Analog Devices Announces Offering and Pricing of Senior Notes

Analog Devices, Inc. (NASDAQ: ADI), a global leader in high-performance semiconductors for signal processing applications, today announced it has priced an offering of $850 million aggregate principal amount of 3.90% senior unsecured notes due December 15, 2025 and $400 million aggregate principal amount of 5.30% senior unsecured notes due December 15, 2045. The offering is being conducted pursuant to an effective registration statement under the Securities Act of 1933.

Analog Devices intends to use approximately $378 million of the net proceeds from this offering to fund the redemption of $375 million aggregate principal amount of its 3.00% senior unsecured notes due 2016 on December 18, 2015, the redemption date selected by Analog Devices. The Company intends to use the remaining net proceeds from this offering for general corporate purposes, which may include capital expenditures, repurchases of common stock under its stock repurchase program, repayment or refinancing of existing indebtedness, dividend payments and potential acquisitions.  This offering is expected to close on December 14, 2015.

The joint book-running managers for the offering are J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Credit Suisse Securities (USA) LLC, and Morgan Stanley & Co. LLC. The co-managers are Deutsche Bank Securities Inc., Wells Fargo Securities, LLC, and BNY Mellon Capital Markets, LLC.

Analog Devices, Inc. has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read these documents and other documents Analog Devices, Inc. has filed with the SEC for more complete information about Analog Devices, Inc. and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, Analog Devices, Inc. or any underwriter or dealer participating in the offering will arrange to send you the prospectus if you request it by calling J.P. Morgan Securities LLC (collect) at 1-212-834-4533; Merrill Lynch, Pierce, Fenner & Smith Incorporated toll-free at 1-800-294-1322; or Credit Suisse Securities (USA) LLC toll-free at 1-800-221-1037.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state