Pricing Supplement #1 dated July 1, 2002 (To Prospectus dated January 24, 2002 and Prospectus Supplement dated May 29, 2002)

Rule 424(b) (3) File No. 333-71324

NIKE, Inc.
Medium-Term Notes—Fixed Rate

        We are hereby offering to sell Notes having the terms specified below to you with the assistance of: ý  Merrill Lynch & Co. o  Other:             , acting as: ý  principal o  agent, at: o  varying prices related to prevailing market prices at the time of resale ý  a fixed initial public offering price of 99.85% of the Principal Amount.

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	Principal Amount: $25,000,000		Original Issue Date: July 8, 2002
	Agent's Discount or Commission: .50%		Stated Maturity Date: July 8, 2007
	Nets Proceeds to Company: $24,837,500		Interest Payment Date(s): June 1st and December 1st

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Interest Rate: 4.80% per annum
Redemption:
ý		The Notes may not be redeemed prior to the Stated Maturity Date.
o		The Notes may be redeemed at the option of the Company prior to the Stated Maturity Date.
		Initial Redemption Date:
		Initial Redemption Percentage:
		Annual Redemption Percentage Reduction:        % until Redemption Percentage is 100% of the Principal Amount.
o		The Notes shall be redeemed by the Company prior to the Stated Maturity Date (see attached).
Repayment:
ý		The Notes may not be repaid prior to the Stated Maturity Date.
o		The Notes may be repaid prior to the Stated Maturity Date at the option of the holder of the Notes.
		Option Repayment Date(s):
Currency:
		Specified Currency: U.S. dollars (If other than U.S. dollars, see attached)
		Minimum Denominations:              (Applicable only if Specified Currency is other than U.S. dollars)
		Exchange Rate Agent:              (Applicable only if Specified Currency is other than U.S. dollars)
If Discount Note, check o
		Issue Price:       %
Form:    ý    Book- Entry        o    Certificated
Other Provisions:

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