Obligation Nordstrom & Co. 4.375% ( US655664AT70 ) en USD

Nordstrom & Co.

90.733 % ▲

Etats-unis

US655664AT70 ( en USD )

4.375% par an ( paiement semestriel )

31/03/2030

Prospectus brochure de l'obligation Nordstrom INC US655664AT70 en USD 4.375%, échéance 31/03/2030

2 000 USD

500 000 000 USD

655664AT7

BB+ ( Spéculatif )

Ba2 ( Spéculatif )

01/04/2026 ( Dans 50 jours )

Nordstrom, Inc. est une société américaine de vente au détail de vêtements, de chaussures et d'accessoires de luxe, opérant des grands magasins, des magasins hors prix et une plateforme de commerce électronique.

L'obligation Nordstrom Inc. (ISIN : US655664AT70, CUSIP : 655664AT7), émise aux États-Unis pour un montant total de 500 000 000 USD, avec un prix actuel de marché de 90,733 %, offre un taux d'intérêt de 4,375 % et arrive à échéance le 31 mars 2030, avec des paiements semestriels, une taille minimale d'achat de 2 000 USD, et bénéficie des notations BB+ (S&P) et Ba2 (Moody's).

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Filed Pursuant to Rule 424(b)(5)
Registration No. 333-230379
CALCULATION OF REGISTRATION FEE

Title of Each Class of
Aggregate Offering
Amount of
Securities to be Registered

Price

Registration Fee(1)
4.375% Senior Notes due 2030

$500,000,000

$64,900
Total

$500,000,000

$64,900

(1)
Calculated in accordance with Rule 457(r) of the Securities Act of 1933, as amended.
Table of Contents

PROSPECTUS SUPPLEMENT
November 4, 2019
(To Prospectus dated November 4, 2019)
$500,000,000

NORDSTROM, INC.
4.375% Senior Notes due 2030

We are offering $500 million aggregate principal amount of 4.375% Senior Notes due 2030 (the "notes"). Interest on the notes will be paid
semi-annually in arrears on April 1 and October 1 of each year, commencing on April 1, 2020. The notes will mature on April 1, 2030. We may redeem
the notes, at any time in whole or from time to time in part, at our option, at the redemption prices discussed under the heading "Description of the Notes
--Optional Redemption." If we experience a "Change of Control Repurchase Event" (as defined in this prospectus supplement), we will be required to
offer to purchase the notes from holders.
The notes will be our unsecured senior obligations and will rank equally in right of payment with all of our other unsecured and
unsubordinated debt from time to time outstanding. The notes will be issued only in registered form in minimum denominations of $2,000 and integral
multiples of $1,000.
Investing in the notes involves risks. See "Risk Factors" beginning on page S-11 of this prospectus
supplement and those risk factors incorporated by reference into this prospectus supplement and the accompanying
prospectus from our Annual Report on Form 10-K for the fiscal year ended February 2, 2019.

Per Note

Total

Public offering price
99.888%

$499,440,000(1)
Underwriting discount
0.650%

$
3,250,000
Proceeds, before expenses, to us
99.238%

$496,190,000(1)

(1)
Plus accrued interest, if any, from November 6, 2019, if settlement occurs after that date.
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these notes or
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determined if this prospectus supplement or the accompanying prospectus is truthful or complete. Any representation to the contrary is a criminal offense.
Delivery of the notes in book-entry only form will be made on or about November 6, 2019 through the facilities of The Depository Trust
Company for the accounts of its participants, including Clearstream Banking, S.A. and Euroclear Bank SA/NV.

Joint Book-Running Managers

BofA Securities

J.P. Morgan

US Bancorp
Co-Managers

BNY Mellon Capital Markets, LLC

Fifth Third Securities

Goldman Sachs & Co. LLC
KeyBanc Capital Markets

Morgan Stanley

MUFG
Scotiabank

TD Securities

Wells Fargo Securities
Table of Contents
You should rely only on the information contained in or incorporated by reference in this prospectus supplement and the
accompanying prospectus. We have not, and the underwriters have not, authorized anyone to provide you with different information. We are not,
and the underwriters are not, making an offer of these securities in any jurisdiction where the offer is not permitted. You should not assume that
the information contained in or incorporated by reference in this prospectus supplement or the accompanying prospectus is accurate as of any
date after the dates on the front of this prospectus supplement or the accompanying prospectus, as applicable, or for information incorporated by
reference, as of the dates of that information.

