Pricing Supplement No. 3 Filed Under Rule 424(b)(2)
Dated May 18, 1995 Registration No. 33-24114
(To Prospectus dated January 22, 1993
Prospectus Supplement dated January 22, 1993)
$150,000,000
REEBOK INTERNATIONAL LTD.
Medium-Term Notes, Series A
Principal Amount: $100,000,000 Interest Rate
(if fixed rate): 6.75%
Issue Price: 99.54%
(as a percent of Principal Amount)
Maturity Date: May 15, 2000 Interest Rate Basis
(if floating rate): N/A
Net Proceeds
to Company: $99,040,000 Index Maturity:
Agent's Commission (%): .50% Spread (plus or minus):
Agents: CS First Boston Corporation
Citicorp Securities, Inc.
Trade Date: Spread Multiplier:
May 18, 1995
Maximum Interest Rate:
Settlement Date (Original Issue
Date): May 25, 1995
Minimum Interest Rate:
Redemption Commencement Date Initial Interest Rate:
(if any): N/A
Interest Reset Date(s):
Redemption Periods: N/A
Interest Determination
Date(s):
Redemption Prices: N/A
Calculation Date(s):
Original Issue Discount Security:
Yes: No: X Calculation Agent:
Default Rate (%): Interest Payment Date(s):
(applicable only if Original November 15 and May 15 in each
Issue Discount Security) year, beginning November 15,
1995.
Notes are to be issued Regular Record Date(s):
as a single book-entry November 1 and May 1 in each
Global Security year, beginning November 1
1995.
Interest Reset Period:
See attached page 2
<PAGE>
Additional Terms:
See attached Computation of Ratio of Earnings to Fixed
Charges for the quarters ended March 31, 1995 and 1994.
As of the date of this Pricing Supplement (i) the aggregate
initial public offering price of the Notes (as defined in the
Prospectus Supplement) which have been sold (including the Notes
to which this Pricing Supplement relates) is $120,000,000; and
the aggregate proceeds which the Company has received from Debt
Securities (as defined in the Prospectus) which have been sold
(including the Notes to which this Pricing Supplement relate) is
$118,940,000.
Subject to the terms and conditions set forth in the Agency
Agreement dated January 22, 1993 and the Purchase Agreement dated
May 18, 1995, the Company has agreed to sell to each such Agent
and each such Agent has agreed to purchase, the principal amount
of Notes set forth opposite its name below:
Agent
CS First Boston Corporation ...............$50,000,000
Citicorp Securities, Inc. .................$50,000,000
____________
Total $100,000,000
"N/A" as used herein means "Not Applicable."
-2-
<PAGE>
REEBOK INTERNATIONAL LTD.
(Amounts in Thousands)
Computation of Ratio of Earnings to Fixed Charges
Quarter Ended
March 31, March 31,
1995 1994
_________ _________
Earnings
Pretax Income $105,806 $106,112
Add:
Interest on indebtedness 6,561 5,237
Amortization of debt discount
and issuance costs 169 308
Portion of rent representative
of the interest factor 2,396 2,406
________ ________
Income as adjusted $114,932 $114,063
======== ========
Fixed Charges
Interest on indebtedness $ 6,561 $ 5,237
Amortization of debt discount
and issuance costs 169 308
Portion of rent representative
of the interest factor 2,396 2,406
________ ________
Fixed charges $ 9,126 $ 7,951
======== ========
Ratio of earnings to fixed charges 12.59 14.35
Earnings included in the calculation of the ratio of earnings to
fixed charges represent income before income taxes plus fixed
charges (other than capitalized interest). Fixed charges include
interest expense, capitalized interest and a portion of rent
expense representative of interest.
<PAGE>
