GlaxoSmithKline PLC — Capital/Financing Update 2018

May 18, 2018

FINAL TERMS

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17 May 2018

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$(a)$

Issuer:

GlaxoSmithKline Capital plc

Issue of EUR750,000,000 Floating Rate Notes due 21 May 2020

Guaranteed by GlaxoSmithKline pic

under the £15,000,000,000 Euro Medium Term Note Programme

PART A - CONTRACTUAL TERMS

Terms used herein shall be deemed to be defined as such for the purposes of the Conditions set forth in the Prospectus dated $3^{rd}$ August, 2017 and the supplement dated 11 May 2018 which together constitute a base prospectus for the purposes of the Prospectus Directive (the "Prospectus"). This document constitutes the Final Terms of the Notes described herein for the purposes of Article 5.4 of the Prospectus Directive and must be read in conjunction with the Prospectus. Full information on the Issuer, the Guarantor and the offer of the Notes is only available on the basis of the combination of these Final Terms and the Prospectus. Copies of such Prospectus are available for viewing and may be obtained from the registered office of the Issuer at 980 Great West Road. Brentford, Middlesex TW8 9GS, U.K. and the Prospectus has been published on the following website: www.londonstockexchange.com/exchange/news/market-news/market-news-home.html.

The expression Prospectus Directive means Directive 2003/71/EC (as amended, including by Directive 2010/73/EU), and includes any relevant implementing measure in the Relevant Member State.

GlaxoSmithKline Capital plc $(b)$ Guarantor: GlaxoSmithKline plc $\overline{2}$ . Series Number: $(a)$ 21 $(b)$ Tranche Number: $\mathbf{1}$ $\left( c \right)$ Date on which the Notes shall Not Applicable be consolidated and form a single series: 3. Specified Currency or Currencies: Euro (EUR) $4.$ Aggregate Nominal Amount: EUR750,000,000 5. Issue Price: 100.460 per cent. of the Aggregate Nominal Amount 6. EUR100,000 and integral multiples of EUR1,000 in excess Specified Denominations: $(a)$ thereof up to and including EUR199,000. No Notes in definitive form will be issued with a denomination above EUR199,000. $(b)$ Calculation Amount (in relation EUR1,000 to calculation of interest in

global form, see Conditions):

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7.	(a)	Issue Date:	21 May 2018
	(b)	Interest Commencement Date:	Issue Date
8.		Maturity Date:	The Specified Interest Payment Date falling in or nearest to 21 May 2020
9.		Interest Basis:	3 month EURIBOR + 0.20 per cent. Floating Rate
10.		Redemption Basis:	Subject to any purchase and cancellation or early redemption, the Notes will be redeemed on the Maturity Date at 100 per cent. of their nominal amount.
11.		Change of Interest:	Not Applicable
12.		Put/Call Options	Not Applicable
13.	(a)	Status of the Notes	Senior
	(b)	Status of the Guarantee	Senior
14.		Date Board approval for issuance of Notes and Guarantee obtained:	10 May 2018

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PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE

15.		Fixed Rate Note Provisions	Not Applicable
16.		Floating Rate Note Provisions	Applicable
	(a)	Specified Period(s):	Not Applicable
	(b)	Specified Payment Interest Dates:	Quarterly on 21 August, 21 November. 21 February and 21 May in each year, from (and including) the First Interest Payment Date to (and including) the Maturity Date, subject to adjustment in accordance with Business Day Convention set out in (d) below.
	(c)	First Interest Payment Date:	21 August 2018
	(d)	Business Day Convention:	Modified Following Business Day Convention/ Preceding Business Day Convention
	(e)	Additional Business Centre(s):	London and TARGET2 System
	(f)	Manner in which the Rate of Interest and Interest Amount is to be determined:	Screen Rate Determination
	(g)	Party responsible for calculating the Rate of Interest and/or Interest Amount (if not the Agent):	Not Applicable

$(h)$ Screen Rate Determination:

