e424b3
 

     
Pricing Supplement #5 dated September 25, 2003
(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: x Merrill Lynch & Co. o Other:          , acting as: o principal x agent, at: o varying prices related to prevailing market prices at the time of resale x a fixed initial public offering price of 100% of the Principal Amount.

     
Principal Amount: $50,000,000   Original Issue Date: September 30, 2003
     
Agent’s Discount or Commission: 0.625%   Stated Maturity Date: October 1, 2013
     
Nets Proceeds to Company: $49,687,500   Interest Payment Date(s): April 1st and October 1st

Interest Rate: 4.70% per annum

Redemption:

x   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:

x   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: United States 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:           x Book-Entry          o Certificated

Other Provisions: