Obbligazione Walton Inc. 6.2% ( US931142CM31 ) in USD

Walton Inc.

113.111 USD ▼

Stati Uniti

US931142CM31 ( in USD )

6.2% per anno ( pagato 2 volte l'anno)

14/04/2038

Prospetto opuscolo dell'obbligazione Walmart Inc US931142CM31 en USD 6.2%, scadenza 14/04/2038

2 000 USD

1 500 000 000 USD

931142CM3

AA ( High grade - Investment-grade )

Aa2 ( High grade - Investment-grade )

15/04/2026 ( In 11 giorni )

Walmart Inc. è una multinazionale americana della grande distribuzione, leader mondiale nel settore retail con attività che includono ipermercati, supermercati, e-commerce e altri servizi.

The Obbligazione issued by Walton Inc. ( United States ) , in USD, with the ISIN code US931142CM31, pays a coupon of 6.2% per year.
The coupons are paid 2 times per year and the Obbligazione maturity is 14/04/2038

The Obbligazione issued by Walton Inc. ( United States ) , in USD, with the ISIN code US931142CM31, was rated Aa2 ( High grade - Investment-grade ) by Moody's credit rating agency.

The Obbligazione issued by Walton Inc. ( United States ) , in USD, with the ISIN code US931142CM31, was rated AA ( High grade - Investment-grade ) by Standard & Poor's ( S&P ) credit rating agency.

Final Prospectus Supplement
424B2 1 d424b2.htm FINAL PROSPECTUS SUPPLEMENT
Table of Contents
Filed Pursuant to Rule 424(b)(2)
SEC File No. 333-130569
CALCULATION OF REGISTRATION FEE

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

Offering Price

Registration Fee(1)(2)
Debt Securities

$2,500,000,000

$98,250.00

(1) Calculated in accordance with Rule 457(r) under the Securities Act of 1933.
(2) This "Calculation of Registration Fee" table shall be deemed to update the "Calculation of
Registration Fee" table in the Company's Registration Statement on Form S-3 (File No. 333-130569) in
accordance with Rules 456(b) and 457(r) under the Securities Act of 1933.
Prospectus Supplement
To Prospectus dated December 21, 2005
$2,500,000,000
Wal-Mart Stores, Inc.
$1,000,000,000 4.250% Notes Due 2013
$1,500,000,000 6.200% Notes Due 2038

We are offering $1,000,000,000 of our 4.250% notes due 2013 and $1,500,000,000 of our 6.200%
notes due 2038.
We will pay interest on the notes of each series on April 15 and October 15 of each year, beginning on
October 15, 2008. Interest on the notes of each series will accrue from April 15, 2008. The 2013 notes
will mature on April 15, 2013, and the 2038 notes will mature on April 15, 2038.
The notes of each series will be our senior unsecured debt obligations and will rank equally with our
other senior unsecured indebtedness. The notes of each series will not be convertible or
exchangeable. The notes will not be redeemable except upon the occurrence of certain events relating
to U.S. taxation as described under "Description of the Notes Redemption upon Tax Event" in this
prospectus supplement.

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Final Prospectus Supplement

Neither the Securities and Exchange Commission nor any regulatory body has approved or
disapproved of these securities or passed on the accuracy or adequacy of this prospectus
supplement or the accompanying prospectus. Any representation to the contrary is a criminal
offense.

Per 2013
Per 2038

Note
Note
Total
Initial public offering price

99.759%
99.703% $2,493,135,000
Underwriting discount

0.350%
0.875% $
16,625,000
Proceeds, before expenses, to Wal-Mart Stores, Inc.
99.409%
98.828% $2,476,510,000

The notes will not be listed on any securities exchange. Currently, there is no public market for the
notes.
The underwriters expect to deliver the notes in book-entry form only through the facilities of The
Depository Trust Company and its participants, including Clearstream Banking, société anonyme and
Euroclear Bank S.A./N.V., against payment on or about April 15 , 2008.
Joint Book-Running Managers
Citi
Credit Suisse
Goldman, Sachs & Co.

RBS Greenwich Capital
Co-Managers
Banc of America Securities LLC

Barclays Capital
BBVA Securities

BNP PARIBAS
Deutsche Bank Securities

Dresdner Kleinwort
HSBC

JPMorgan
Lehman Brothers

Mitsubishi UFJ Securities
Mizuho Securities USA Inc.