TABLE OF CONTENTS
Prospectus Supplement

Page
About this Prospectus Supplement

ii
Where You Can Find More Information

iv
Cautionary Statements Relating to Forward-Looking Information
S-1
Summary
S-4
Risk Factors
S-11
Use of Proceeds
S-14
Capitalization
S-14
Description of the Notes
S-15
Material United States Federal Income Tax Consequences
S-25
Underwriting
S-31
Experts
S-36
Legal Matters
S-36
Prospectus

About this Prospectus

2
Where You Can Find More Information

3
Cautionary Statements Relating to Forward-Looking Information

4
The Company

7
Risk Factors

10
Use of Proceeds

10
Selling Security Holders

11
Plan of Distribution

12
The Securities That May Be Offered

12
Description of Debt Securities

12
Description of Capital Stock

24
Legal Matters

24
Experts

24
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ABOUT THIS PROSPECTUS SUPPLEMENT
This document is in two parts. The first part is this prospectus supplement, which contains the terms of our offering of notes. The second part
is the accompanying prospectus, dated November 4, 2019, which is part of our Registration Statement on Form S-3.
This prospectus supplement may add to, update or change the information in the accompanying prospectus. If information in this prospectus
supplement is inconsistent with information contained in the accompanying prospectus, this prospectus supplement will apply and will supersede that
information in the accompanying prospectus.
It is important for you to read and consider all information contained or incorporated by reference in this prospectus supplement and the
accompanying prospectus in making your investment decision. You should also read and consider the information contained in the documents to which we
have referred you in "Where You Can Find More Information" in this prospectus supplement.
This prospectus supplement and the accompanying prospectus do not constitute an offer to sell or the solicitation of an offer to buy the notes in
any circumstances in which such offer or solicitation is unlawful. Neither the delivery of this prospectus supplement and the accompanying prospectus, nor
any sale made hereunder, shall under any circumstances create any implication that there has been no change in our affairs since the date of this prospectus
supplement, or that the information contained or incorporated by reference in this prospectus supplement or the accompanying prospectus is correct as of
any time subsequent to the date of such information.
The distribution of this prospectus supplement and the accompanying prospectus and the offering of the notes in certain jurisdictions may be
restricted by law. This prospectus supplement and the accompanying prospectus do not constitute an offer, or an invitation on our behalf or the
underwriters' behalf, to subscribe to or purchase any of the notes, and may not be used for or in connection with an offer or solicitation by anyone, in any
jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation.
In this prospectus supplement and the accompanying prospectus, unless otherwise stated, references to "Nordstrom," "we," us," "our" and the
"Company" refer to Nordstrom, Inc. and its consolidated subsidiaries. With respect to the discussion of the terms of the notes on the cover page, in the
section entitled "Summary" and in the section entitled "Description of the Notes," the words "Nordstrom," "we," "us," "our" and the "Company" refer only
to Nordstrom, Inc. and not to any of its subsidiaries.
Notice to Prospective Investors in the European Economic Area
Neither this prospectus supplement nor the accompanying prospectus is a prospectus for the purposes of the Prospectus Regulation (as defined
below). This prospectus supplement and the accompanying prospectus have been prepared on the basis that any offer of notes in any Member State of the
European Economic Area (the "EEA") will only be made to a legal entity which is a qualified investor under the Prospectus Regulation ("Qualified
Investors"). Accordingly, any person making or intending to make an offer in that Member State of notes which are the subject of the offering
contemplated in this prospectus supplement and the accompanying prospectus may only do so with respect to Qualified Investors. Neither Nordstrom, Inc.
nor the underwriters have authorized, nor do they authorize, the making of any offer of notes other than to Qualified Investors. The expression "Prospectus
Regulation" means Regulation (EU) 2017/1129.
PROHIBITION OF SALES TO EEA RETAIL INVESTORS--The notes are not intended to be offered, sold or otherwise made available to and should
not be offered, sold or otherwise made available to any retail investor in the EEA. For these purposes, a retail investor means a person who is one (or more)
of: (i) a retail client as

