HSP

Term sheet

Registration Statement No. 333-158939

To prospectus dated May 1, 2009
preliminary prospectus supplement dated May 5, 2009

Filed Pursuant to Rule 433 of the Securities Act of 1933

Issuer:

Hospira, Inc.

Principal Amount:

$250,000,000

Maturity Date:

May 15, 2015

Trade Date:

May 5, 2009

Original Issue Date (Settlement):

May 8, 2009

Interest Accrual Date:

May 8, 2009

Issue Price (Price to Public):

99.796 %

Interest Rate:

6.400 %

Interest Payment Period:

Semi-Annually

Interest Payment Dates:

May 15 and November 15

Day Count Convention:

30/360

Optional Make-Whole Redemption:

As a whole or in part, at Hospira’s option, at any time or from time to time, on not less than 30 nor more than 60 days’ notice, at a price equal to the greater of (1) 100% of the principal and (2) the sum of the present values of the remaining scheduled payments on such notes discounted to the date of redemption, on a semi-annual basis, at a rate equal to the sum of the applicable Treasury Rate, plus 50 basis points.

Change of Control:

If a Change of Control Triggering Event occurs, Hospira will be required to make an offer to purchase the notes at a price equal to 101% of their principal amount, plus accrued and unpaid interest to the date of repurchase.

Specified Currency:

U.S. Dollars (“$”)

Minimum Denomination:

$2,000 and integral multiples of $1,000 in excess thereof

Business Day:

New York

CUSIP:

441060 AK6

ISIN:

US441060AK66

Joint Book-Running Managers:

Banc of America Securities LLC
Morgan Stanley & Co. Incorporated

Co-Managers:

Citigroup Global Markets Inc.
RBS Securities Inc.
Wachovia Capital Markets, LLC

Global Settlement:

Through The Depository Trust Company, Euroclear or Clearstream, Luxembourg