| Free Writing Prospectus dated December 7, 2007 | Filed Pursuant to Rule 433(d) Registration Statement No. 333 - 132732 December 7, 2007 |
Diageo Capital plc
US$250,000,000 5.75% Notes due 2017
US$250,000,000 5.20% Notes due 2013
Guaranteed as to the payment of Principal and Interest by
Diageo plc
Final Term
Sheet
The 2017 Notes:
| Issuer: | Diageo Capital plc | |
| Guarantor: | Diageo plc | |
| Security: | 5.75% Notes due 2017 | |
| Format: | SEC Registered | |
| Face Amount: | U.S.$250,000,000 | |
| Net Proceeds: | U.S.$246,985,000 plus accrued interest of $1,836,805 | |
| Minimum Denomination: | U.S.$1,000 | |
| Day Count: | 30/360 | |
| Reoffer Price: | 99.074% | |
| Reoffer Yield: | 5.874% | |
| Coupon: | 5.75% | |
| Underlying Treasury: | 4.25% due November 2017 | |
| Treasury Yield: | 4.124% | |
| Spread: | 1.75% | |
| Settlement Date: | December 12, 2007 | |
| Maturity Date: | October 23, 2017 | |
| Interest Payment Dates: | April 23 and October 23, commencing April 23, 2008 | |
| Business Days: | New York/London | |
| Optional Make-Whole Redemption: | The greater of 100% of face amount or present value at a discount rate of Treasury plus 20 bps | |
| Use of Proceeds: | General corporate purposes | |
| Joint Bookrunners: | Goldman, Sachs & Co.; Morgan Stanley & Co. Incorporated | |
| Expected Rating: | Moodys: A3/S&P: A-/Fitch: A | |
| Expected Listing: | The Notes are a further issuance of 5.75% notes due 2017, which are listed on the New York Stock Exchange |
The 2013 Notes:
| Issuer: | Diageo Capital plc | |
| Guarantor: | Diageo plc | |
| Security: | 5.20% Notes due 2013 | |
| Format: | SEC Registered | |
| Face Amount: | U.S.$250,000,000 | |
| Net Proceeds: | U.S.$249,905,000 plus interest of $1,661,111 | |
| Minimum Denomination: | U.S.$1,000 | |
| Day Count: | 30/360 | |
| Reoffer Price: | 100.142% | |
| Reoffer Yield: | 5.161% | |
| Coupon: | 5.20% | |
| Underlying Treasury: | 3.375% due November 2012 | |
| Treasury Yield: | 3.511% | |
| Spread: | 1.65% | |
| Settlement Date: | December 12, 2007 | |
| Maturity Date: | January 30, 2013 | |
| Interest Payment Dates: | July 30 and January 30, commencing July 30, 2008 | |
| Optional Make-Whole Redemption: | The greater of 100% of face amount or present value at a discount rate of Treasury plus 15 bps | |
| Use of Proceeds: | General corporate purposes | |
| Joint Bookrunners: | Goldman, Sachs & Co.; Morgan Stanley & Co. Incorporated | |
| Expected Rating: | Moodys: A3/S&P: A-/Fitch: A | |
| Expected Listing: | The Notes are a further issuance of 5.20% notes due 2015, which are listed on the New York Stock Exchange |
This document includes disclosure about Diageo's debt rating. A security rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time by the assigning rating organisation. Each rating should be evaluated independently of any other rating.
Diageo 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 Diageo has filed with the SEC for more complete information about Diageo and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, Diageo, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Goldman, Sachs & Co. at 1-866-471-2526 or Morgan Stanley & Co. Incorporated at 1-866-718-1649.