Apple completes $2B sale of 5.35% notes due 2036
Floating-rate notes pay interest quarterly and fixed-rate notes semi-annually, with maturities from November 9, 2028, through November 9, 2036.
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Form Type
8-K
Rhea-AI Filing Summary
Apple Inc. consummated the issuance and sale of notes on November 9, 2026: $500 million of floating-rate notes due November 9, 2028; $750 million of floating-rate notes due November 9, 2029; and fixed-rate notes of $1 billion at 4.650% due November 9, 2028, $1 billion at 4.750% due November 9, 2029, $1 billion at 4.900% due November 9, 2031, $1.25 billion at 5.100% due November 9, 2033, and $2 billion at 5.350% due November 9, 2036.
The notes are senior unsecured obligations ranking equally with Apple’s other unsecured and unsubordinated debt. Floating-rate interest is payable quarterly in arrears beginning February 9, 2027; fixed-rate interest is payable semi-annually in arrears beginning May 9, 2027.
8-K Event Classification
2 items: 8.01, 9.01
2 items
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
2028 Floating Rate Notes principal: $500 million
2029 Floating Rate Notes principal: $750 million
2028 Fixed Rate Notes principal: $1 billion
+4 more
7 metrics
2028 Floating Rate Notes principal
$500 million
Matures November 9, 2028
2029 Floating Rate Notes principal
$750 million
Matures November 9, 2029
2028 Fixed Rate Notes principal
$1 billion
4.650% interest rate; matures November 9, 2028
2029 Fixed Rate Notes principal
$1 billion
4.750% interest rate; matures November 9, 2029
2031 Fixed Rate Notes principal
$1 billion
4.900% interest rate; matures November 9, 2031
2033 Fixed Rate Notes principal
$1.25 billion
5.100% interest rate; matures November 9, 2033
2036 Fixed Rate Notes principal
$2 billion
5.350% interest rate; matures November 9, 2036
Key Terms
Floating Rate Notes, senior unsecured obligations, Indenture
3 terms
Floating Rate Notes financial
"the 2028 Floating Rate Notes"
Floating rate notes are debt securities that pay interest that adjusts periodically based on a short-term interest benchmark (for example, LIBOR or SOFR), so the cash interest you receive goes up or down with market rates. For investors they act like an adjustable-rate loan: they help protect income when overall interest rates rise and generally lose less value than fixed-rate bonds when rates move, making them useful for managing interest-rate risk.
senior unsecured obligations financial
"The Notes will be Apple’s senior unsecured obligations"
Senior unsecured obligations are loans or bonds that a company promises to pay back with its own money, but without any special guarantees or collateral. If the company runs into financial trouble, these debts are paid after other debts with priority, meaning they are less protected but still important. They matter because they show how risky it is to lend money to a company.
Indenture financial
"issued pursuant to an indenture"
An indenture is a legal agreement between a company that borrows money by issuing bonds and the people who buy those bonds. It explains the rules the company must follow, like paying back the money and keeping certain financial promises. This document helps both sides understand their rights and responsibilities.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How much principal did AAPL issue in each note series?
Apple issued $500 million of floating-rate notes due 2028 and $750 million of floating-rate notes due 2029. The fixed-rate series were $1 billion at 4.650% due 2028, $1 billion at 4.750% due 2029, $1 billion at 4.900% due 2031, $1.25 billion at 5.100% due 2033, and $2 billion at 5.350% due 2036.
When does interest begin and how often will AAPL pay it?
Interest on the floating-rate notes is payable quarterly in arrears beginning February 9, 2027. Interest on the fixed-rate notes is payable semi-annually in arrears beginning May 9, 2027.
When do AAPL's notes mature?
The floating-rate notes mature November 9, 2028, and November 9, 2029. The fixed-rate notes mature November 9, 2028, November 9, 2029, November 9, 2031, November 9, 2033, and November 9, 2036.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
(Exact name of Registrant as specified in its charter)
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| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |
(Address of principal executive offices) (Zip Code)
(408 ) 996-1010
(Registrant’s telephone number, including area code)
Not applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading symbol(s) | Name of each exchange on which registered |
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Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01
Other Events.
On November 9, 2026, Apple Inc. (“Apple”) consummated the issuance and sale of $500,000,000 aggregate principal amount of its Floating Rate Notes due 2028 (the “2028 Floating Rate Notes”), $750,000,000 aggregate principal amount of its Floating Rate Notes due 2029 (the “2029 Floating Rate Notes”), $1,000,000,000 aggregate principal amount of its 4.650% Notes due 2028 (the “2028 Fixed Rate Notes”), $1,000,000,000 aggregate principal amount of its 4.750% Notes due 2029 (the “2029 Fixed Rate Notes”), $1,000,000,000 aggregate principal amount of its 4.900% Notes due 2031 (the “2031 Fixed Rate Notes”), $1,250,000,000 aggregate principal amount of its 5.100% Notes due 2033 (the “2033 Fixed Rate Notes”) and $2,000,000,000 aggregate principal amount of its 5.350% Notes due 2036 (the “2036 Fixed Rate Notes” and, together with the 2028 Floating Rate Notes, the 2029 Floating Rate Notes, the 2028 Fixed Rate Notes, the 2029 Fixed Rate Notes, the 2031 Fixed Rate Notes and the 2033 Fixed Rate Notes, the “Notes”), pursuant to an underwriting agreement (the “Underwriting Agreement”) dated November 5, 2026 among Apple and Goldman Sachs & Co. LLC, BofA Securities, Inc., Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC, as representatives of the several underwriters named therein.
