QUALCOMM INC/DE — Capital/Financing Update 2020

May 6, 2020

FWP 1 a20-15417_3fwp.htm FWP

*Filed Pursuant to Rule 433*

*Registration No. 333-225063*

*Issuer Free Writing Prospectus dated May 6, 2020*

*Relating to Preliminary Prospectus Supplement dated May 6, 2020*

*QUALCOMM INCORPORATED*

*$1,200,000,000 2.150% NOTES DUE 2030*

*$800,000,000 3.250% NOTES DUE 2050*

*PRICING TERM SHEET*

*MAY 6, 2020*

	2030 NOTES	2050 NOTES
Issuer:	QUALCOMM Incorporated
Security Description:	2.150% Notes due 2030	3.250% Notes due 2050
Principal Amount:	$1,200,000,000	$800,000,000
Maturity Date:	May 20, 2030	May 20, 2050
Benchmark Treasury:	1.500% due 2/15/2030	2.375% due 11/15/2049
Benchmark Treasury Price and Yield:	107-19; 0.695%	123-23+; 1.392%
Spread to Benchmark Treasury:	+150 bps	+190 bps
Yield to Maturity:	2.195%	3.292%
Coupon:	2.150%	3.250%
Interest Payment Dates:	Semi-annually on May 20 and November 20, commencing on November 20, 2020	Semi-annually on May 20 and November 20, commencing on November 20, 2020

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Initial Price to Public:	99.596%	99.202%
Gross Proceeds to the Issuer:	$1,195,152,000	$793,616,000
Optional Redemption Provisions:	At any time prior to February 20, 2030 (3 months prior to maturity): make-whole redemption at a discount rate of Treasury plus 25 bps On or after February 20, 2030 (3 months prior to maturity): redemption at par	At any time prior to November 20, 2049 (6 months prior to maturity): make-whole redemption at a discount rate of Treasury plus 30 bps On or after November 20, 2049 (6 months prior to maturity): redemption at par
Day Count Convention:	30/360	30/360
CUSIP / ISIN:	747525 BK8 / US747525BK80	747525 BJ1 / US747525BJ18
Ratings * :	A2 (Negative) / A- (Stable) (Moody’s / S&P)
Trade Date:	May 6, 2020
Settlement Date:	May 8 , 2020 (T+2)
Legal Format:	SEC Registered
Denominations:	$2,000 and integral multiples of $1,000 in excess thereof
Joint Book-Running Managers:	BofA Securities, Inc. Goldman Sachs & Co. LLC J.P. Morgan Securities LLC Barclays Capital Inc. BNP Paribas Securities Corp. Citigroup Global Markets Inc. Deutsche Bank Securities Inc.
Co-Managers:	Mizuho Securities USA LLC MUFG Securities Americas Inc. Loop Capital Markets LLC SMBC Nikko Securities America, Inc. U.S. Bancorp Investments, Inc. Wells Fargo Securities, LLC Academy Securities Inc. Great Pacific Securities Siebert Williams Shank & Co., LLC

* A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.

*This communication is intended for the sole use of the person to whom it is provided by us.*

*The Issuer has filed a registration statement (including a prospectus) with the U.S. Securities and Exchange Commission (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 website at www.sec.gov* . Alternatively, the Issuer, any underwriter or any dealer participating in this**

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*offering will arrange to send you a copy of the prospectus if you request it by calling BofA Securities, Inc. toll-free at 1-800-294-1322, Goldman Sachs & Co. LLC toll-free at 1 - 866-471-2526 or J.P. Morgan Securities LLC collect at 1-212-834-4533.*

*Any disclaimer or other notice that may appear below is not applicable to this communication and should be disregarded. Such disclaimer or other notice was automatically generated as a result of this communication being sent via Bloomberg or another email system.*

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