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NetApp Prices $2,000,000,000 of Senior Notes

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PR Hotline:
408.822.3287
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SUNNYVALE, CA – June 18, 2020 - NetApp, Inc. (NASDAQ: NTAP), a leader in hybrid cloud data services, today announced the pricing of $750,000,000 in aggregate principal amount of its 1.875% Senior Notes due 2025 that will bear interest at 1.875% per annum, $550,000,000 in aggregate principal amount of its 2.375% Senior Notes due 2027 that will bear interest at 2.375% per annum and $700,000,000 in aggregate principal amount of its 2.700% Senior Notes due 2030 that will bear interest at 2.700% per annum. The offering is expected to close, subject to the satisfaction of customary closing conditions, on June 22, 2020.

NetApp intends to use the net proceeds from this offering for general corporate purposes, including repayment of $500 million in aggregate principal amount of NetApp’s outstanding 3.375% Senior Notes due 2021 (including accrued and unpaid interest and any make-whole payment thereon) on or prior to their maturity in June 2021 and repayment of outstanding borrowings under its existing commercial paper program.

Goldman Sachs & Co. LLC , J.P. Morgan Securities LLC, BofA Securities, Inc., Morgan Stanley & Co. LLC, Citigroup Global Markets Inc. and Wells Fargo Securities, LLC are acting as joint book-running managers.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the senior notes or any other securities nor shall there be any sale of the senior notes or any other securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering of senior notes may be made only by means of a preliminary prospectus supplement and the accompanying prospectus, copies of which can be obtained from:

Goldman Sachs & Co. LLC
200 West Street
New York, NY 10282
Attention: Prospectus Department
Tel: (866) 471-2526
Fax: (212) 902-9316
Email: prospectus-ny@ny.email.gs.com

J.P. Morgan Securities LLC
383 Madison Ave.
New York, NY 10179
Attention: Investment Grade Syndicate Desk, 3rd Floor
Tel: (212) 834-4533
Fax: (212) 834-6081

BofA Securities, Inc.
NC1-004-03-43
200 North College Street, 3rd Floor
Charlotte, NC 28255-0001
Attention: Prospectus Department
Tel: (800) 294-1322
Email: dg.prospectus_requests@bofa.com

Morgan Stanley & Co. LLC
180 Varick Street
New York, NY 10014
Attention: Prospectus Department
Tel: (866) 718-1649
Email: prospectus@morganstanley.com

Citigroup Global Markets Inc.
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Tel: (800) 831-9146
Email: prospectus@citi.com

Wells Fargo Securities, LLC
608 2nd Avenue South, Suite 1000
Minneapolis, MN 55402
Attention: WFS Customer Service
Tel: (800) 645-3751
Email: wfscustomerservice@wellsfargo.com

About NetApp
NetApp is a leader in hybrid cloud data services. In a world of increasing complexity, we simplify. We help our customers ensure their data and applications are in the right place at the right time with the right characteristics and capabilities to enable new insights and accelerate innovation. We do this by helping customers build their data fabrics. Together with our partners, we empower organizations to unleash the full potential of their data to expand customer touchpoints, foster greater innovation and optimize their operations. We were incorporated in 1992 and are headquartered in Sunnyvale, California.

Cautionary Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that could cause actual results to differ materially, including, but not limited to, whether NetApp will consummate the offering, prevailing market conditions, the anticipated use of the proceeds of the offering, which could change as a result of market conditions or for other reasons, interest rates and corporate considerations and the impact of general economic, industry or political conditions in the United States or internationally. We disclaim any obligation to update information contained in this press release whether as a result of new information, future events, or otherwise.

Press Contact: Investor Contact:
Amelia Vierra Lance Berger
NetApp NetApp
1 (408) 822-6403 1 (408) 822-6628
amelia.vierra@netapp.com lance.berger@netapp.com