<SEC-DOCUMENT>0001140361-24-005575.txt : 20240205
<SEC-HEADER>0001140361-24-005575.hdr.sgml : 20240205
<ACCEPTANCE-DATETIME>20240205125236
ACCESSION NUMBER:		0001140361-24-005575
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20240205
DATE AS OF CHANGE:		20240205

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BECTON DICKINSON & CO
		CENTRAL INDEX KEY:			0000010795
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		ORGANIZATION NAME:           	08 Industrial Applications and Services
		IRS NUMBER:				220760120
		STATE OF INCORPORATION:			NJ
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-255829
		FILM NUMBER:		24594874

	BUSINESS ADDRESS:	
		STREET 1:		ONE BECTON DR
		CITY:			FRANKLIN LAKES
		STATE:			NJ
		ZIP:			07417-1880
		BUSINESS PHONE:		2018476800

	MAIL ADDRESS:	
		STREET 1:		ONE BECTON DR
		CITY:			FRANKLIN LAKE
		STATE:			NJ
		ZIP:			07417

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BECTON DICKINSON & CO
		CENTRAL INDEX KEY:			0000010795
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		ORGANIZATION NAME:           	08 Industrial Applications and Services
		IRS NUMBER:				220760120
		STATE OF INCORPORATION:			NJ
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		ONE BECTON DR
		CITY:			FRANKLIN LAKES
		STATE:			NJ
		ZIP:			07417-1880
		BUSINESS PHONE:		2018476800

	MAIL ADDRESS:	
		STREET 1:		ONE BECTON DR
		CITY:			FRANKLIN LAKE
		STATE:			NJ
		ZIP:			07417
</SEC-HEADER>
<DOCUMENT>
<TYPE>FWP
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<FILENAME>ny20020446x8_fwp.htm
<DESCRIPTION>FWP
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      <div style="text-align: right;">Filed pursuant to Rule 433</div>
      <div style="text-align: right;">Issuer Free Writing Prospectus dated February 5, 2024 Supplementing the Preliminary Prospectus Supplement dated February 5, 2024</div>
      <div style="text-align: right;">Registration Statement No. 333-255829</div>
      <div style="text-align: right;"> <br>
      </div>
      <div style="text-align: right;">
        <div style="text-align: center; font-weight: bold;">Pricing Term Sheet</div>
        <div>&#160;</div>
        <div style="text-align: center; font-weight: bold;">Becton, Dickinson and Company<br>
          <font style="color: #000000;">&#8364;750,000,000 3.519</font>% Notes due 2031</div>
        <div style="text-align: center;"><font style="font-weight: bold;">(the &#8220;Notes&#8221;)</font></div>
        <div style="text-align: center;"><font style="font-weight: bold;"><br>
          </font>
          <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" cellpadding="0" cellspacing="0">

