Filed pursuant to Rule 433

Registration Statement No. 333-210203

June 12, 2018

Sanofi

Pricing Term Sheet for the 2028 Notes

U.S.$1,000,000,000 3.625% Notes due 2028 (the “2028 Notes”)

 

Issuer    Sanofi
Format    SEC-registered global notes
Title    3.625% Notes due 2028 (the “2028 Notes”)
Principal    U.S.$1,000,000,000
Issue Price    99.270%
Pricing Date    June 12, 2018
Expected Settlement Date    June 19, 2018 (T+5)
Maturity Date    June 19, 2028
Day Count    30/360
Day Count Convention    Following unadjusted
Optional Redemption   

Make-whole call at Treasury Rate plus 15 bps before March 19, 2028

Par call at 100% principal amount on or after March 19, 2028

Tax Redemption    Applicable
Ranking    Unsecured and unsubordinated
Interest Rate    3.625% per annum
Benchmark Treasury    2.875% due May 15, 2028
Benchmark Treasury Price    99-08
Benchmark Treasury Yield    2.963%
Spread to Benchmark Treasury    75 bps


Yield to Maturity    3.713%
Date Interest Starts Accruing    June 19, 2018
Interest Payment Dates   

Each June 19 and December 19, commencing

December 19, 2018

Trustee    Deutsche Bank Trust Company Americas
Listing    None
Denominations    U.S.$2,000 and increments of U.S.$1,000 above that amount
Expected Ratings of the Notes*   

Moody’s: A1/Stable

 

Standard & Poor’s: AA/Stable

 

Scope Ratings: AA/Stable

CUSIP/ISIN    801060AD6 / US801060AD60
Global Coordinators and Joint Book-Running Managers   

Barclays Capital Inc.

Morgan Stanley & Co. LLC

Joint Book-Running Managers   

Citigroup Global Markets Inc.

Deutsche Bank Securities Inc.

MUFG Securities Americas Inc.

 

* A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.

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 obtain these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, copies may be obtained from Barclays Capital Inc. at 1-888-603-5847, Morgan Stanley & Co. LLC at 1-866-718-1649, Citigroup Global Markets Inc. at 1-800-831-9146, Deutsche Bank Securities Inc. at 1-800-503-4611 and MUFG Securities Americas Inc. at 1-877-649-6848.

ANY DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR BELOW ARE NOT APPLICABLE TO THIS COMMUNICATION AND SHOULD BE DISREGARDED. SUCH DISCLAIMERS OR OTHER NOTICES WERE AUTOMATICALLY GENERATED AS A RESULT OF THIS COMMUNICATION BEING SENT VIA BLOOMBERG OR ANOTHER EMAIL SYSTEM.

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