Morgan Stanley
Santander Investment

Standard Chartered Bank
TD Securities

UBS Investment Bank
Wachovia Securities

Prospectus Supplement dated April 8, 2008
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Final Prospectus Supplement
Table of Contents
TABLE OF CONTENTS
Prospectus Supplement

Page
Wal-Mart Stores, Inc.

S-3
Use of Proceeds

S-4
Capitalization

S-4
Selected Financial Data

S-5
Ratio of Earnings to Fixed Charges

S-6
Description of the Notes

S-7
Book-Entry Issuance

S-9
Tax Consequences to Holders
S-10
Underwriting
S-11
Validity of the Notes
S-15
Experts
S-15
General Information
S-15
Prospectus

About this Prospectus

2
Where You Can Find More Information

3
Cautionary Statement Regarding Forward-Looking Statements and Information

4
Wal-Mart Stores, Inc.

6
Ratio of Earnings to Fixed Charges

6
Use of Proceeds

7
Description of the Debt Securities

8
Book-Entry Issuance

21
Tax Consequences to Holders

25
Plan of Distribution

33
Legal Matters

36
Experts

36
You should rely on the information contained in this prospectus supplement and contained or
incorporated by reference into the accompanying prospectus. No one has been authorized to provide
you with different information. If this prospectus supplement is inconsistent with the accompanying
prospectus, you should rely on the information contained in this prospectus supplement.
This prospectus supplement and the accompanying prospectus may only be used in connection with
the offering of the notes.
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Final Prospectus Supplement
The distribution of this prospectus supplement and the accompanying prospectus and the offering or
sale of the notes in some jurisdictions may be restricted by law. Persons into whose possession this
prospectus supplement and the accompanying prospectus come are required by us and the
underwriters to inform themselves about and to observe any applicable restrictions. This prospectus
supplement and the accompanying prospectus may not be used for or in connection with an offer or
solicitation by any person in any jurisdiction in which that offer or solicitation is not authorized or
delivered to any person to whom it is unlawful to make that offer or solicitation. See "Underwriting" in
this prospectus supplement.
In connection with the offering of the notes, the joint book-running managers and their respective
affiliates may over-allot or otherwise effect transactions that stabilize or maintain the market price of
the notes of one or more series at levels above those that might otherwise prevail in the open market.
Such transactions may be effected in the over-the-counter markets or otherwise. Stabilization, if
commenced, may be discontinued at any time without notice as to the notes of either or both series.

S-2
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Final Prospectus Supplement
Table of Contents
WAL-MART STORES, INC.
We are a global retailer, with total net sales of $374.5 billion in our fiscal year ended January 31, 2008.
We operate retail stores in various formats around the world, serving our customers through the
operation of three business segments:

Y our Wal-Mart Stores segment, which includes our supercenters, discount stores and

Neighborhood Markets in the United States;

Y our Sam's Clubs segment, which includes our warehouse membership Clubs in the United

States; and

Y the International segment of our business.
We currently operate in all 50 states of the United States, as well as in Argentina, Brazil, Canada,
Costa Rica, El Salvador, Guatemala, Honduras, Japan, Mexico, Nicaragua, Puerto Rico and the
United Kingdom, and in China through joint ventures. We also plan to commence operations in India
through a joint venture. As of January 31, 2008, we operated in the United States:

Y 2,447 supercenters;

Y 971 discount stores;

Y 132 Neighborhood Markets; and

Y 591 Sam's Clubs.
As of January 31, 2008, we operated 21 units in Argentina, 313 units in Brazil, 305 units in Canada,
457 units in Central America, 394 units in Japan, 1,023 units in Mexico, 54 units in Puerto Rico, 352
units in the United Kingdom and, through joint ventures, 202 units in China. The units in those
countries include various retail formats and, in Mexico, restaurants. Our operations in Central America,
Japan and Mexico are conducted through majority-owned subsidiaries.
Wal-Mart Stores, Inc. is the parent company of a group of subsidiary companies, including Asda Group
Limited, The Seiyu, Ltd., Wal-Mart de Mexico, S.A. de C.V., Wal-Mart Central America, Sam's West,
Inc., Sam's East, Inc., Wal-Mart Stores East, LP, Sam's Property Co., Wal-Mart Property Co., Wal-
Mart Real Estate Business Trust and Sam's Real Estate Business Trust. The information presented
above relates to our operations and our subsidiaries on a consolidated basis.

