Here are the 424B prospectus supplements from NetFlix Inc (NFLX) in our archive over the last 12 months, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow NFLX and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full NFLX filings page.
Netflix, Inc. is offering $1,000,000,000 of 5.250% Senior Notes due August 15, 2036 under its shelf registration. The notes are priced at 99.255% of principal, with semiannual interest payments on February 15 and August 15, beginning February 15, 2027.
Netflix expects net proceeds of about $986 million, to be used primarily to repay its 4.375% Senior Notes maturing November 15, 2026 and for general corporate purposes. After this issuance and repayment, senior notes outstanding would be about $14.4 billion. The notes are unsecured, not guaranteed by subsidiaries, structurally subordinated to subsidiary liabilities, and may be redeemed at Netflix’s option, including a make-whole call before May 15, 2036 and par call thereafter. The notes will not be listed on an exchange, and the indenture includes only limited covenants, offering investors modest protective terms.
Netflix, Inc. plans to issue new unsecured senior notes under its existing shelf registration, with interest payable semi-annually and the notes redeemable at Netflix’s option, including a make-whole call before a defined Par Call Date and at par thereafter. The notes will be issued in global form through DTC, Clearstream and Euroclear and are not guaranteed by subsidiaries, making them structurally subordinated to subsidiary liabilities.
Net proceeds are expected to be used primarily to repay at maturity Netflix’s 4.375% Senior Notes due November 15, 2026 and for general corporate purposes, with interim investment in short-term marketable securities. As of June 30, 2026, Netflix reported $14,372 million of total debt, $9,099 million of cash and cash equivalents, an undrawn $3.0 billion revolving credit facility, content liabilities of about $5.5 billion, and subsidiary liabilities of about $6.4 billion.
The indenture includes limited covenants, does not restrict additional indebtedness or content obligations, and permits future secured debt that would be effectively senior to the notes. Risk factors highlight refinancing and interest-rate risk, potential illiquidity in any trading market for the notes, ratings changes, optional redemption and reinvestment risk, and U.S. tax considerations for non-U.S. investors.