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defined in point (11) of Article 4(1) of Directive 2014/65/EU, as amended ("MiFID II"); or (ii) a customer within the meaning of Directive (EU) 2016/97
(the "Insurance Distribution Directive"), where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II;
or (iii) not a qualified investor as defined in the Prospectus Regulation. Consequently, no key information document required by Regulation (EU) No
1286/2014, as amended (the "PRIIPs Regulation") for offering or selling the notes or otherwise making them available to retail investors in the EEA has
been prepared and therefore offering or selling the notes or otherwise making them available to any retail investor in the EEA may be unlawful under the
PRIIPs Regulation.
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Notice to Prospective Investors in the United Kingdom
The communication of this prospectus supplement, the accompanying prospectus and any other document or materials relating to the issue of
the notes offered hereby is not being made, and such documents and/or materials have not been approved, by an authorized person for the purposes of
section 21 of the United Kingdom's Financial Services and Markets Act 2000, as amended (the "FSMA"). Accordingly, such documents and/or materials
are not being distributed to, and must not be passed on to, the general public in the United Kingdom. The communication of such documents and/or
materials as a financial promotion is only being made to those persons in the United Kingdom who have professional experience in matters relating to
investments and who fall within the definition of investment professionals (as defined in Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005, as amended (the "Financial Promotion Order")), or who fall within Article 49(2)(a) to (d) of the Financial Promotion
Order, or who are any other persons to whom it may otherwise lawfully be made under the Financial Promotion Order (all such persons together being
referred to as "relevant persons"). In the United Kingdom, the notes offered hereby are only available to, and any investment or investment activity to
which this prospectus supplement and the accompanying prospectus relates will be engaged in only with, relevant persons. Any person in the United
Kingdom that is not a relevant person should not act or rely on this prospectus supplement or the accompanying prospectus or any of their contents.

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WHERE YOU CAN FIND MORE INFORMATION
We file annual, quarterly and current reports, proxy statements and other information with the Securities and Exchange Commission, or the
"SEC." Our SEC filings are available to the public over the Internet at the SEC's website at http://www.sec.gov or from Nordstrom's website at
http://www.nordstrom.com. The information contained in or connected to our website is not part of this prospectus supplement or the accompanying
prospectus.
Our common stock is listed and traded on the New York Stock Exchange. We will refer to the New York Stock Exchange as the "NYSE" in
this prospectus supplement.
The SEC allows us to "incorporate by reference" into this prospectus supplement and the accompanying prospectus the information we file
with the SEC, which means that we can disclose important information to you by referring you to those documents. The information incorporated by
reference is considered to be part of this prospectus supplement and the accompanying prospectus, and information that we file later with the SEC will
automatically update this prospectus supplement and the accompanying prospectus. In other words, in the case of a conflict or inconsistency between the
information set forth in this prospectus supplement and the accompanying prospectus and information incorporated by reference into this prospectus
supplement and the accompanying prospectus, you should rely on the information contained in the document that was filed later. You should review these
filings as they may disclose a change in our business, prospects, financial condition or other affairs after the date of this prospectus supplement. We
incorporate by reference the documents listed below, which we have already filed with the SEC, and any future filings we will make with the SEC under
Sections 13(a), 13(c), 14 or 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), between the date of this prospectus
supplement and the date of the completion of the offering:

(1)
our Annual Report on Form 10-K for the fiscal year ended February 2, 2019, including information specifically incorporated by

reference into our Annual Report from our proxy statement on Schedule 14A filed on April 12, 2019;

(2)
our Quarterly Reports on Form 10-Q for the fiscal quarters ended May 4, 2019 and August 3, 2019; and

(3)
our Current Reports on Form 8-K filed March 4, 2019, May 29, 2019, August 26, 2019, September 19, 2019, October 17, 2019 and

October 28, 2019, and amended current report on Form 8-K/A filed April 1, 2019.
Notwithstanding the foregoing, information furnished under Items 2.02 and 7.01 of any current report on Form 8-K, including the related
exhibits under Item 9.01, is not incorporated by reference into this prospectus supplement or the accompanying prospectus.
You may request a copy of these filings (excluding exhibits), at no cost, by writing or calling our Senior Director of Finance-Investor
Relations at the following address or telephone number:
Trina Schurman
Senior Director of Finance-Investor Relations
Nordstrom, Inc.
1617 Sixth Avenue
Seattle, WA 98101
(206) 303-6503

