Pricing Supplement #1 dated June 11, 1997 Rule 424(b)(3)
(To Prospectus dated November 29, 1996 and File No. 333-15953
Prospectus Supplement dated April 23, 1997)
NIKE, Inc.
Medium-Term Notes - Fixed Rate
Principal Amount: $50,000,000 Interest Rate: 6.51%
Agents Commission or Discount: 0.35% Default Rate: 6.51%
Net proceeds to NIKE: $49,825,000 Stated Maturity: June 16, 2000
Original Issue Date: June 16, 1997
Exchange Rate Agent (if other than the First National Bank of Chicago):
Interest Payment Dates:
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| | March 1 and September 1
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| X | Other: June 1 and December 1
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Record Dates:
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| | February 15 and August 15
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| X | Other: May 15 and November 15
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Redemption:
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| X | The Notes cannot be redeemed prior to the Stated Maturity.
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| | The Notes may be redeemed prior to the Stated Maturity.
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Redemption Commencement Date:
Initial Redemption Percentage:
Annual Redemption Percentage Reduction: _____% until
Redemption Percentage is 100% of the principal amount.
Optional Repayment:
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| X | The Notes cannot be repaid prior to the Stated Maturity
----
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| | The Notes can be repaid prior to the Stated Maturity at
---- the option of the holder of the Notes.
Optional Repayment Date(s):
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Currency:
Specified Currency:
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| X | United States dollars
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| | Other:
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Authorized Denomination:
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| X | $1,000 and integral multiples thereof
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| | Other:
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Original Issue Discount: | |Yes | X | No
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Total Amount of OID:
Yield to Maturity:
Initial Accrual Period:
---- ----
Form: | X | Book-Entry | | Certificated
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Agent: | | Goldman, Sachs & Co.
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| | Lehman Brothers Inc.
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| X | Merrill Lynch & Co.
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| X | Salomon Brothers Inc.
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| | Other _______________________________
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Agent acting in the capacity as indicated below:
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| | Agent | X | Principal
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If as principal:
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| X | The Notes are being offered at varying prices related to
---- prevailing market prices at the time of resale.
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| | The Notes are being offered at a fixed initial public
---- offering price of _____% of principal amount.
If as Agent:
The Notes are being offered at a fixed initial public offering
price of _____% of Principal Amount.
- ----
| | An Addendum (as defined in the Prospectus Supplement) is
- ---- attached hereto, containing terms and provisions to which
reference is hereby made.
Other Provisions: NONE
