Filed pursuant to Rule 433
Registration No. 333-188072
Issuer Free Writing Prospectus dated October 26, 2015
Relating to Preliminary Prospectus Supplement dated October 26, 2015
NIKE, Inc.
Pricing Term Sheet
| Issuer: | NIKE, Inc. | |
| Format: | SEC registered | |
| Title: | 3.875% Notes due 2045 | |
| Principal Amount: | $1,000,000,000 | |
| Maturity Date: | November 1, 2045 | |
| Coupon: | 3.875% | |
| Price to Public: | 99.070% | |
| Yield to Maturity: | 3.928% | |
| Spread to Benchmark Treasury: | T + 107 basis points | |
| Benchmark Treasury: | UST 3.000% due May 15, 2045 | |
| Benchmark Treasury Price and Yield: | 102-26; 2.858% | |
| Interest Payment Dates: | May 1 and November 1, beginning May 1, 2016 | |
| Make-Whole Call: | T + 20 basis points prior to May 1, 2045 | |
| Par Call: | On or after May 1, 2045 | |
| Trade Date: | October 26, 2015 | |
| Settlement Date: | October 29, 2015 (T+3) | |
| Expected Ratings*: | A1 / AA-, Moody’s / S&P | |
| CUSIP# / ISIN#: | 654106 AE3 / US654106AE35 | |
| Joint Book-Running Managers: | Citigroup Global Markets Inc. Deutsche Bank Securities Inc. Merrill Lynch, Pierce, Fenner & Smith Incorporated | |
| Co-Managers: | Goldman, Sachs & Co. J.P. Morgan Securities, LLC RBC Capital Markets, LLC Wells Fargo Securities, LLC Barclays Capital Inc. Credit Agricole Securities (USA) Inc. ING Financial Markets LLC Santander Investment Securities Inc. Standard Chartered Bank HSBC Securities (USA) Inc. |
| * | 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) and a preliminary prospectus supplement with the Securities and Exchange Commission (“SEC”) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement, the preliminary 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 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 and prospectus supplement if you request it by contacting Citigroup Global Markets Inc. toll-free at 1-800-831-9146, Deutsche Bank Securities Inc. toll-free at 1-800-503-4611 or Merrill Lynch, Pierce, Fenner & Smith Incorporated toll-free at 1-800-294-1322.