Pfizer Prices $6,000,000,000 Debt Offering

Pfizer Inc. (NYSE:PFE) today announced the pricing of a debt offering consisting of five tranches of notes:
$1,000,000,000 aggregate principal amount of 1.700% notes due 2019
$1,000,000,000 aggregate principal amount of 2.200% notes due 2021
$1,750,000,000 aggregate principal amount of 3.000% notes due 2026
$1,000,000,000 aggregate principal amount of 4.000% notes due 2036
$1,250,000,000 aggregate principal amount of 4.125% notes due 2046

Pfizer intends to use the net offering proceeds to fund the purchase of its 6.200% Senior Notes due March 15, 2019 (the "Tender Notes") validly tendered and accepted for payment in Pfizer's previously announced tender offer (the "Tender Offer") and to fund the redemption of any of the Tender Notes that remain outstanding after the completion of the Tender Offer in accordance with the terms of the make-whole provisions of the indenture governing the Tender Notes. Pfizer intends to use the remaining proceeds for general corporate purposes, including to refinance, redeem or repurchase existing debt and to repay a portion of its outstanding commercial paper.

The closing of the offering is expected to occur on November 21, 2016, subject to satisfaction of customary closing conditions.

Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and RBC Capital Markets, LLC are acting as joint book-running managers for the offering.

The offering of these securities is being made only by means of a prospectus. Copies may be obtained by calling Citigroup Global Markets Inc. at (800) 831-9146, Credit Suisse Securities (USA) LLC at (800) 221-1037, Merrill Lynch, Pierce, Fenner & Smith Incorporated at (800) 294-1322 or RBC Capital Markets, LLC at (866) 375-6829.

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