              <tr>
                <td style="width: 36.38%; vertical-align: top;">
                  <div style="color: #000000; font-weight: bold;">Issuer:</div>
                </td>
                <td style="width: 63.62%; vertical-align: top;">
                  <div style="color: #000000;">Becton, Dickinson and Company (the &#8220;Company&#8221;)</div>
                  <div style="color: #000000;"> <br>
                  </div>
                </td>
              </tr>
              <tr>
                <td style="width: 36.38%; vertical-align: top;">
                  <div style="color: #000000; font-weight: bold;">Aggregate Principal Amount Offered:</div>
                </td>
                <td style="width: 63.62%; vertical-align: top;">
                  <div style="color: #000000;">&#8364;750,000,000</div>
                  <div style="color: #000000;"> <br>
                  </div>
                </td>
              </tr>
              <tr>
                <td style="width: 36.38%; vertical-align: top;">
                  <div style="color: #000000; font-weight: bold;">Maturity Date:</div>
                </td>
                <td style="width: 63.62%; vertical-align: top;">
                  <div style="color: #000000;">February 8, 2031</div>
                  <div style="color: #000000;"> <br>
                  </div>
                </td>
              </tr>
              <tr>
                <td style="width: 36.38%; vertical-align: top;">
                  <div style="color: #000000; font-weight: bold;">Trade Date:</div>
                </td>
                <td style="width: 63.62%; vertical-align: top;">
                  <div><font style="color: #000000;">February 5, 20</font>24</div>
                  <div> <br>
                  </div>
                </td>
              </tr>
              <tr>
                <td style="width: 36.38%; vertical-align: top;">
                  <div style="color: #000000; font-weight: bold;">Settlement Date:</div>
                </td>
                <td style="width: 63.62%; vertical-align: top;">
                  <div style="color: #000000;">February 8, 2024 (T+3)*</div>
                  <div style="color: #000000;"> <br>
                  </div>
                </td>
              </tr>
              <tr>
                <td style="width: 36.38%; vertical-align: top;">
                  <div style="color: #000000; font-weight: bold;">Type of Offering:</div>
                </td>
                <td style="width: 63.62%; vertical-align: top;">
                  <div style="color: #000000;">SEC Registered</div>
                  <div style="color: #000000;"> <br>
                  </div>
                </td>
              </tr>
              <tr>
                <td style="width: 36.38%; vertical-align: top;">
                  <div style="color: #000000; font-weight: bold;">Coupon (Interest Rate):</div>
                </td>
                <td style="width: 63.62%; vertical-align: top;">
                  <div style="color: #000000;">3.519%</div>
                  <div style="color: #000000;"> <br>
                  </div>
                </td>
              </tr>
              <tr>
                <td style="width: 36.38%; vertical-align: top;">
                  <div style="color: #000000; font-weight: bold;">Price to Public (Issue Price):</div>
                </td>
                <td style="width: 63.62%; vertical-align: top;">
                  <div style="color: #000000;">100.000% of principal amount</div>
                  <div style="color: #000000;"> <br>
                  </div>
                </td>
              </tr>
              <tr>
                <td style="width: 36.38%; vertical-align: top;">
                  <div style="color: #000000; font-weight: bold;">Underwriting Discount:</div>
                </td>
                <td style="width: 63.62%; vertical-align: top;">
                  <div style="color: #000000;">0.400%</div>
                  <div style="color: #000000;"> <br>
                  </div>
                </td>
              </tr>
              <tr>
                <td style="width: 36.38%; vertical-align: top;">
                  <div style="color: #000000; font-weight: bold;">Yield to Maturity:</div>
                </td>
                <td style="width: 63.62%; vertical-align: top;">
                  <div style="color: #000000;">3.519%</div>
                  <div style="color: #000000;"> <br>
                  </div>
                </td>
              </tr>
              <tr>
                <td style="width: 36.38%; vertical-align: top;">
                  <div style="color: #000000; font-weight: bold;">Spread to Benchmark German Government Security:</div>
                </td>
                <td style="width: 63.62%; vertical-align: top;">
                  <div style="color: #000000;">+132.1 basis points</div>
                  <div>&#160;</div>
                </td>
              </tr>
              <tr>
                <td style="width: 36.38%; vertical-align: top;">
                  <div style="color: #000000; font-weight: bold;">Benchmark German Government Security:</div>
                </td>
                <td style="width: 63.62%; vertical-align: top;">
                  <div><font style="color: #000000;">0.000</font>% <font style="color: #000000;">DBR due February 15, 2031</font></div>
                  <div><font style="color: #000000;"> <br>
                    </font></div>
                </td>
              </tr>
              <tr>
                <td style="width: 36.38%; vertical-align: top;">
                  <div style="color: #000000; font-weight: bold;">Benchmark German Government Security Price/Yield:</div>
                </td>
                <td style="width: 63.62%; vertical-align: top;">
                  <div style="color: #000000;">85.84% / 2.198%</div>
                  <div style="color: #000000;"> <br>
                  </div>
                </td>
              </tr>
              <tr>
                <td style="width: 36.38%; vertical-align: top;">
                  <div style="color: #000000; font-weight: bold;">Mid-Swap Yield:</div>
                </td>
                <td style="width: 63.62%; vertical-align: top;">
                  <div><font style="color: #000000;">2.669</font>%</div>
                  <div>&#160;</div>
                </td>
              </tr>
              <tr>
                <td style="width: 36.38%; vertical-align: top;">
                  <div style="color: #000000; font-weight: bold;">Spread to Mid-Swap Yield:</div>
                </td>
                <td style="width: 63.62%; vertical-align: top;">
                  <div>+<font style="color: #000000;">85</font>&#160;<font style="color: #000000;">basis points<br>
                      <br>
                    </font></div>
                </td>
              </tr>
              <tr>
                <td style="width: 36.38%; vertical-align: top;">
                  <div style="color: #000000; font-weight: bold;">Interest Payment Date:</div>
                </td>
                <td style="width: 63.62%; vertical-align: top;">
                  <div style="color: #000000;">Annually, on February 8, commencing February 8, 2025.</div>
                  <div style="color: #000000;"> <br>
                  </div>
                </td>
              </tr>
              <tr>
                <td style="width: 36.38%; vertical-align: top;">
                  <div style="color: #000000; font-weight: bold;">Day Count Convention:</div>
                </td>
                <td style="width: 63.62%; vertical-align: top;">
                  <div style="color: #000000;">ACTUAL/ACTUAL (ICMA)</div>
                  <div style="color: #000000;"> <br>
                  </div>
                </td>
              </tr>