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CAUTIONARY STATEMENTS RELATING TO FORWARD-LOOKING INFORMATION
This prospectus supplement and the accompanying prospectus, and the documents incorporated herein and therein by reference, may contain or
may suggest "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and
Section 21E of the Exchange Act. Additionally, we or our representatives may, from time to time, make other written or verbal forward-looking
statements. Those statements relate to developments, results, conditions or other events we expect or anticipate will occur in the future. We intend such
words as "believes," "anticipates," "may," "will," "should," "could," "plans," "expects" and similar expressions to identify such forward-looking
statements. Actual future results and trends may differ materially from historical results or current expectations depending upon factors including, but not
limited to:
Strategic and Operational

· timely and effective implementation of evolving our business model and successful execution of our customer strategy to provide a

differentiated and seamless experience across all Nordstrom channels,

· our ability to execute and manage the costs of our evolving business model, including the execution of new supply chain capabilities and
enhancement of existing ones, development of applications for electronic devices, improvement of customer-facing technologies, timely

delivery of products purchased digitally, enhancement of inventory management systems, more fluid inventory availability between our
digital channels and retail stores through our local market strategy, and greater consistency in marketing strategies,

· our ability to respond to the business and retail environment, as well as fashion trends and consumer preferences, including changing

expectations of service and experience in stores and online,

· our ability to properly balance our investments in existing and new store locations, technology and supply chain facilities, especially our

investments in our Nordstrom NYC and our Los Angeles market integration,

· successful execution of our information technology strategy, including engagement with third-party service providers,

· our ability to effectively utilize internal and third-party data in strategic planning and decision-making,

· our ability to maintain or expand our presence, including timely completion of construction associated with new, relocated and

remodeled stores, and Supply Chain Network facilities, all of which may be impacted by third parties, consumer demand and other
natural or man-made disruptions,

· efficient and proper allocation of our capital resources,

· effective inventory management processes and systems, fulfillment and supply chain processes and systems, disruptions in our supply

chain and our ability to control costs,

· the impact of any systems or network failures, cybersecurity and/or security breaches, including any security breach of our systems or

those of a third-party provider that results in the theft, transfer or unauthorized disclosure of customer, employee or Company
information or compliance with information security and privacy laws and regulations in the event of such an incident,

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· our ability to safeguard our reputation and maintain relationships with our vendors and third-party service providers,

· our ability to maintain relationships with and motivate our employees and to effectively attract, develop and retain our future leaders,

· our ability to realize the expected benefits, respond to potential risks and appropriately manage costs associated with our program

agreement with TD Bank, N.A.,

· the effectiveness of our loyalty program, including the implementation of any changes in our program, planned advertising, marketing

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and promotional campaigns in the highly competitive and promotional retail industry,

· market fluctuations, increases in operating costs, exit costs and overall liabilities and losses associated with owning and leasing real

estate,

· potential goodwill impairment charges, future impairment charges and fluctuations in the fair values of reporting units or of assets in the

event projected financial results are not achieved within expected time frames,

· compliance with debt and operating covenants, availability and cost of credit, changes in our credit rating and changes in interest rates,

· the timing, price, manner and amounts of future share repurchases by us, if any, or any share issuances by us,
Economic and External

· the impact of the seasonal nature of our business and cyclical customer spending,

· the impact of economic and market conditions and the resultant impact on consumer spending and credit patterns,

· the impact of economic, environmental or political conditions in the U.S. and countries where our third-party vendors operate,

· weather conditions, natural disasters, health hazards, national security or other market and supply chain disruptions, including the effects

of tariffs, or the prospects of these events and the resulting impact on consumer spending patterns or information technology systems and
communications,
Legal and Regulatory

· our compliance with applicable domestic and international laws, regulations and ethical standards, including those related to employment

and tax, information security and privacy, consumer credit and the outcome of any claims and litigation and resolution of such matters,

· the impact of the current regulatory environment and financial system, health care and tax reforms,

· the impact of changes in accounting rules and regulations, changes in our interpretation of the rules or regulations, or changes in

underlying assumptions, estimates or judgments,

· the impact of claims, litigation and regulatory investigations, including those related to information security, privacy and consumer

credit.

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These and other factors, including those factors described in Item 1A. Risk Factors to our Annual Report on Form 10-K for the fiscal year
ended February 2, 2019, which is incorporated by reference into this prospectus supplement and the accompanying prospectus, and the "Risk Factors"
section elsewhere in this prospectus supplement, could affect our financial results and cause our actual results to differ materially from any forward-looking
information we may provide. Forward-looking statements relate to the date made, and we undertake no obligation to update or revise them to reflect
subsequent events, new information or future circumstances.

