-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, HLkyNZLtOzTjHCrfzkjjuU2d2q8AigMQTHADbEaeJWwgyocXxH5/gxqS+wtBs4T4 MNlEXIxO9Iuj9CoRH4qsQQ== 0001047469-10-003070.txt : 20100331 0001047469-10-003070.hdr.sgml : 20100331 20100331165935 ACCESSION NUMBER: 0001047469-10-003070 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20100331 DATE AS OF CHANGE: 20100331 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: NATIONAL SEMICONDUCTOR CORP CENTRAL INDEX KEY: 0000070530 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] IRS NUMBER: 952095071 STATE OF INCORPORATION: DE FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-165803 FILM NUMBER: 10720071 BUSINESS ADDRESS: STREET 1: 2900 SEMICONDUCTOR DR STREET 2: PO BOX 58090 CITY: SANTA CLARA STATE: CA ZIP: 95052-8090 BUSINESS PHONE: 4087215000 MAIL ADDRESS: STREET 1: 2900 SEMICONDUCTOR DR CITY: SANTA CLARA STATE: CA ZIP: 95052-8090 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: NATIONAL SEMICONDUCTOR CORP CENTRAL INDEX KEY: 0000070530 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] IRS NUMBER: 952095071 STATE OF INCORPORATION: DE FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: 2900 SEMICONDUCTOR DR STREET 2: PO BOX 58090 CITY: SANTA CLARA STATE: CA ZIP: 95052-8090 BUSINESS PHONE: 4087215000 MAIL ADDRESS: STREET 1: 2900 SEMICONDUCTOR DR CITY: SANTA CLARA STATE: CA ZIP: 95052-8090 FWP 1 a2197788zfwp.htm FWP

Filed Pursuant to Rule 433
Registration No. 333-165803
Pricing Term Sheet
March 31, 2010

National Semiconductor Corporation

$250,000,000 3.950% Senior Notes due 2015


Pricing Term Sheet

Issuer:   National Semiconductor Corporation (the "Issuer")

Security:
 
3.950% Senior Notes due 2015 (the "Notes")

Note Type:
 
Senior Unsecured

Ratings:
 
Baa1 (Stable) by Moody's Investor Service, Inc.

 
 
BB+ (Positive) by Standard & Poor's Ratings Services

 
 
BBB (Stable) by Fitch, Inc.

Offering Size:
 
$250,000,000

Maturity:
 
April 15, 2015

Trade Date:
 
March 31, 2010

Coupon:
 
3.950% per annum

Yield to Maturity:
 
4.200%

Spread to Benchmark Treasury:
 
T + 165 basis points

Benchmark Treasury:
 
2.500% due March 2015

Benchmark Treasury Price & Yield:
 
Price: 99-24+

 
 
Yield: 2.550%

Denominations:
 
Minimum of $2,000 and integral multiples of $1,000 thereof

Interest Payment Dates:
 
April 15th and October 15th of each year, beginning on October 15, 2010

Redemption Provisions:
Optional Redemption
 
Make-whole call at any time at 100% of discounted present value at Treasury Rate plus 25 basis points

Use of Proceeds:
 
Repayment of debt & general corporate purposes

Change of Control Repurchase:
 
Upon the occurrence of a change of control triggering event (which involves the occurrence of both a change of control and a below investment grade rating of the notes by Moody's and S&P), the issuer will be required to make an offer to purchase the notes at a price equal to 101% of the principal amount plus accrued and unpaid interest to the date of repurchase

Sole Bookrunning Manager:
 
Goldman, Sachs & Co.

Price to Public (Issue Price):
 
98.877% plus accrued interest, if any, from April 6, 2010

Settlement Date:
 
April 6, 2010

CUSIP / ISIN Number:
 
637640 AF0 / US637640 AF08

National 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 National has filed with the SEC for more complete information about the Issuer and this offering. You should rely only on the prospectus, prospectus supplement and any relevant free writing prospectus or pricing supplement for complete details. You may get these documents for free by visiting the SEC Web site at www.sec.gov. Copies of the prospectus and the prospectus supplement may be obtained from Goldman, Sachs & Co., Prospectus Department, by calling 866-471-2526.

The security ratings above are not a recommendation to buy, sell or hold the securities offered hereby. The ratings may be subject to revision or withdrawal at any time by Moody's, Standard and Poor's and Fitch. Each of the security ratings above should be evaluated independently of any other security rating.


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