Every 424B that Novartis (NVS) has filed with the SEC in the last 12 months is listed below, 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 NVS 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 NVS filings page.
Novartis AG is offering an aggregate of $11,000,000,000 in notes, fully and unconditionally guaranteed by Novartis AG.
The offering comprises seven series: $500,000,000 floating rate notes due March 16, 2029 (Compounded SOFR + 0.650%) and six fixed-rate series totaling $10,500,000,000 with coupons from 4.100% to 5.700% and maturities from 2029 through 2056. Net proceeds of approximately $10,910.7 million are intended for general corporate purposes, including repayment of the Avidity Bridge Loan.
Novartis Capital Corporation proposes an offering of multiple series of senior notes, including floating rate notes tied to Compounded SOFR and several fixed rate notes maturing between 2029 and 2056, each fully and unconditionally guaranteed by Novartis AG. The offering contemplates book-entry issuance in minimum denominations of $2,000 and includes optional redemption provisions, tax‑related redemption rights, and benchmark transition mechanics for the SOFR‑linked notes. The net proceeds are intended for general corporate purposes outside Switzerland, including repayment of the Avidity Bridge Loan financing the Avidity Biosciences acquisition.
The prospectus supplement discloses that Novartis AG reported $54.5 billion in net sales and $14.0 billion net income from continuing operations for 2025, and that Novartis Capital Corporation is a wholly owned indirect subsidiary of Novartis AG established to issue debt and provide proceeds to affiliates.
Novartis Capital Corporation, fully guaranteed by Novartis AG, launched a multi‑tranche U.S. dollar notes offering. The deal includes $800,000,000 floating‑rate notes due November 5, 2028, plus fixed‑rate tranches of $700,000,000 at 3.900% due 2028, $1,750,000,000 at 4.100% due 2030, $925,000,000 at 4.300% due 2032, $925,000,000 at 4.600% due 2035, $350,000,000 at 5.200% due 2045, and $550,000,000 at 5.300% due 2055.
The floating‑rate notes pay Compounded SOFR plus 0.52% with quarterly payments starting February 5, 2026; fixed‑rate tranches pay semiannually each May 5 and November 5, commencing May 5, 2026. The notes are senior unsecured, pari passu with the issuer’s other senior debt, and the guarantees rank equally with Novartis AG’s other senior unsecured obligations.
Estimated net proceeds are about $5,959.3 million, intended for general corporate purposes outside Switzerland, including refinancing of existing long‑ and short‑term debt. Fixed‑rate notes may be redeemed at the issuer’s option as described, and all series include tax‑related redemption provisions. The notes will not be listed, and settlement via DTC, Clearstream, and Euroclear is expected on or about November 5, 2025.
Novartis Capital Corporation launched a preliminary prospectus supplement under its shelf registration to offer senior unsecured notes across multiple tranches, including a floating‑rate series using Compounded SOFR and fixed‑rate series maturing from 2028 to 2055. The notes will be fully and unconditionally guaranteed by Novartis AG and issued in book‑entry form through DTC, with access via Clearstream and Euroclear. There is no sinking fund.
Novartis may redeem the fixed‑rate notes at its option as described, and both the fixed and floating tranches may be redeemed for certain tax reasons. The notes will not be listed, and an active trading market may not develop. Key risks noted include potential price volatility with interest rates and credit ratings, structural subordination to subsidiary liabilities, effective subordination to any future secured debt, and SOFR‑related benchmark risks for the floating‑rate tranche. Net proceeds will be used for general corporate purposes outside Switzerland, including refinancing existing indebtedness.