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SUMMARY
This is only a summary and therefore does not contain all the information that may be important to you. Before deciding whether or not to
purchase the notes, you should read this entire prospectus supplement, the accompanying prospectus and the documents incorporated by reference in
this prospectus supplement and the accompanying prospectus carefully, including the "Risk Factors" section elsewhere in this prospectus supplement,
"Item 1A. Risk Factors" in our Annual Report on Form 10-K for the year ended February 2, 2019 and our consolidated financial statements and
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related notes.
The Company
Founded in 1901 as a retail shoe business in Seattle, Nordstrom later incorporated in Washington State in 1946 and went on to become
one of the leading fashion retailers based in the U.S. We aspire to be the best fashion retailer in a digital world by remaining focused on our
customers, serving them through our three strategic pillars: providing a compelling product offering, delivering outstanding services and experiences
and leveraging the strength of the Nordstrom brand. We offer an extensive selection of high-quality brand-name and private label merchandise
focused on apparel, shoes, cosmetics and accessories. No matter how customers choose to shop, we are committed to delivering the best possible
service, product and experience, including alterations, dining and styling, to make shopping fun, personalized and convenient.
We invested early in our omni-channel capabilities, integrating our operations, merchandising and technology across our stores and
online, in both our Full-Price and Off-Price businesses. As of August 3, 2019, we have more than 60 combinations in which merchandise is ordered,
fulfilled and delivered. Though this has enabled us to serve customers in multiple ways, we are focused on providing a seamless experience for our
customer across stores and online. As a result of the evolution of our operations, our reportable segments have become progressively more integrated
such that, in the first quarter of 2018, we changed our reportable segments to one reportable segment to align with how management views the results
of our operations.
As of August 3, 2019, our reportable segment, Retail, includes:
Full-Price

· 113 Nordstrom-branded full-line stores in the U.S.,

· Six full-line and six Rack stores in Canada,

· Full-Price Nordstrom.com website and mobile application,

· Trunkclub.com website and six Trunk Club clubhouses,

· Three Jeffrey boutiques, and

· Three Nordstrom Local neighborhood hubs ("Nordstrom Local").
Our Full-Price operating segment integrates Nordstrom full-line stores and Nordstrom.com to allow us to provide our customers with a
seamless shopping experience. We engage with our customers on their terms, blurring the lines between the digital and in-store experience. Our
customers can pick up online orders in our Nordstrom full-line stores if inventory is available or it can be shipped to that location. Full-Price also
includes our full-line and Rack stores in Canada. We include our Canada operations in Full-Price as this is how we view and manage our operations
internally. Trunk Club offers personalized styling services for men and women,

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which enables customers to shop and try on at home, paying only for what they decide to keep. Customers may also choose to shop using these
personalized styling services in-person at our clubhouses. We provide customers with the same quality merchandise available at Nordstrom full-line
stores and online. Nordstrom Local is a retail concept that is focused on services, providing customers convenient access to personal stylists,
alterations, online orders and more. Trunk Club stylists are able to meet customers at select full-line and Nordstrom Local locations. We also leverage
the expertise of our salespeople to enable customers to receive personalized product recommendations on their mobile phones through our digital Style
Board selling tool. These capabilities allow us to better serve customers across various channels and improve sales.
Off-Price

