fwp
Filed Pursuant to Rule 433
Registration No. 333-152596
Issuer Free Writing Prospectus dated July 27, 2009
Relating to Preliminary Prospectus Supplement dated July 27, 2009
(NORTHROP GRUMMAN LOGO)
$850,000,000
Senior Notes Offering
Pricing Term Sheet
July 27, 2009
         
    3.70% Senior Notes due 2014   5.05% Senior Notes due 2019
 
        
Issuer:
  Northrop Grumman Corporation   Northrop Grumman Corporation
 
        
Expected Ratings:(1)
  Baa2 (Moody’s Investors Service)   Baa2 (Moody’s Investors Service)
 
 
BBB (Standard & Poor’s Ratings
Services)
 
BBB (Standard & Poor’s Ratings
Services)
 
  BBB+ (Fitch Ratings)   BBB+ (Fitch Ratings)
 
        
Principal Amount Offered:
  $350,000,000   $500,000,000
 
        
Pricing Date:
  July 27, 2009   July 27, 2009
 
        
Settlement Date (T + 3):
  July 30, 2009   July 30, 2009
 
        
Maturity Date:
  August 1, 2014   August 1, 2019
 
        
Benchmark Treasury:
  2.625% due June 30, 2014   3.125% due May 15, 2019
 
        
Benchmark Treasury Yield:
  2.591%   3.721%
 
        
Spread to Benchmark Treasury:
  +115 basis points   +135 basis points
 
        
Yield to Maturity:
  3.741%   5.071%
 
        
Coupon (Interest Rate):
  3.70%   5.05%
 
        
Day Count Convention:
  30 / 360   30 / 360
 
        
Price to Public:(2)
  99.814%   99.837%

 

 

         
    3.70% Senior Notes due 2014   5.05% Senior Notes due 2019
 
        
Interest Payment Dates:
  February 1 and August 1, commencing February 1, 2010   February 1 and August 1, commencing February 1, 2010
 
        
Optional Redemption:
  At any time at a discount rate of the Adjusted Treasury Rate +20 basis points   At any time at a discount rate of the Adjusted Treasury Rate +25 basis points
 
        
CUSIP / ISIN:
  666807 BB7 / US666807BB74   666807 BA9 / US666807BA91
 
        
Denominations:
  $2,000 and multiples of $1,000 in excess thereof   $2,000 and multiples of $1,000 in excess thereof
 
        
Joint Book Running Managers:
  Credit Suisse Securities (USA) LLC   Credit Suisse Securities (USA) LLC
 
  Deutsche Bank Securities Inc.   Deutsche Bank Securities Inc.
 
  J.P. Morgan Securities Inc.   J.P. Morgan Securities Inc.
 
  Citigroup Global Markets Inc.   Citigroup Global Markets Inc.
 
  Morgan Stanley & Co. Incorporated   Morgan Stanley & Co. Incorporated
 
  RBS Securities Inc.   RBS Securities Inc.
 
        
Co-Managers:
  Banca IMI S.p.A.   Banca IMI S.p.A.
 
  BNP Paribas Securities Corp.   BNP Paribas Securities Corp.
 
  Goldman, Sachs & Co.   Goldman, Sachs & Co.
 
  Mitsubishi UFJ Securities (USA), Inc.   Mitsubishi UFJ Securities (USA), Inc.
 
  SunTrust Robinson Humphrey, Inc.   SunTrust Robinson Humphrey, Inc.
 
  Wells Fargo Securities, LLC   Wells Fargo Securities, LLC
 
(1)    A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.
 
(2)     Plus accrued interest, if any, from July 30, 2009.
The issuer 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 the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling one of the numbers listed below:
         
Credit Suisse Securities (USA) LLC   Deutsche Bank Securities Inc.   J.P. Morgan Securities Inc.
1-800-221-1037 (toll free)   1-800-503-4611 (toll free)   1-212-834-4533 (collect)
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