Company: NOC
Filing Date: 2025-05-27
Form Type: 424B5
Source: 0001193125-25-126289
Chunk: 31

Company: NORTHROP GRUMMAN CORP /DE/
Filing Date: 2025-05-27
Form: 424B5
Chunk 31
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 more likely to be created if underwriters are concerned that there may be downward pressure on the
price of the notes in the open market prior to the completion of the offering.

Stabilizing transactions consist of various bids for or purchases of the
notes made by the underwriters in the open market prior to the completion of the offering.

The underwriters may impose a penalty bid. This occurs when a
particular underwriter repays to the other underwriters a portion of the underwriting discount received by it because the representatives of the underwriters have repurchased notes sold by or for the account of that underwriter in stabilizing or
short covering transactions.

Purchases to cover a short position and stabilizing transactions may have the effect of preventing or slowing a decline in
the market price of the notes. Additionally, these purchases, along with the imposition of the penalty bid, may stabilize, maintain or otherwise affect the market price of the notes. As a result, the price of the notes may be higher than the price
that might otherwise exist in the open market. These transactions may be effected in the over-the-counter market or otherwise.

The underwriters and their respective affiliates are full service financial institutions engaged in various activities, which may include sales and trading,
commercial and investment banking, advisory, investment management, investment research, principal investment, hedging, market making, brokerage and other financial and non-financial activities and services.
Certain of the underwriters or their respective affiliates have from time to time performed various financial advisory, commercial banking, investment banking, or hedging services for us, including repurchases of Northrop Grumman common stock, in
the ordinary course of their respective businesses, for which they have received customary fees and reimbursement of expenses. Certain of the underwriters or their affiliates are lenders, and are also agents, under our revolving credit facility. In
addition, certain of the underwriters or their respective affiliates may hold a portion of our 7.875% and 7.750% senior notes due 2026. As a result, such underwriters or such affiliates of the underwriters may receive a portion of the proceeds from
this offering to the extent such proceeds are used to redeem or otherwise repurchase such notes.

In the ordinary course of their various business
activities, the underwriters and their respective affiliates, officers, directors and employees may purchase, sell or hold a broad array of investments and actively traded securities, derivatives, loans, commodities, currencies, credit default swaps
and other financial instruments for their