Obbligazione Procter & Gamble Inc. 0% ( US742718DG17 ) in USD

Procter & Gamble Inc.

100 USD ▼

Stati Uniti

US742718DG17 ( in USD )

0%

09/11/2057

Prospetto opuscolo dell'obbligazione Procter & Gamble US742718DG17 en USD 0%, scadenza 09/11/2057

1 000 USD

50 000 000 USD

742718DG1

N/A

Aa3 ( High grade - Investment-grade )

Procter & Gamble è una multinazionale statunitense leader nel settore dei beni di consumo, produttrice di marchi famosi a livello mondiale in diversi ambiti come cura della persona, pulizia della casa e cura dei bambini.

The Obbligazione issued by Procter & Gamble Inc. ( United States ) , in USD, with the ISIN code US742718DG17, pays a coupon of 0% per year.
The coupons are paid 2 times per year and the Obbligazione maturity is 09/11/2057

The Obbligazione issued by Procter & Gamble Inc. ( United States ) , in USD, with the ISIN code US742718DG17, was rated Aa3 ( High grade - Investment-grade ) by Moody's credit rating agency.

The Procter & Gamble Company 424(b)(5)
424B5 1 l28662be424b5.htm THE PROCTER & GAMBLE COMPANY 424(B)(5)
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The Procter & Gamble Company 424(b)(5)
Table of Contents
Filed Pursuant to Rule 424(b)(5)
Registration No. 333-145938

Title of Each Class of

Maximum Aggregate

Amount of Registration
Securities Offered

Offering Price

Fee(1)
Floating Rate Notes due 2057

$
50,000,000
$

1,535
(1) The filing fee of $1,535 is calculated in accordance with Rule 457(r) of the Securities Act of 1933. Pursuant to
Rule 457(p) under the Securities Act of 1933, the (a) $272,577 remaining of the filing fee previously paid with
respect to unsold securities registered pursuant to a Registration Statement on Form S-3 (No. 333-113515) filed
by The Procter & Gamble Company on March 11, 2004, and (b) $36,800 remaining of the filing fee previously
paid with respect to unsold securities registered pursuant to a Registration Statement on Form S-3 (No. 333-
101112) filed by The Gillette Company on November 8, 2002, are being carried forward, of which $1,535 is
offset against the registration fee due for this offering and of which $307,842 in the aggregate remains available
for future registration fees. No additional registration fee has been paid with respect to this offering.
PROSPECTUS SUPPLEMENT
(To Prospectus dated September 7, 2007)
$50,000,000
The Procter & Gamble Company
Floating Rate Notes due 2057
We will pay interest on the notes on February 9, May 9, August 9 and November 9 of each year and on the
maturity date. The first interest payment date is February 9, 2008. Interest on each note will be reset on February 9,
May 9, August 9 and November 9 of each year, beginning on February 9, 2008, based on the 3-month LIBOR rate
less 0.30%. The stated maturity of the notes is November 9, 2057.
We have the right to redeem all or a portion of the notes beginning on November 9, 2037 and at any time
thereafter at the redemption prices listed in this prospectus supplement, plus accrued interest on the notes to the date
we redeem the notes.
The holders of the notes may require us to repurchase all or a portion of the notes on November 9, 2008, on
every November 9 thereafter through and including November 9, 2018, and thereafter on November 9 of every
subsequent third year, at the redemption prices listed in this prospectus supplement, plus accrued interest on the notes
to the date we repurchase the notes.
If there is a "tax event," we have the right to shorten the maturity of the notes to the extent needed, so that the
interest we pay on the notes will be deductible for United States federal income tax purposes. On the new maturity
date, we will pay 100% of the principal amount of the notes, plus accrued interest on the notes to the new maturity
date.
Investing in the notes involves risks. See "Risk Factors" beginning on page S-3.
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The Procter & Gamble Company 424(b)(5)

Per Note
Total
Public offering price (1)

100%
$50,000,000
Underwriting discount

1%
$ 500,000
Proceeds, before expenses, to Procter & Gamble

99%
$49,500,000
(1) Plus accrued interest from November 9, 2007, if settlement occurs after that date.
Neither the Securities and Exchange Commission nor any state securities commission has approved or
disapproved of these securities or determined if this prospectus supplement or the accompanying prospectus is
truthful or complete. Any representation to the contrary is a criminal offense.
The notes will be ready for delivery in book-entry form only through The Depository Trust Company on or
about November 9, 2007.
UBS Investment Bank
The date of this prospectus supplement is November 6, 2007.