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            <tr>
              <td style="width: 36.37%; vertical-align: top;">
                <div style="color: #000000; font-weight: bold;">Optional Redemption:</div>
              </td>
              <td style="width: 63.58%; vertical-align: top;">
                <div>The Notes will be redeemable at the Company&#8217;s option, in whole or in part, at any time and from time to time prior to <font style="color: #000000;">November 8</font>, 20<font style="color: #000000;">30</font> (<font style="color: #000000;">three </font>months prior to the maturity date), at a redemption price equal to the greater of (1) <font style="color: #000000;">100</font>% of the principal amount of the Notes to be redeemed and (2) the sum of the present
                  values of the remaining scheduled payments on the Notes being redeemed, discounting such payments to the redemption date on an annual basis (ACTUAL/ACTUAL (ICMA)) at the applicable comparable government bond rate, plus <font style="color: #000000;">20 </font>basis points, plus accrued and unpaid interest, if any, to but excluding the date of redemption.</div>
                <div>&#160;</div>
                <div>At any time on or after <font style="color: #000000;">November 8</font>, 20<font style="color: #000000;">30</font> (three months prior to the maturity date), the Notes will be redeemable at the Company&#8217;s option, in whole or in part,
                  at a redemption price equal to <font style="color: #000000;">100</font>% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest to but excluding the redemption date.</div>
                <div>&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="width: 36.37%; vertical-align: top;">
                <div style="color: #000000; font-weight: bold;">Redemption for Tax Reasons:</div>
              </td>
              <td style="width: 63.58%; vertical-align: top;">
                <div style="color: #000000;">If, as a result of any change in, or amendment to, the tax laws of the United States, or the official interpretation thereof, the Company becomes or, based upon a written opinion of independent counsel selected
                  by the Company, will become obligated to pay additional amounts with respect to the Notes, the Company may at any time at its option redeem, in whole, but not in part, the Notes at 100% of the principal amount plus accrued and unpaid
                  interest to the date of redemption.</div>
                <div style="color: #000000;"> <br>
                </div>
              </td>
            </tr>
            <tr>
              <td style="width: 36.37%; vertical-align: top;">
                <div style="color: #000000; font-weight: bold;">Change of Control:</div>
              </td>
              <td style="width: 63.58%; vertical-align: top;">
                <div style="color: #000000;">If a change of control triggering event occurs, unless the Company has exercised its right to redeem the Notes as described under &#8220;Optional Redemption,&#8221; the Company will be required to make an offer to each
                  holder of the outstanding Notes to repurchase all or any portion of such holder&#8217;s Notes at a purchase price of 101% of the principal amount plus accrued and unpaid interest to, but excluding, the date of purchase.</div>
                <div style="color: #000000;"> <br>
                </div>
              </td>
            </tr>
            <tr>
              <td style="width: 36.37%; vertical-align: top;">
                <div style="color: #000000; font-weight: bold;">Settlement:</div>
              </td>
              <td style="width: 63.58%; vertical-align: top;">
                <div>Euroclear/Clearstream</div>
                <div> <br>
                </div>
              </td>
            </tr>
            <tr>
              <td style="width: 36.37%; vertical-align: top;">
                <div style="color: #000000; font-weight: bold;">Listing:</div>
              </td>
              <td style="width: 63.58%; vertical-align: top;">
                <div>Application will be made to have the Notes listed on the New York Stock Exchange.</div>
                <div> <br>
                </div>
              </td>
            </tr>
            <tr>
              <td style="width: 36.37%; vertical-align: top;">
                <div style="color: #000000; font-weight: bold;">Common Code/ISIN:</div>
              </td>
              <td style="width: 63.58%; vertical-align: top;">
                <div><font style="color: #000000;">276302639 </font>/ XS2763026395</div>
                <div> <br>
                </div>
              </td>
            </tr>
            <tr>
              <td style="width: 36.37%; vertical-align: top;">
                <div style="color: #000000; font-weight: bold;">Denominations:</div>
              </td>
              <td style="width: 63.58%; vertical-align: top;">
                <div style="color: #000000;">&#8364;100,000 x &#8364;1,000<br>
                  <br>
                </div>
              </td>
            </tr>
            <tr>
              <td style="width: 36.37%; vertical-align: top;">
                <div style="color: #000000; font-weight: bold;">Stabilization:</div>
              </td>
              <td style="width: 63.58%; vertical-align: top;">
                <div style="color: #000000;">Stabilization/FCA</div>
                <div style="color: #000000;"> <br>
                </div>
              </td>
            </tr>
            <tr>
              <td style="width: 36.37%; vertical-align: top;">
                <div style="color: #000000; font-weight: bold;">Joint Book-Running Managers:</div>
              </td>
              <td style="width: 63.58%; vertical-align: top;">
                <div style="color: #000000;">Barclays Bank PLC</div>
                <div style="color: #000000;">BNP Paribas</div>
                <div style="color: #000000;">Citigroup Global Markets Limited</div>
                <div style="color: #000000;">J.P. Morgan Securities plc</div>
                <div style="color: #000000;">Morgan Stanley &amp; Co. International plc</div>
                <div style="color: #000000;">Goldman Sachs &amp; Co. LLC</div>
                <div>Scotiabank (Ireland) Designated Activity Company</div>
                <div style="color: #000000;">Wells Fargo Securities International Limited</div>
                <div>&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="width: 36.37%; vertical-align: top;">
                <div style="color: #000000; font-weight: bold;">Co-Managers:</div>
              </td>
              <td style="width: 63.58%; vertical-align: top;">
                <div style="color: #000000;">Academy Securities Inc.</div>
                <div style="color: #000000;">ING Bank N.V., Belgian Branch</div>
                <div style="color: #000000;">Intesa Sanpaolo IMI Securities Corp.<br>
                </div>
                <div style="color: #000000;">KBC Bank NV</div>
                <div style="color: #000000;">Loop Capital Markets LLC</div>
                <div style="color: #000000;">PNC Capital Markets LLC</div>
                <div style="color: #000000;">Siebert Williams Shank &amp; Co., LLC</div>
                <div style="color: #000000;">Standard Chartered Bank</div>
                <div style="color: #000000;">The Toronto-Dominion Bank</div>
              </td>
            </tr>

