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Issuer Free Writing Prospectus filed pursuant to Rule 433
supplementing the Preliminary Prospectus Supplement dated October 28, 2010
(to Prospectus dated October 29, 2008)
Registration No. 333-154835
October 28, 2010
(LOGO)
JABIL CIRCUIT, INC.
Pricing Supplement
Pricing Supplement dated October 28, 2010 to Preliminary Prospectus Supplement dated October 28, 2010 of Jabil Circuit, Inc. This Pricing Supplement is qualified in its entirety by reference to the Preliminary Prospectus Supplement. The information in this Pricing Supplement supplements the Preliminary Prospectus Supplement and supersedes the information in the Preliminary Prospectus Supplement to the extent it is inconsistent with the information in the Preliminary Prospectus Supplement. Capitalized terms used in this Pricing Supplement but not defined have the meanings given them in the Preliminary Prospectus Supplement.
     
Issuer
  Jabil Circuit, Inc.
 
    
Title of Security
  5.625% Senior Notes due 2020
 
    
Aggregate Principal Amount
  $400,000,000
 
    
Maturity
  December 15, 2020
 
    
Public Offering Price
  100.000%, plus accrued interest, if any, from November 2, 2010
 
    
Coupon
  5.625%
 
    
Yield to Maturity
  5.625%
 
    
Spread to Treasury
  +297 bps
 
    
Benchmark
  UST 2.625% due August 15, 2020
 
    
Interest Payment Dates
  June 15 and December 15 of each year, beginning on June 15, 2011
 
    
Record Dates
  June 1 and December 1
 
    
Optional Redemption
  We may redeem the notes at our option at any time, either in whole or in part at 100% of the principal amount thereof, plus a “make-whole” premium, using a discount rate of Treasuries plus 0.50%.
 
    
Change of Control
  101%, plus accrued and unpaid interest, if any.
 
    
Gross Proceeds
  $400,000,000
 
    
Underwriting Discount
  2.00%
 
    
Net Proceeds to Issuers before Expenses
  $392,000,000

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Approximate Net Proceeds to Issuers after Estimated Expenses
  $391,000,000        
 
            
Trade Date
  October 28, 2010        
 
            
Settlement Date
  November 2, 2010 (T+3)        
 
            
Joint Book-Running Managers
  J.P. Morgan Securities LLC        
 
  Banc of America Securities LLC        
 
  Citigroup Global Markets Inc.        
 
  RBS Securities Inc.        
 
            
Senior Co-Managers
  BNP Paribas Securities Corp.        
 
  HSBC Securities (USA) Inc.        
 
  Mizuho Securities USA Inc.        
 
  Scotia Capital (USA) Inc.        
 
  Daiwa Capital Markets America Inc.        
 
            
Co-Managers
  BBVA Securities Inc.        
 
  Comerica Securities, Inc.        
 
  SunTrust Robinson Humphrey, Inc.        
 
  U.S. Bancorp Investments, Inc.        
 
            
Allocation
  Name   Principal Amount of
 
      Notes to be Purchased
 
  J.P. Morgan Securities LLC   $ 120,000,000  
 
  Banc of America Securities LLC     60,000,000  
 
  Citigroup Global Markets Inc.     60,000,000  
 
  RBS Securities Inc.     48,000,000  
 
  BNP Paribas Securities Corp.     18,000,000  
 
  HSBC Securities (USA) Inc.     18,000,000  
 
  Mizuho Securities USA Inc.     18,000,000  
 
  Scotia Capital (USA) Inc.     18,000,000  
 
  Daiwa Capital Markets America Inc.     18,000,000  
 
  BBVA Securities Inc.     8,000,000  
 
  Comerica Securities, Inc.     6,000,000  
 
  SunTrust Robinson Humphrey, Inc.     6,000,000  
 
  U.S. Bancorp Investments, Inc.     2,000,000  
 
            
Denominations
  $2,000 and integral multiples of $1,000        
 
            
CUSIP/ISIN Numbers
  CUSIP: 466313 AF0        
 
  ISIN: US466313AF08        
 
            
Listing
  None        
 
            
Form of Offering
  SEC Registered (Registration No. 333-154835)        
 
            
Additional Information:
  The following changes will be made to the Preliminary Prospectus Supplement. Other information (including financial information) is deemed to have changed to the extent affected by the changes described below.        

