Prospectus Supplement
(To Prospectus dated December 4, 2020)
$5,000,000,000
Walmart Inc.
$1,250,000,000 1.050% Notes Due 2026
$1,250,000,000 1.500% Notes Due 2028
$1,000,000,000 2.500% Notes Due 2041
$1,500,000,000 2.650% Notes Due 2051
Walmart Inc. is
offering $1,250,000,000 aggregate principal amount of our 1.050% notes due 2026 (the 2026 notes), $1,250,000,000 aggregate principal amount of our 1.500% notes due 2028 (the 2028 notes), $1,000,000,000 aggregate principal
amount of our 2.500% notes due 2041 (the 2041 notes), and $1,500,000,000 aggregate principal amount of our 2.650% notes due 2051 (the 2051 notes and, together with the 2026 notes, the 2028 notes and the 2041 notes, the
notes).
We will pay interest on the notes of each series on the dates specified herein, in each case, at the annual interest
rate shown above for such series of notes. The notes of each series will mature on the dates specified herein. See Description of the Notes in this prospectus supplement.
Each series of notes will be redeemable, as a whole or in part, at our option, as described under Description of the NotesOptional
Redemption in this prospectus supplement.
The notes of each series will be our senior unsecured debt obligations, will rank equally
with our other senior unsecured indebtedness and will not be convertible or exchangeable.
Investing in
the notes involves certain risks. See Risk Factors beginning on page S-7 of this prospectus supplement.
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Public Offering Price
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Underwriting Discount
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Proceeds to Walmart
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Per Note
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Total(1)
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Per Note
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Total
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Per Note
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Total(2)
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2026 Notes
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99.811
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%
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$
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1,247,637,500
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0.350
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%
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$
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4,375,000
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99.461
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%
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$
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1,243,262,500
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2028 Notes
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99.894
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%
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$
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1,248,675,000
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0.400
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%
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$
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5,000,000
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99.494
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%
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$
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1,243,675,000
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2041 Notes
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100.000
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%
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$
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1,000,000,000
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0.650
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%
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$
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6,500,000
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99.350
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%
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$
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993,500,000
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2051 Notes
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99.630
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%
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$
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1,494,450,000
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0.750
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%
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$
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11,250,000
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98.880
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%
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$
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1,483,200,000
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(1)
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Plus accrued interest, if any, from September 17, 2021, in the case of the 2026 notes, and from
September 22, 2021, in the case of the 2028 notes, the 2041 notes and the 2051 notes.
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(2)
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Before transaction expenses and accrued interest, if any, from September 17, 2021, in the case of the 2026
notes, and from September 22, 2021, in the case of the 2028 notes, the 2041 notes and the 2051 notes.
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Neither the U.S.
Securities and Exchange Commission nor any state securities commission in the United States or foreign 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.
The notes of each
series will be a new issue of securities with no established trading market. The notes will not be listed for trading on any securities exchange.
The underwriters expect to deliver the notes to purchasers through the book-entry delivery system of The Depository Trust Company, for the
credit of the accounts of its direct and indirect participants, including Clearstream Banking, S.A. and Euroclear Bank SA/NV, on or about September 17, 2021, in the case of the 2026 notes, which is the seventh trading day following the date of
this prospectus supplement and, in the case of the 2028 notes, the 2041 notes and the 2051 notes, on or about September 22, 2021, which is the tenth trading day following the date of this prospectus supplement. These settlement dates may affect the
trading of the notes. See UnderwritingOther MattersExtended Settlement.
Joint
Book-Running Managers
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Citigroup
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Mizuho Securities
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Wells Fargo Securities
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BofA Securities
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HSBC
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J.P. Morgan
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Morgan Stanley
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Senior Co-Managers
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BBVA
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Goldman Sachs & Co., LLC
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Santander
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Scotiabank
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Standard Chartered Bank
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US Bancorp
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Co-Managers
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Barclays
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BNP PARIBAS
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Credit Suisse
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NatWest Markets
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SMBC Nikko
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TD Securities
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Academy Securities
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CastleOak Securities, L.P.
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Guzman & Company
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ICBC Standard Bank
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Lloyds Securities
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Loop Capital Markets
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September 8, 2021