Notes: 100 basis points

 

Benchmark Treasury:

 

2029 Notes: 4.125% due October 31, 2029

2035 Notes: 4.250% due November 15, 2034

2054 Notes: 4.250% due August 15, 2054

2064 Notes: 4.250% due August 15, 2054

   
Benchmark Treasury Price / Yield:

2029 Notes: 99-06 ¾ / 4.303%

2035 Notes: 98-13 / 4.449%

2054 Notes: 93-21 / 4.645%

2064 Notes: 93-21 / 4.645%

 

Interest Payment Dates:  

 

2029 Notes: May 15 and November 15, commencing May 15, 2025

2035 Notes: June 15 and December 15, commencing June 15, 2025

2054 Notes: May 15 and November 15, commencing May 15, 2025

2064 Notes: May 15 and November 15, commencing May 15, 2025

 

Optional Redemption:  

Make-Whole Call:

 

2029 Notes: T+10 basis points, prior to October 15, 2029 (assuming the notes called for redemption matured on October 15, 2029)

2035 Notes: T+15 basis points, prior to March 15, 2035 (assuming the notes called for redemption matured on March 15, 2035)

2054 Notes: T+15 basis points, prior to May 15, 2054 (assuming the notes called for redemption matured on May 15, 2054)

2064 Notes: T+15 basis points, prior to May 15, 2064 (assuming the notes called for redemption matured on May 15, 2064)

 

Par Call:

 

2029 Notes: At 100%, on or after October 15, 2029

2035 Notes: At 100%, on or after March 15, 2035

2054 Notes: At 100%, on or after May 15, 2054

2064 Notes: At 100%, on or after May 15, 2064

 

 

 

 

CUSIP / ISIN:

2029 Notes: 375558 CB7 / US375558CB72

2035 Notes: 375558 CC5 / US375558CC55

2054 Notes: 375558 CD3 / US375558CD39

2064 Notes: 375558 CE1 / US375558CE12

 

Day Count Convention:

360-day year consisting of twelve 30-day months

 

Joint Book-Running Managers:

Barclays Capital Inc.

BofA Securities, Inc.

Citigroup Global Markets Inc.

Goldman Sachs & Co. LLC

HSBC Securities (USA) Inc.

J.P. Morgan Securities LLC

Mizuho Securities USA LLC

Morgan Stanley & Co. LLC

RBC Capital Markets, LLC

SG Americas Securities, LLC

TD Securities (USA) LLC

U.S. Bancorp Investments, Inc.

Wells Fargo Securities, LLC

 

Senior Co-Managers:

Blaylock Van, LLC

Siebert Williams Shank & Co., LLC

 

Junior Co-Managers:

American Veterans Group, PBC

Independence Point Securities LLC

Loop Capital Markets LLC

Samuel A. Ramirez & Company, Inc.

 

 

*      *      *

 

The issuer has filed a registration statement (including a prospectus) and a prospectus supplement with the 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 website 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 Barclays Capital Inc. toll-free at 1-888-603-5847 or calling BofA Securities, Inc. toll free at 1-800-294-1322.

 

This pricing term sheet supplements the Preliminary Prospectus Supplement filed by Gilead Sciences, Inc. on November 13, 2024 relating to its Prospectus dated August 4, 2023.

 

 

 

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