S-3
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Final Prospectus Supplement
Table of Contents
USE OF PROCEEDS
We estimate that the net proceeds from the sale of the notes will be approximately $2,476,360,000
after underwriting discounts and payment of transaction expenses.
We will use the net proceeds from the sale of the notes for general corporate purposes.
CAPITALIZATION
The following table presents the consolidated capitalization of Wal-Mart Stores, Inc. and its
subsidiaries at January 31, 2008 and as adjusted to give effect to the offering of the notes being
offered hereby.

January 31, 2008

Actual
As Adjusted

(in millions)
Short-term debt

Commercial paper

$ 5,040 $
5,040
Long-term debt due within one year

5,913
5,913
Obligations under capital leases due within one year

316
316

Total short-term debt and capital lease obligations

11,269
11,269
Long-term debt

4.250% notes due 2013

--
1,000
6.200% notes due 2038

--
1,500
Other long-term debt

29,799
29,799
Long-term obligations under capital leases

3,603
3,603

Total long-term debt and capital lease obligations

33,402
35,902
Shareholders' equity

Common stock and capital in excess of par value

3,425
3,425
Retained earnings

57,319
57,319
Accumulated other comprehensive income

3,864
3,864

Total shareholders' equity

64,608
64,608

Total debt and capital lease obligations and shareholders'
equity

$109,279 $ 111,779

We are offering the notes pursuant to our shelf registration statement on file with the SEC (Registration
No. 333-130569), of which the accompanying prospectus and this prospectus supplement are deemed
to be a part. No limit exists on the amount of our debt securities that we may offer and sell pursuant to
that shelf registration statement.

S-4
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Final Prospectus Supplement
Table of Contents
SELECTED FINANCIAL DATA
The following table presents selected financial data of Wal-Mart Stores, Inc. and its subsidiaries for the
fiscal years specified.

Fiscal Years Ended January 31,

2008

2007

2006

2005

2004

(in millions)
Income Statement Data:

Net sales
$374,526 $344,992 $308,945 $281,488 $252,792
Cost of sales
286,515 264,152 237,649 216,832 195,922
Operating, selling, general and
administrative expenses
70,288 64,001 55,739 50,178 43,877
Interest expense, net

1,798
1,529
1,178
980
825
Income from continuing operations
12,844 12,178 11,408 10,482
9,096
Net income
12,731 11,284 11,231 10,267
9,054

As of January 31,

2008

2007

2006

2005

2004

(in millions)
Balance Sheet Data:

Current assets of continuing operations
$ 47,585 $ 46,982 $ 43,752 $ 37,913 $ 33,548
Inventories
35,180 33,685 31,910 29,419 26,263
Property, equipment and capital lease
assets, net
97,017 88,440 77,865 66,549 57,591
Total assets of continuing operations
163,514 151,587 136,230 117,139 102,455
Current liabilities of continuing operations
58,454 52,148 48,954 42,609 37,308
Long-term debt
29,799 27,222 26,429 20,087 17,088
Long-term obligations under capital leases
3,603
3,513
3,667
3,073
2,888
Shareholders' equity
64,608 61,573 53,171 49,396 43,623
The above selected financial data as of and for the fiscal years ended January 31, 2006, 2005 and
2004 have been restated to reflect the dispositions of our operations in South Korea and Germany,
both of which were consummated in the quarter ended October 31, 2006. The amounts related to our
South Korean and German operations, including our gain on the disposition of our South Korean
operations and the loss on our disposition of our German operations and the assets and liabilities of
those operations, have been treated as discontinued operations in our consolidated statements of
income, consolidated statements of cash flows and consolidated balance sheets commencing in the
quarter ended July 31, 2006.
Certain reclassifications have been made to the selected financial data for the four years ended
January 31, 2007 to conform to current presentations.
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Final Prospectus Supplement
Table of Contents
RATIO OF EARNINGS TO FIXED CHARGES
We have modified the manner in which we calculate our ratio of earnings to fixed charges following the
dispositions of our German and South Korean operations as discussed under "Selected Financial
Data" in this prospectus supplement. For the purpose of computing our ratios of earnings to fixed
charges, we now define "earnings" to mean our earnings from continuing operations before income
taxes and fixed charges, excluding capitalized interest and earnings attributable to minority interests
owned by others in our subsidiaries. The information contained under the "Ratio of Earnings to Fixed
Charges" in the accompanying prospectus that describes the manner in which we calculate our ratio of
earnings to fixed charges otherwise remains accurate.
As a result of the change described above, certain reclassifications have been made to financial
information for the periods ended January 31, 2006 to conform to the presentation for the years ended
January 31, 2008 and 2007. In addition, as discussed above under "Selected Financial Data,
restatements have been made of the financial information for the years ended January 31, 2006, 2005
and 2004 to reflect the dispositions of our South Korean and German operations in the quarter ended
October 31, 2006, and the effect of those dispositions has been excluded for all periods presented.
The following table sets forth the ratio of our earnings to fixed charges for the periods indicated
calculated as described above and otherwise as described in the accompanying prospectus and
supersedes the table showing the ratios of earnings to fixed charges set forth under "Ratio of Earnings
to Fixed Charges" in the accompanying prospectus. Our fixed charges include, among other items,
interest on debt and capital leases, interest related to uncertain tax liabilities, capitalized interest and
amortization of debt issuance costs.

