Alphabet Inc. filed a free writing prospectus on November 2, 2026, disclosing pricing terms for a seven-tranche, €6,000,000,000 euro-denominated senior unsecured note offering spanning maturities from 2028 to 2045.

Key Highlights

  • Total offering size: €6,000,000,000 across seven tranches, including one floating-rate tranche and six fixed-rate tranches.
  • Floating-rate tranche: €750,000,000 of Floating Rate Notes due November 5, 2028, priced at 100.000% of principal, carrying a rate of three-month EURIBOR plus 0.50% per annum.
  • Largest fixed-rate tranche: €1,250,000,000 of 4.050% Notes due 2030, priced at 99.975% of principal, with a yield to maturity of 4.057%.
  • Longest-dated tranche: €1,000,000,000 of 5.250% Notes due November 5, 2045, priced at 99.575% of principal, with a yield to maturity of 5.286%.
  • Credit ratings: Moody's Aa2 (Stable) and S&P AA+ (Stable), as disclosed in the filing.
  • Trade and settlement dates: Trade date of November 2, 2026, with settlement on November 5, 2026 (T+3), through Clearstream Banking, S.A. or Euroclear Bank SA/NV.
  • Listing intent: The company disclosed it intends to apply to list each series of notes on the Nasdaq Bond Exchange, subject to Nasdaq approval.

Alphabet's Euro Bond Pricing Terms Across Seven Tranches

According to the free writing prospectus filed pursuant to Rule 433 under Registration No. 333-296395, Alphabet Inc. priced a €6,000,000,000 multi-tranche offering of senior unsecured notes denominated in euros. The securities are SEC registered and are targeted exclusively at professional investors and eligible counterparties under both MiFID II and UK MiFIR product governance frameworks. No EU PRIIPs key information document or UK DISC disclosure document was prepared, as the notes are not available to retail investors in the EEA or the UK.

The fixed-rate tranches carry coupons ranging from 3.700% per annum on the 2028 Notes to 5.250% per annum on the 2045 Notes. Spreads to the comparable benchmark Bund range from +71.1 basis points for the 2028 Notes to +166.8 basis points for the 2045 Notes. Spreads to mid-swap yields range from +40 basis points for the 2028 Notes to +185 basis points for the 2045 Notes. Net proceeds before expenses from the fixed-rate tranches, after underwriting discounts, range from €745,837,500 for the 2039 Notes to €1,247,500,000 for the 2030 Notes. The floating-rate tranche nets €748,875,000 after its 0.150% underwriting discount.

The filing states that the company may redeem any series of notes in whole, but not in part, upon certain changes in U.S. tax law that would require payment of additional amounts. For the fixed-rate notes, the company also has an optional redemption provision allowing redemption in whole or in part at any time prior to the applicable Par Call Date, at a price equal to the greater of 100% of principal or the present value of remaining scheduled payments discounted at the applicable Comparable Government Bond Rate. All tranches carry no sinking fund provisions. Denominations are €100,000 and multiples of €1,000 in excess thereof.

What Was Disclosed

Alphabet Inc. disclosed the full pricing terms for a seven-tranche €6,000,000,000 euro-denominated senior unsecured note offering dated November 2, 2026, covering coupons, offering prices, yields, spreads, underwriting discounts, and net proceeds for each tranche.