fwp
Filed Pursuant to Rule 433 under the Securities Act of 1933
Registration No. 333-161404
Issuer Free Writing Prospectus dated August 18, 2009
WATSON PHARMACEUTICALS, INC.
Final Term Sheet
August 18, 2009
5.000% Notes due 2014
     
Issuer:
    Watson Pharmaceuticals, Inc.
 
    
Size:
    $450,000,000
 
    
Maturity:
    August 15, 2014
 
    
Coupon (Interest Rate):
    5.000%
 
    
Yield to Maturity:
   5.095%
 
    
Spread to Benchmark Treasury:
    T + 262.5 basis points
 
    
Benchmark Treasury:
    UST 2.625% due 07/31/14
 
    
Benchmark Treasury Price and Yield:
    Price: 100-23
 
    
 
    Yield: 2.470%
 
    
Interest Payment Dates:
    February 15 and August 15 of each year, commencing February 15, 2010
 
    
Redemption Provision:
   Make-whole + 40 basis points
 
Price to Public:
    99.589%
 
    
Settlement Date:
   August 24, 2009
 
    
CUSIP/ISIN Number:
    942683 AD5/US942683 AD51

 

WATSON PHARMACEUTICALS, INC.
Final Term Sheet
August 18, 2009
6.125% Notes due 2019
     
Issuer:
   Watson Pharmaceuticals, Inc.
 
    
Size:
   $400,000,000
 
    
Maturity:
   August 15, 2019
 
    
Coupon (Interest Rate):
   6.125%
 
    
Yield to Maturity:
   6.153%
 
    
Spread to Benchmark Treasury:
   T + 262.5 basis points
 
    
Benchmark Treasury:
   UST 3.625% due 08/15/19
 
    
Benchmark Treasury Price and Yield:
  Price: 100-26
 
    
 
  Yield: 3.528%
 
    
Interest Payment Dates:
   February 15 and August 15 of each year, commencing February 15, 2010
 
    
Redemption Provision:
  Make-whole + 40 basis points
 
    
Price to Public:
   99.796%
 
    
Settlement Date:
  August 24, 2009
 
    
CUSIP/ISIN Number:
   942683 AE3/US942683 AE35
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 get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, Banc of America Securities LLC or Barclays Capital Inc. can arrange to send you the prospectus if you request it by calling or e-mailing Banc of America Securities LLC at 1-800-294-1322 or dg.prospectus_distribution@bofasecurities.com or Barclays Capital Inc. at 1-888-603-5847 or barclaysprospectus@broadridge.com