$\frac{1}{2} \left( \frac{1}{2} \right)$

	Reference Rate: ۰		3 month EURIBOR
	Relevant Financial Centre: ٠		Brussels
	٠	Interest Determination $Date(s)$ :	The second day on which the TARGET2 System is open prior to the start of each Interest Period
	$\bullet$	Relevant Screen Page:	Reuters EURIBOR01
(i)		ISDA Determination	Not Applicable
(j)		$Margin(s)$ :	$\pm$ 0.20 per cent. per annum
(k)		Minimum Rate of Interest:	0.00 per cent. per annum
(1)		Maximum Rate of Interest:	Not Applicable
(m)		Day Count Fraction:	Actual/360
		Zero Coupon Note Provisions	Not Applicable

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PROVISIONS RELATING TO REDEMPTION

$17.$

18.	Issuer Call	Not Applicable
19.	Investor Put	Not Applicable
20.	Final Redemption Amount of each EUR1,000 per Calculation Amount Note:
21.	Early Calculation Amount payable on redemption for taxation reasons or on event of default:	Redemption Amount per EUR1,000 per Calculation Amount

GENERAL PROVISIONS APPLICABLE TO THE NOTES

22.	Form of Notes:	Temporary Global Note exchangeable for a Permanent Global Note which is exchangeable for Definitive Notes only upon an Exchange Event
23.	New Global Note:	Yes
24.	Intended to be held in a manner which would allow Eurosystem eligibility:	Yes Note that the designation "yes" simply means that the Notes are intended upon issue to be deposited with one of the ICSDs as common safekeeper and does not necessarily mean that the Notes will be recognized as eligible collateral for Eurosystem monetary policy and intra day credit operations by the Eurosystem either upon issue or at any or all times during their life. Such recognition will depend upon the ECB being satisfied that Eurosystem eligibility criteria have been met.

1. Additional Financial Centre(s): London Signed on behalf of the Issuer:

Signed on behalf of the Guarantor:

Herricalier $By:$

Duly authorised

SARAH-JANE CHLUER-STAINER GROUP TREASURER

Mammalum $By:$

Duly authorised

SIGRAH-JANE CHILLYER-STAINER GROLLP TREASURER

PART B - OTHER INFORMATION

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1. LISTING AND ADMISSION TO TRADING

Application has been made for the Notes to be admitted to trading on the London Stock Exchange's Regulated Market with effect from 21 May 2018.

$2₁$ RATINGS

Ratings:

The Notes to be issued have been rated: $S & P: A+$ Moody's: A2

INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE $3.$

Save for any fees payable to the Bookrunners, so far as the Issuer is aware, no person involved in the issue of the Notes has an interest material to the offer. The Bookrunners and their affiliates have engaged, and may in the future engage, in investment banking and/or commercial banking transactions with, and may perform other services for, the Issuer and the Guarantor and their affiliates in the ordinary course of business.

$\overline{4}$ . ESTIMATED NET TOTAL EXPENSES

Estimated total expenses:	£4,560
---------------------------	--------

5. YIELD (Fixed Rate Notes only)

Indication of yield: Not Applicable

6. OPERATIONAL INFORMATION

• $(i)$ ISIN Code: XS1822824642
• $(ii)$ Common Code: 182282464
• $(iii)$ Any clearing system(s) other Not Applicable than Euroclear Bank SA/NV and Clearstream Banking $S.A.$ and the relevant identification number(s):
• $(iv)$ Name(s) and address(es) of Citibank, N.A., London Branch, Citigroup Centre, Canada the initial paying agent(s): Square, Canary Wharf, London E14 5LB
• $(v)$ Names and addresses of Not Applicable additional Paying Agent(s) $(if any):$

7. DISTRIBUTION

$(i)$ Whether TEFRA D or TEFRAD TEFRA C rules applicable TEFRA rules oг. not applicable:

• $(ii)$ U.S. selling restrictions:
• Reg. S. Compliance Category 2

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Prohibition of Sales to EEA Not Applicable
Retail Investors: $(iii)$

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