The Notes are being issued pursuant to an indenture, dated as of November 1, 2024 (the “Indenture”), between Apple and The Bank of New York Mellon Trust Company, N.A., as trustee, together with the officer’s certificate, dated November 9, 2026 (the “Officer’s Certificate”), issued pursuant to the Indenture establishing the terms of each series of Notes.
The Notes are being issued pursuant to Apple’s Registration Statement on Form S-3 filed with the Securities and Exchange Commission and dated November 1, 2024 (Reg. No. 333-282937) (the “Registration Statement”).
Interest on the 2028 Floating Rate Notes and the 2029 Floating Rate Notes will be paid quarterly in arrears on February 9, May 9, August 9 and November 9 of each year, beginning on February 9, 2027. Interest on the 2028 Fixed Rate Notes, the 2029 Fixed Rate Notes, the 2031 Fixed Rate Notes, the 2033 Fixed Rate Notes, and the 2036 Fixed Rate Notes will be paid semi-annually in arrears on May 9 and November 9 of each year, beginning on May 9, 2027.
The 2028 Floating Rate Notes will mature on November 9, 2028. The 2029 Floating Rate Notes will mature on November 9, 2029. The 2028 Fixed Rate Notes will mature on November 9, 2028. The 2029 Fixed Rate Notes will mature on November 9, 2029. The 2031 Fixed Rate Notes will mature on November 9, 2031. The 2033 Fixed Rate Notes will mature on November 9, 2033. The 2036 Fixed Rate Notes will mature on November 9, 2036.
The Notes will be Apple’s senior unsecured obligations and will rank equally with Apple’s other unsecured and unsubordinated debt from time to time outstanding.
The foregoing description of the Notes and related agreements is qualified in its entirety by the terms of the Underwriting Agreement, the Indenture and the Officer’s Certificate (including the forms of the Notes). Apple is furnishing the Underwriting Agreement and the Officer’s Certificate (including the forms of the Notes) attached hereto as Exhibits 1.1 and 4.1 through 4.8, respectively, and they are incorporated herein by reference. The Indenture is filed as Exhibit 4.1 to the Registration Statement. An opinion regarding the legality of the Notes is filed as Exhibit 5.1, and is incorporated by reference into the Registration Statement; and a consent relating to the incorporation of such opinion is incorporated by reference into the Registration Statement and is filed as Exhibit 23.1 by reference to its inclusion within Exhibit 5.1.
Item 9.01
Financial Statements and Exhibits.
| (d) | Exhibits. |
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Exhibit
Number
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Exhibit Description
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| 1.1 | Underwriting Agreement, dated November 5, 2026, among Apple Inc. and Goldman Sachs & Co. LLC, BofA Securities, Inc., Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC, as representatives of the several underwriters named therein | |
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4.1
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Officer’s Certificate of Apple Inc., dated November 9, 2026
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4.2
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Form of Global Note representing the 2028 Floating Rate Notes (included in Exhibit 4.1)
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4.3
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Form of Global Note representing the 2029 Floating Rate Notes (included in Exhibit 4.1)
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4.4
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Form of Global Note representing the 2028 Fixed Rate Notes (included in Exhibit 4.1)
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| 4.5 | Form of Global Note representing the 2029 Fixed Rate Notes (included in Exhibit 4.1) | |
| 4.6 | Form of Global Note representing the 2031 Fixed Rate Notes (included in Exhibit 4.1) | |
| 4.7 | Form of Global Note representing the 2033 Fixed Rate Notes (included in Exhibit 4.1) | |
| 4.8 | Form of Global Note representing the 2036 Fixed Rate Notes (included in Exhibit 4.1) | |
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5.1
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Opinion of Latham & Watkins LLP
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23.1
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Consent of Latham & Watkins LLP (included in the opinion filed as Exhibit 5.1)
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104
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Inline XBRL for the cover page of this Current Report on Form 8-K
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Date:
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November 9, 2026
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Apple Inc.
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By:
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/s/ Kevan Parekh
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Kevan Parekh
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Senior Vice President, Chief Financial Officer
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Filing Exhibits & Attachments
7 documentsOther Documents
- EX-1.1 EXHIBIT 1.1 205.9 KB
- EX-4.1 EXHIBIT 4.1 426.4 KB
- EX-5.1 EXHIBIT 5.1 19.2 KB
- EX-101 XBRL TAXONOMY EXTENSION - SCHEMA 4.4 KB
- EX-101 XBRL TAXONOMY EXTENSION - DEFINITION LINKBASE 14.7 KB
- EX-101 XBRL TAXONOMY EXTENSION - LABEL LINKBASE 28.4 KB
- EX-101 XBRL TAXONOMY EXTENSION - PRESENTATION LINKBASE 15.0 KB