Texas Instruments (TXN) Prices $3B Notes Offering

Texas Instruments Incorporated (TI) (Nasdaq: TXN) today announced the pricing of five series of senior unsecured notes for an aggregate principal amount of $3.0 billion. The notes consist of the following:

• $650 million of 4.600% senior unsecured notes due February 8, 2027;
• $650 million of 4.600% senior unsecured notes due February 8, 2029;
• $600 million of 4.850% senior unsecured notes due February 8, 2034;
• $750 million of 5.150% senior unsecured notes due February 8, 2054; and
• $350 million of 5.050% senior unsecured notes due May 18, 2063.

The 5.050% notes due 2063 will be a further issuance of, and form a single series with, the $1.2 billion aggregate principal amount of the existing 5.050% notes due 2063 issued by TI on May 18, 2023. Each of the 4.600% notes due 2027, the 4.600% notes due 2029, the 4.850% notes due 2034 and the 5.150% notes due 2054 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 February 8, 2024.

BofA Securities, Inc.; Citigroup Global Markets Inc.; and Mizuho Securities USA LLC 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 BofA Securities, Inc., Attention: Prospectus Department, NC1-022-02-25, 201 North Tryon Street, Charlotte, North Carolina 28255, by phone: (800) 294-1322; Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by phone: (800) 831-9146; or Mizuho Securities USA LLC, Attention: Debt Capital Markets, 1271 Avenue of the Americas, New York, New York 10020, by phone: (866) 271-7403.

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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