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              </td>
              <td style="width: 35pt; vertical-align: top; color: #000000;">*</td>
              <td style="width: auto; vertical-align: top;">
                <div style="color: #000000;">Under Rule 15c6-1 under the Exchange Act, trades in the secondary market are required to settle in two business days, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who
                  wish to trade Notes on the Trade Date will generally be required, by virtue of the fact that the Notes initially settle on the third U.S. business day following the Trade Date, to specify an alternate settlement arrangement at the time of
                  any such trade to prevent a&#160; failed settlement. Purchasers of the Notes who wish to trade the Notes prior to their date of delivery hereunder should consult their advisors.</div>
              </td>
            </tr>

        </table>
        <div>&#160;</div>
        <div style="text-align: justify; font-weight: bold;">The Issuer has filed a registration statement with the SEC (including a prospectus and a preliminary prospectus supplement), for the offering to which this communication relates. Before you
          invest, you should read the prospectus and the preliminary prospectus supplement in that registration statement and other documents the Issuer has filed with the SEC for more complete information about the Guarantor, the Issuer and this offering.
          You may get these documents for free by visiting EDGAR on the SEC Web site at<u> http://www.sec.gov.</u> Alternatively, the Issuer,&#160; any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you
          request it by contacting Barclays Bank PLC toll-free at 1-888-603-5847, BNP Paribas toll-free at 1-800-854-5674, Citigroup Global Markets Limited toll-free at 1-800-831-9146, J.P. Morgan Securities plc at +44-20-7134-2468 or Morgan Stanley &amp;
          Co. International plc toll-free at 1-866-718-1649<font style="color: #000000;">.</font></div>
        <div>&#160;</div>
        <div style="text-align: justify; font-weight: bold;">This pricing term sheet supplements the preliminary prospectus supplement dated February 5, 2024 relating to the prospectus dated May 6, 2021.</div>
        <div>&#160;</div>
        <div style="text-align: justify; font-weight: bold;">MiFID II and/or the UK MiFIR Product Governance Rules&#160;professionals/ECPs-only / No PRIIPs KID &#8211; Manufacturer target market (MIFID II product governance and/or the UK MiFIR Product Governance
          Rules) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document (KID) has been prepared as not available to retail investors in EEA or the United Kingdom.</div>
        <div style="text-align: justify; font-weight: bold;"> <br>
        </div>
        <div style="text-align: justify; font-weight: bold;">Any disclaimers or other notices that may appear below are not applicable to this communication and should be disregarded. Such disclaimers or other notices were automatically generated as a
          result of this communication being sent via Bloomberg or another email system.</div>
        <div style="text-align: justify; font-weight: bold;">
          <hr style="height: 4px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
        <div>&#160;</div>
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