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The Procter & Gamble Company 424(b)(5)

TABLE OF CONTENTS
Prospectus Supplement

Page

About this Prospectus Supplement

S-1
The Company

S-2
Risk Factors

S-3
Summary Consolidated Financial Information

S-5
Consolidated Ratio of Earnings to Fixed Charges

S-6
Capitalization

S-7
Description of the Notes

S-8
Underwriting

S-17
Validity of the Notes

S-18
Available Information

S-18
Incorporation of Documents by Reference

S-18

Prospectus

The Procter & Gamble Company

1
Procter & Gamble International Funding SCA

1
Forward-Looking Statements

2
Use of Proceeds

3
Description of Procter & Gamble Debt Securities

4
Description of PGIF Debt Securities

12
Plan of Distribution

23
Legal Opinions

25
Experts

25
Where You Can Find More Information

25

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The Procter & Gamble Company 424(b)(5)
Table of Contents
ABOUT THIS PROSPECTUS SUPPLEMENT
This prospectus supplement contains the terms of this offering of notes. This prospectus supplement, or
the information incorporated by reference in this prospectus supplement, may add to, update or change the
information in the accompanying prospectus. If information in this prospectus supplement, or the information
incorporated by reference in this prospectus supplement, is inconsistent with the accompanying prospectus,
this prospectus supplement, or the information incorporated by reference in 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 in this prospectus supplement and
the accompanying prospectus in making your investment decision. You should also read and consider the
information in the documents we have referred you to in "Incorporation of Documents By Reference" in this
prospectus supplement.
No person is authorized to give any information or to make any representations other than those
contained or incorporated by reference in this prospectus supplement or the accompanying prospectus and, if
given or made, such information or representations must not be relied upon as having been authorized. This
prospectus supplement and the accompanying prospectus do not constitute an offer to sell or the solicitation of
an offer to buy any securities other than the securities described in this prospectus supplement or an offer to
sell or the solicitation of an offer to buy such securities in any circumstances in which such offer or solicitation
is unlawful. Neither the delivery of this prospectus supplement or the accompanying prospectus, nor any sale
made hereunder or thereunder shall, under any circumstances, create any implication that there has been no
change in our affairs since the date of this prospectus supplement or the accompanying prospectus, or that the
information contained or incorporated by reference herein or therein 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 on behalf of the underwriter, 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. See "Underwriting."
Unless otherwise specified, all references in this prospectus supplement to: (a) "Procter & Gamble," "the
Company," "we," "us," and "our" are to The Procter & Gamble Company and its subsidiaries; (b) "fiscal"
followed by a specific year are to our fiscal year ended or ending June 30 of that year; and (c) "U.S. dollars,"
"dollars," "U.S. $" or "$" are to the currency of the United States of America.
S-1
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The Procter & Gamble Company 424(b)(5)
Table of Contents
THE COMPANY
The Procter & Gamble Company was incorporated in Ohio in 1905, having been built from a business founded
in 1837 by William Procter and James Gamble. Today, we manufacture and market a broad range of consumer
products in many countries throughout the world. Our principal executive offices are located at One Procter &
Gamble Plaza, Cincinnati, Ohio 45202, and our telephone number is (513) 983-1100.
In the United States, as of June 30, 2007, the Company owned and operated 39 manufacturing facilities. These
facilities were located in 23 different states. In addition, the Company owned and operated 105 manufacturing
facilities in 41 other countries. Many of the domestic and international facilities produced products for multiple
businesses.
S-2
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The Procter & Gamble Company 424(b)(5)
Table of Contents
RISK FACTORS
We discuss our expectations regarding future performance, events and outcomes, such as our business outlook
and objectives in this document, as well as in our annual report and quarterly reports, press releases and other written
and oral communications. All statements, except for historical and present factual information, are "forward-looking
statements" and are based on financial data and business plans available only as of the time the statements are made,
which may become out of date or incomplete. We assume no obligation to update any forward-looking statements as
a result of new information, future events, or other factors. Forward-looking statements are inherently uncertain, and
investors must recognize that events could significantly differ from our expectations.
The following discussion of "risk factors" identifies the most significant factors that may adversely affect our
business, operations, financial position or future financial performance. This information should be read in
conjunction with Management's Discussion and Analysis and the consolidated financial statements and related notes
included in our annual report and quarterly reports which are incorporated by reference into this document. The
following discussion of risks is not all inclusive but is designed to highlight what we believe are important factors to
consider when evaluating our expectations. These factors could cause our future results to differ from those in the
forward-looking statements and from historical trends.
A material change in consumer demand for our products could have a significant impact on our business.
We are a consumer products company and rely on continued global demand for our brands and products. To
achieve business goals, we must develop and sell products that appeal to consumers. This is dependent on a number
of factors including our ability to develop effective sales, advertising and marketing programs in an increasingly
fragmented media environment. We expect to achieve our financial targets, in part, by shifting our portfolio towards
faster growing, higher margin businesses. If demand and growth rates fall substantially below expected levels or our
market share declines significantly in these businesses, our results could be negatively impacted. This could occur
due to unforeseen negative economic or political events or to changes in consumer trends and habits. In addition, our
continued success is dependent on leading-edge innovation, with respect to both products and operations. This means