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The second bullet-point in the section entitled “Capitalization” on page S-32 of the Preliminary Prospectus Supplement is hereby amended and shall read in its entirety as follows:
  •   on an as adjusted basis to give effect to (i) $391 million of net proceeds from this offering and (ii) the use of this $391 million of net proceeds to repay in full the $340.0 million outstanding under the term portion of our Credit Facility and to repay a portion of the outstanding amounts under our foreign securitization program.
The table in the section entitled “Capitalization” on page S-33 of the Preliminary Prospectus Supplement will be updated to reflect the following changes ($ in thousands):


         
    As adjusted
Short-term debt and current installments of notes payable, long term debt and capital lease obligations:
        
Term portion of the Credit Facility
     0  
Foreign Securitization Program
     20,436  
Total short-term debt and current installments of long-term debt
     96,566  
Notes payable, long-term debt and capital lease obligations, less current installments:
        
 
        
Term portion of the Credit Facility
     0  
Total long-term debt
   $ 1,098,930  
Total debt(5)
   $ 1,195,496  
Total capitalization
   $ 2,773,542  
The following shall be inserted as the last sentence in the last paragraph in the section entitled “Underwriting; Conflict of Interest” on page S-79 of the Preliminary Prospectus Supplement:
Daiwa Capital Markets America Inc. (“DCMA”) has entered into an agreement with SMBC Securities, Inc. (“SMBCSI”) pursuant to which SMBCSI provides certain advisory and/or other services to DCMA, including services with respect to this offering. In return for the provision of such services by SMBCSI to DCMA, DCMA will pay to SMBCSI a mutually agreed-upon fee.” Sumitomo Mitsui Banking Corporation, an affiliate of SMBCSI, is currently a lender under our Credit Facility.


FREE WRITING PROSPECTUS LEGEND
JABIL CIRCUIT, INC. HAS FILED A REGISTRATION STATEMENT (INCLUDING A PROSPECTUS AND PRELIMINARY PROSPECTUS SUPPLEMENT) WITH THE SECURITIES AND EXCHANGE COMMISSION (THE “SEC”) FOR THE OFFERING TO WHICH THIS COMMUNICATION RELATES. BEFORE YOU INVEST, YOU SHOULD READ THE PROSPECTUS (INCLUDING THE PROSPECTUS SUPPLEMENT) IN THAT REGISTRATION STATEMENT AND OTHER DOCUMENTS JABIL CIRCUIT, INC. HAS FILED WITH THE SEC FOR MORE COMPLETE INFORMATION ABOUT JABIL CIRCUIT, INC. AND THIS OFFERING. YOU MAY GET THESE DOCUMENTS FOR FREE BY VISITING THE SEC WEB SITE AT WWW.SEC.GOV. ALTERNATIVELY, JABIL CIRCUIT, INC., THE UNDERWRITERS OR ANY DEALER PARTICIPATING IN THE OFFERING WILL ARRANGE TO SEND YOU THE PROSPECTUS AND APPLICABLE PROSPECTUS SUPPLEMENT IF YOU REQUEST THEM FROM: J.P. MORGAN SECURITIES LLC, 383 MADISON AVENUE, FLOOR 27, NEW YORK, NEW YORK 10179 OR BY CALLING (212) 270-6000.
ANY DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR BELOW ARE NOT APPLICABLE TO THIS COMMUNICATION AND SHOULD BE DISREGARDED. SUCH DISCLAIMERS OR OTHER NOTICES WERE AUTOMATICALLY GENERATED AS A RESULT OF THIS COMMUNICATION BEING SENT VIA BLOOMBERG OR ANOTHER EMAIL SYSTEM.

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