Texas Instruments (TXN) Prices $1.6B Notes Offering

Texas Instruments Incorporated (TI) (Nasdaq: TXN) today announced the pricing of three series of senior unsecured notes for an aggregate principal amount of $1.6 billion. The notes consist of the following:

• $200 million of 4.600% senior unsecured notes due February 15, 2028;
• $200 million of 4.900% senior unsecured notes due March 14, 2033; and
• $1.2 billion of 5.050% senior unsecured notes due May 18, 2063.

The 4.600% notes due 2028 and the 4.900% notes due 2033 will be a further issuance of, and form a single series with, the $500 million aggregate principal amount of the existing 4.600% notes due 2028 issued by TI on November 18, 2022, and the $750 million aggregate principal amount of the existing 4.900% notes due 2033 issued by TI on March 14, 2023, respectively. The 5.050% notes due 2063 will be a new issuance.

TI expects to use the net proceeds of this offering for general corporate purposes. The offering is expected to close on May 18, 2023.

J.P. Morgan Securities LLC; Morgan Stanley & Co. LLC; and U.S. Bancorp Investments, Inc. are serving as joint book-running managers for the offering.

The offering of the notes is made only by means of a prospectus and a related prospectus supplement, copies of which may be obtained for free by visiting EDGAR on the Securities and Exchange Commission website at www.sec.gov or, in the alternative, from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, New York 11717, by phone: (866) 803-9204; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, by phone: (866) 718-1649; or U.S. Bancorp Investments, Inc., 214 N. Tryon Street, 26th Floor, Charlotte, North Carolina 28202, by phone: (877) 558-2607.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the notes or any other securities, nor will there be any sale of the notes or any other securities in any state or jurisdiction in which such an offer, solicitation or sale is not permitted.

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