FWP
 

Johnson & Johnson
PRICING TERM SHEET
5.150% Notes due 2012
     
Issuer:
  Johnson & Johnson
 
    
Security:
  5.150% Notes due 2012
 
    
Size:
  $600,000,000 
 
    
Maturity Date:
  August 15, 2012
 
    
Coupon:
  5.150% 
 
    
Interest Payment Dates:
  Paid semi-annually on February 15th and August 15th, commencing February 15, 2008
 
    
Price to Public:
  99.874% 
 
    
Benchmark Treasury:
  4.625% due July 31, 2012
 
    
Benchmark Treasury Yield:
  4.559% 
 
    
Spread to Benchmark Treasury:
  + 62 bp
 
    
Yield:
  5.179% 
 
    
Make-Whole Call:
  Treasury plus 10 bp
 
    
Expected Settlement Date:
  August 16, 2007
 
    
Anticipated Ratings:
  Aaa (stable) by Moody’s Investors Service, Inc.
 
  AAA (stable) by Standard & Poor’s Ratings Services
 
  AAA (stable) by Fitch Ratings
 
    
CUSIP
  478160AP9
 
    
Joint Book-Running Managers:
  Goldman, Sachs & Co.
 
  J.P. Morgan Securities Inc.
 
  Citigroup Global Markets Inc.
 
  Deutsche Bank Securities Inc.
 
    
Senior Co-Managers:
  Banc of America Securities LLC
 
  Morgan Stanley & Co. Incorporated
 
    
Co-Managers:
  BNP Paribas Securities Corp.
 
  Greenwich Capital Markets, Inc
 
  Mitsubishi UFJ Securities International plc
 
  RBC Capital Markets Corporation
 
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 Goldman, Sachs & Co. toll-free at 866-471-2526, J.P. Morgan Securities Inc. collect at 212-834-4533, Citigroup Global Markets Inc. toll-free at 877-858-5407 or Deutsche Bank Securities Inc. collect at 212-250-6801.

 

 

Johnson & Johnson

PRICING TERM SHEET
5.550% Notes due 2017
     
Issuer:
  Johnson & Johnson
 
    
Security:
  5.550% Notes due 2017
 
    
Size:
  $1,000,000,000 
 
    
Maturity Date:
  August 15, 2017
 
    
Coupon:
  5.550% 
 
    
Interest Payment Dates:
  Paid semi-annually on February 15th and August 15th, commencing February 15, 2008
 
    
Price to Public:
  100.000% 
 
    
Benchmark Treasury:
  4.750% due August 15, 2017
 
    
Benchmark Treasury Yield:
  4.780% 
 
    
Spread to Benchmark Treasury:
  + 77 bp
 
    
Yield:
  5.550% 
 
    
Make-Whole Call:
  Treasury plus 15 bp
 
    
Expected Settlement Date:
  August 16, 2007
 
    
Anticipated Ratings:
  Aaa (stable) by Moody’s Investors Service, Inc.
 
  AAA (stable) by Standard & Poor’s Ratings Services
 
  AAA (stable) by Fitch Ratings
 
    
CUSIP
  478160AQ7
 
    
Joint Book-Running Managers:
  Goldman, Sachs & Co.
 
  J.P. Morgan Securities Inc.
 
  Citigroup Global Markets Inc.
 
  Deutsche Bank Securities Inc.
 
    
Senior Co-Managers:
  Banc of America Securities LLC
 
  Morgan Stanley & Co. Incorporated
 
  The Williams Capital Group, L.P.
 
    
Co-Managers:
  BNP Paribas Securities Corp.
 
  Greenwich Capital Markets, Inc
 
  Mitsubishi UFJ Securities International plc
 
  RBC Capital Markets Corporation
 
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 Goldman, Sachs & Co. toll-free at 866-471-2526, J.P. Morgan Securities Inc. collect at 212-834-4533, Citigroup Global Markets Inc. toll-free at 877-858-5407 or Deutsche Bank Securities Inc. collect at 212-250-6801.

 

 

Johnson & Johnson
PRICING TERM SHEET
5.950% Notes due 2037
     
Issuer:
  Johnson & Johnson
 
    
Security:
  5.950% Notes due 2037
 
    
Size:
  $1,000,000,000 
 
    
Maturity Date:
  August 15, 2037
 
    
Coupon:
  5.950% 
 
    
Interest Payment Dates:
  Paid semi-annually on February 15th and August 15th, commencing February 15, 2008
 
    
Price to Public:
  99.488% 
 
    
Benchmark Treasury:
  4.750% due February 15, 2037
 
    
Benchmark Treasury Yield:
  5.027% 
 
    
Spread to Benchmark Treasury:
  + 96 bp
 
    
Yield:
  5.987% 
 
    
Make-Whole Call:
  Treasury plus 20 bp
 
    
Expected Settlement Date:
  August 16, 2007
 
    
Anticipated Ratings:
  Aaa (stable) by Moody’s Investors Service, Inc.
 
  AAA (stable) by Standard & Poor’s Ratings Services
 
  AAA (stable) by Fitch Ratings
 
    
CUSIP
  478160AN4
 
    
Joint Book-Running Managers:
  Goldman, Sachs & Co.
 
  J.P. Morgan Securities Inc.
 
  Citigroup Global Markets Inc.
 
  Deutsche Bank Securities Inc.
 
    
Senior Co-Managers:
  Banc of America Securities LLC
 
  Morgan Stanley & Co. Incorporated
 
  The Williams Capital Group, L.P.
 
    
Co-Managers:
  BNP Paribas Securities Corp.
 
  Greenwich Capital Markets, Inc
 
  Mitsubishi UFJ Securities International plc
 
  RBC Capital Markets Corporation
 
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 Goldman, Sachs & Co. toll-free at 866-471-2526, J.P. Morgan Securities Inc. collect at 212-834-4533, Citigroup Global Markets Inc. toll-free at 877-858-5407 or Deutsche Bank Securities Inc. collect at 212-250-6801.