we must be able to obtain patents that lead to the development of products that appeal to our consumers across the
world.
The ability to achieve our business objectives is dependent on how well we can respond to our local and global
competitors.
Across all of our categories, we compete against a wide variety of global and local competitors. As a result,
there are ongoing competitive product and pricing pressures in the environments in which we operate, as well as
challenges in maintaining profit margins. To address these challenges, we must be able to successfully respond to
competitive factors, including pricing, promotional incentives and trade terms, as well as technological advances and
patents granted to competition.
Our ability to successfully integrate key acquisitions, primarily Gillette, could impact our business results.
Since our goals include a growth component tied to acquisitions, we must be able to successfully manage and
integrate key acquisitions, such as the acquisition of The Gillette Company. Specifically, we must be able to integrate
acquisitions without any significant disruption to our ability to manage and execute business plans on our base
businesses. In addition, our financial results could be adversely impacted if we are not able to deliver the expected
cost and growth synergies associated with our acquisitions.
Our businesses face cost pressures which could affect our business results.
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The Procter & Gamble Company 424(b)(5)
Our costs are subject to fluctuations, particularly due to changes in commodity prices, raw materials, cost of
labor, foreign exchange and interest rates. Our costs in 2007 were impacted by higher commodity costs and this trend
is likely to continue in 2008. Therefore, our success is dependent, in part, on our continued ability to manage these
fluctuations through pricing actions, cost savings projects (including outsourcing projects), sourcing decisions and
S-3
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The Procter & Gamble Company 424(b)(5)
Table of Contents
certain hedging transactions. In the manufacturing and general overhead areas, we need to maintain key
manufacturing and supply arrangements, including sole supplier and sole manufacturing plant arrangements.
We face risks associated with significant international operations.
We conduct business across the globe with a significant portion of our sales outside the United States. We
expect to achieve our financial targets, in part, by achieving disproportionate growth in developing regions. Should
growth rates or our market share fall substantially below expected levels in these regions, our results could be
negatively impacted. In addition, economic changes, terrorist activity and political unrest may result in business
interruption, inflation, deflation or decreased demand for our products. Our success will depend in part on our ability
to manage continued global political and/or economic uncertainty, especially in our significant geographical markets,
as well as any political or economic disruption due to terrorist and other hostile activities.
Our business is subject to regulation in the United States and abroad.
Changes in laws, regulations and the related interpretations may alter the environment in which we do
business. This includes changes in environmental, competitive and product-related laws, as well as changes in
accounting standards and taxation requirements. Accordingly, our ability to manage regulatory, tax and legal matters
(including product liability, patent, and intellectual property matters as well as those related to the integration of
Gillette and its subsidiaries) and to resolve pending matters within current estimates may impact our results.
If the reputation of one or more of our leading brands erodes significantly, it could have a material impact on
our financial results.
Our Company's financial success is directly dependent on the success of our brands, particularly our billion-
dollar brands. The success of these brands can suffer if our marketing plans or product initiatives do not have the
desired impact on a brand's image or its ability to attract consumers. Further, our Company's results could be
impacted if one of our leading brands suffers a substantial impediment to its reputation due to real or perceived
quality issues.
A material change in customer relationships or in customer demand for our products could have a significant
impact on our business.
Our success is dependent on our ability to successfully manage relationships with our retail trade customers.
This includes our ability to offer trade terms that are acceptable to our customers and are aligned with our pricing and
profitability targets. Our business could suffer if we cannot reach agreement with a key customer based on our trade
terms and principles. Further, there is a continuing trend towards retail trade consolidation and this leads to more
complex work across broader geographic boundaries for both us and key retailers. This can be particularly difficult
when major customers are addressing local trade pressures or local law and regulation changes. Further, our business
would be negatively impacted if a key customer were to significantly reduce the range or inventory level of our
products.
S-4
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The Procter & Gamble Company 424(b)(5)
Table of Contents
SUMMARY CONSOLIDATED FINANCIAL INFORMATION
The following summary consolidated financial information for the quarters ended September 30, 2007 and
September 30, 2006 has been derived from our unaudited consolidated financial statements contained in our
Quarterly Report on Form 10-Q for the quarter ended September 30, 2007. The summary consolidated financial
information for the fiscal year ended June 30, 2007 has been derived from our audited consolidated financial
statements contained in our Annual Report on Form 10-K for the fiscal year ended June 30, 2007. The results for the
interim period ended September 30, 2007 are not necessarily indicative of the results for the full fiscal year.

Three Months Ended September 30,

2007

2006

(Amounts in Millions Except Per

Share Amounts)

NET SALES

$
20,199
$
18,785
Cost of products sold

9,519

8,865
Selling, general and administrative expense

6,262

5,866

OPERATING INCOME

4,418

4,054
Interest expense

359

358
Other non-operating income, net

193

180

EARNINGS BEFORE INCOME TAXES

4,252

3,876
Income taxes

1,173

1,178

NET EARNINGS

$
3,079
$
2,698

PER COMMON SHARE:

Basic net earnings

$
0.97
$
0.84
Diluted net earnings

$
0.92
$
0.79
Dividends

$
0.35
$
0.31
DILUTED WEIGHTED AVERAGE COMMON SHARES
OUTSTANDING

3,354.2

3,413.3

As of

As of
September 30,
June 30,

2007

2007

(Amounts in Millions)
WORKING CAPITAL

$ (5,692)
$ (6,686)
TOTAL ASSETS

$ 141,703
$ 138,014
LONG-TERM DEBT

$ 22,172
$ 23,375
SHAREHOLDERS' EQUITY

$ 67,559
$ 66,760
S-5
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