JOHNSON & JOHNSON — Capital/Financing Update 2007

Oct 30, 2007

FWP 1 y41496afwp.htm FREE WRITING PROSPECTUS FWP PAGEBREAK

Filed Pursuant to Rule 433 Registration Statement — 333-138649

£500,000,000 5.50% Notes Due 2024 Johnson & Johnson October 30, 2007 Pricing Term Sheet

Issuer:	Johnson & Johnson
Size:	£500,000,000
Maturity:	November 6, 2024
Coupon:	5.50% annually, accruing from November 6, 2007
Price to Public:	99.227% of principal amount
Interest Payment Dates:	November 6, commencing on November 6, 2008
Optional Redemption:	In whole or in part at anytime at a make-whole redemption price and
in whole at par upon the occurrence of certain events involving
changes in U.S. tax law
Make-Whole Premium:	Greater of par or 5.00% due 3/25 Gilt flat
Denominations:	Minimum of £50,000 principal amount and integral multiples of £50,000
Settlement Date:	November 6, 2007
Joint Book-Running Managers:	Deutsche Bank, JPMorgan, The Royal Bank of Scotland

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 Deutsche Bank toll free at 1-800-503-4611.

Folio /Folio