Year Ended January 31,
2008

2007

2006

2005

2004
8.2x

8.7x

9.8x

10.7x

10.7x

S-6
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Final Prospectus Supplement
Table of Contents
DESCRIPTION OF THE NOTES
The following description of the terms and conditions of the notes supplements the description of the
more general terms and conditions of Wal-Mart's debt securities contained in the accompanying
prospectus.
The notes of each series will be issued under and pursuant to the indenture dated as of July 19, 2005,
as supplemented, between us and The Bank of New York Trust Company, N.A., as trustee. The 2013
notes and 2038 notes are separate series of notes under the indenture. The notes will be issued in
registered book-entry form without interest coupons in denominations of $2,000 and integral multiples
of $1,000 in excess thereof. The notes of each series will be our senior unsecured debt obligations and
will rank equally among themselves and with all of our other existing and future senior unsecured debt.
The 2013 notes will mature on April 15, 2013, and the 2038 notes will mature on April 15, 2038. Unless
previously redeemed or purchased and cancelled, we will repay the notes of each series at 100% of
their principal amount, together with accrued and unpaid interest thereon, at their maturity. We will pay
principal of and interest on the notes in U.S. dollars.
The 2013 notes will be initially issued in a total principal amount of $1,000,000,000, and the 2038
notes will be initially issued in a total principal amount of $1,500,000,000. We may, without the consent
of the holders of the notes of a series, create and issue additional notes of that series ranking equally
with and otherwise similar in all respects to the notes of that series (except for the public offering price
and the issue date) so that those additional notes will be consolidated and form a single series with the
other outstanding notes of that series. No additional notes of a series may be issued if an event of
default under the indenture has occurred and is continuing.
The notes of each series will bear interest from April 15, 2008 at the annual interest rate specified for
that series on the cover page of this prospectus supplement. Interest on each note will be payable
semi-annually in arrears on April 15 and October 15 of each year, beginning on October 15, 2008, to
the person in whose name the note is registered at the close of business on the immediately preceding
April 1 or October 1, as the case may be. Interest on the notes will be computed on the basis of a 360-
day year consisting of twelve 30-day months.
We will pay to beneficial owners of notes who are non-U.S. persons additional amounts in the event of
deduction or withholding of taxes, assessments or other governmental charges imposed by the United
States or any taxing authority thereof or therein, subject to the terms and limitations set forth under
"Description of the Debt Securities--Payment of Additional Amounts" in the accompanying prospectus.
The notes will not be subject to a sinking fund and will not be convertible or exchangeable. The notes
will not be redeemable prior to maturity, except as set forth under "--Redemption upon Tax Event" in
this prospectus supplement. The notes of each series will be subject to defeasance as described in the
accompanying prospectus.
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Document Outline

sec.gov
- #1">Final Prospectus Supplement