· 242 Off-Price Nordstrom Rack stores in the U.S.,

· Off-Price Nordstromrack.com/HauteLook website and mobile application, and

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· Two Last Chance clearance stores.
In Off-Price, Nordstrom Rack and Nordstromrack.com purchase merchandise primarily from the same vendors carried in our Full-Price
channel and also serve as outlets for clearance merchandise from the Full-Price channel. Nordstromrack.com/HauteLook offers both a persistent
selection of Off-Price merchandise, as well as limited-time flash sale events on fashion and lifestyle brands, and is integrated with a single customer
log-in, shared shopping cart and streamlined checkout process. Nordstromrack.com combines the technology expertise of HauteLook with the
merchant expertise of Nordstrom Rack.
Fiscal Year
We operate on a 52/53-week fiscal year ending on the Saturday closest to January 31st.
Return Policy
We have a fair and reasonable approach to returns, handling them on a case-by-case basis with the ultimate objective of making our
customers happy. We have no formal policy on how long we accept returns at our Nordstrom full-line stores or Nordstrom.com. Our goal is to take
care of our customers, which includes making returns and exchanges easy, whether in stores or online, where we offer free shipping on purchases and
returns. Trunk Club accepts returns within five days of delivery, which are free for the customer if the items are returned in the box provided by Trunk
Club with the original price tag and packaging. Our Nordstrom Rack stores and Nordstromrack.com/HauteLook generally accept returns of apparel,
footwear, accessories and HauteLook home products up to 45 days from the date of purchase or date of shipment with the original price tag and sales
receipt. Off-Price merchandise can be returned by mail or at any Nordstrom Rack store location.
Seasonality
Our business, like that of other retailers, is subject to seasonal fluctuations. Our sales are typically higher during our Anniversary Sale in
July and the holidays in the fourth quarter. Beginning in 2018, our Anniversary Sale occurred in our second fiscal quarter. In 2017, our Anniversary
Sale occurred in our second and third fiscal quarters. Results for any one quarter are not indicative of the results that may be achieved for a full fiscal
year.
Loyalty Program
We evolved our customer loyalty program with the launch of The Nordy Club in October 2018, which incorporates a traditional point
system and the favorite benefits of our previous program, while providing

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customers exclusive access to products and events, enhanced services, personalized experiences and more convenient ways to shop. Customers
accumulate points based on their level of spending and type of participation. Upon reaching certain point thresholds, customers receive Nordstrom
Notes, which can be redeemed for goods or services offered at Nordstrom full-line stores, Nordstrom.com, Nordstrom Rack and
Nordstromrack.com/HauteLook. Nordstrom cardmembers can also earn rewards at Trunk Club. The Nordy Club member benefits will vary based on
the level of customer spend, and include Bonus Points days and shopping and fashion events.
We offer customers access to a variety of payment products and services, including a selection of Nordstrom-branded Visa® credit cards
in the U.S. and Canada, as well as a Nordstrom-branded private label credit card for Nordstrom purchases. When customers use a Nordstrom-branded
credit or debit card, they also participate in The Nordy Club and receive additional benefits, which can vary depending on the level of spend,
including early access to the Anniversary Sale, Nordstrom to You (an in-home stylist) and incremental accumulation of points toward Nordstrom
Notes.
Competitive Conditions
We operate in a highly competitive business environment. We compete with other international, national, regional and local retailers,
including internet-based businesses, omni-channel department stores, specialty stores, off-price stores and boutiques, which may carry similar lines of
merchandise. Our specific competitors vary from market to market. We believe the keys to competing in our industry are what will always matter
most to our customers: providing compelling product and outstanding service backed by people who care, both digitally and in stores. This includes
serving customers on their terms, by providing a seamless digital and physical experience, offering compelling, curated and quality products at
multiple price points, and strategically partnering with relevant and limited distribution brands, all in top markets.
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Supply Chain Network
Our "Supply Chain Network" consists of:

· Fulfillment centers that process and ship orders to our customers, located in Cedar Rapids, Iowa; Elizabethtown, Pennsylvania; and

San Bernardino, California,

· Distribution centers that process and ship merchandise to our stores and other facilities, and

· Omni-channel centers that both fulfill customer orders and ship merchandise to our stores.
We have expanded our Supply Chain Network facilities and enhanced our inventory management systems to support our omni-channel
capabilities and provide greater access to merchandise selection and faster delivery. We select locations and customize inventory allocations to enable
merchandise to flow more efficiently and quickly to our customers.
Full-Price online purchases are primarily shipped to our customers from our Fulfillment Centers but may also be shipped from our
Nordstrom full-line stores or Omni-channel centers. Full-Price in-store purchases are primarily fulfilled from that store's inventory, but when
inventory is unavailable at that store, it may also be shipped to our customers from our Fulfillment Centers, Omni-channel centers, or from other
Nordstrom full-line stores. Off-Price online purchases are shipped to our customers from our Fulfillment Centers. Both channels selectively use
vendor dropship to supplement their online offerings, which are then shipped directly from the vendor to the end customer. Our first large-scale
Omni-channel center, in Riverside, California, is expected to open in the spring of 2020 and will initially support our Full-Price customers in the
West Coast region. Off-Price inventory and fulfillment will be added to this facility in the future. We also plan to open a smaller Local Omni-channel
Hub in Torrance, California in 2019, which will support the greater Los Angeles market as part of our new local market strategy and will have highly
customized inventory that serves the specialized needs of that market.

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Inventory
We plan our merchandise purchases and receipts to coincide with expected sales trends. For instance, our merchandise purchases and
receipts increase prior to our Anniversary Sale, which has historically extended over the last two weeks of July. We also purchase and receive a larger
amount of merchandise in the fall as we prepare for the holiday shopping season (from late November through December). At Nordstrom Rack, we
also invest in pack and hold inventory, which involves the strategic purchase of merchandise from some of our top Full-Price brands in advance of the
upcoming selling seasons, to take advantage of favorable buying opportunities. This inventory is typically held for six months on average.
In order to offer merchandise that our customers want, we purchase from a wide variety of high-quality domestic and foreign suppliers.
We also have arrangements with agents and contract manufacturers to produce our private label merchandise. We expect our suppliers to meet our
"Nordstrom Partnership Guidelines," which address our corporate social responsibility standards for matters such as legal and regulatory compliance,
labor, health and safety and the environment. This is available on our website at Nordstrom.com.
Employees
During 2018, we employed approximately 71,000 employees on a full- or part-time basis. Due to the seasonal nature of our business,
employment increased to approximately 76,000 employees in July 2018 and 74,000 in December 2018. All of our employees are non-union. We
believe our relationship with our employees is good.
Trademarks
Our most notable trademarks include Nordstrom, Nordstrom Rack, HauteLook, Trunk Club, Halogen, BP., Caslon, Zella, Leith, 1901,
Treasure & Bond, Tucker+Tate and 14th & Union. Each of our trademarks is renewable indefinitely, provided that it is still used in commerce at the
time of the renewal.
Nordstrom, Inc. common stock is publicly traded on the NYSE under the symbol "JWN." Our executive offices are located at 1617 Sixth
Avenue, Seattle, Washington 98101 and our telephone number is (206) 628-2111. The information contained in or connected to our website is not
part of this prospectus supplement or the accompanying prospectus.
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424B5

S-7
Table of Contents
The Offering
The following summary contains basic information about the notes. It does not contain all the information that may be important to you.
For a more complete understanding of the notes, please refer to the section of this prospectus supplement entitled "Description of the Notes" and the
section of the accompanying prospectus entitled "Description of Debt Securities."

Issuer
Nordstrom, Inc.

Notes Offered
4.375% Senior Notes due 2030.

Maturity Date
The notes will mature on April 1, 2030.

Interest
Interest on the notes will accrue from the date of their issuance at the rate set forth on the
cover page of this prospectus supplement and will be payable semi-annually, in arrears, on
April 1 and October 1 of each year, commencing April 1, 2020.

Optional Redemption of Notes
Prior to January 1, 2030, we may redeem the notes at our option, at any time in whole or
from time to time in part, at a redemption price equal to the greater of:

· 100% of the principal amount of the notes being redeemed; and

· The sum of the present values of the remaining scheduled payments of principal and
interest on the notes to be redeemed that would be due if such notes mature on January 1,
2030 (exclusive of interest accrued to the date of redemption), discounted to the date of

redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day
months) at the applicable Treasury Rate (as defined in this prospectus supplement) plus
40 basis points,

plus, in either case, the accrued and unpaid interest on the notes being redeemed to, but not

including, the date of redemption.

In addition, at any time on or after January 1, 2030, we may redeem some or all of the notes

at a price equal to 100% of the principal amount of the notes being redeemed plus accrued
and unpaid interest thereon to, but not including, the date of redemption.

Repurchase at the Option of Holders Upon a Change of If we experience a "Change of Control Repurchase Event" (as defined in this prospectus
Control Repurchase Event
supplement), we will be required, unless we have exercised our right to redeem the notes, to
offer to purchase the notes at a purchase price equal to 101% of their principal amount, plus
accrued and unpaid interest, if any, to, but not including, the purchase date.

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Table of Contents
Covenants
The indenture, pursuant to which the notes will be issued, contains certain covenants that
will, among other things, limit our ability and the ability of certain of our subsidiaries to
incur certain liens, enter into sale and leaseback transactions or consolidate, merge or transfer
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Document Outline

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