Issuer:

CVS Corporation

Description of Security:

$800,000,000 5.750% Senior Notes due August 15, 2011 (2011 Notes)

$700,000,000 6.125% Senior Notes due August 15, 2016 (2016 Notes)

Security Type:

Senior Notes

Legal Format:

SEC Registered (Registration No. 333-134174)

Settlement Date:

August 15, 2006

Issue Price:

99.820% of principal amount (2011 Notes)

99.616% of principal amount (2016 Notes)

Benchmark Treasury:

4.875% due July 31, 2011 (2011 Notes)

5.125% due May 15, 2016 (2016 Notes)

Benchmark Treasury Strike:

100-1 ¾; 4.862% (2011 Notes)

101-11+; 4.947% (2016 Notes)

Spread to Benchmark Treasury:

93 basis points (0.93%) (2011 Notes)

123 basis points (1.23%) (2016 Notes)

Yield to Maturity:

5.792% (2011 Notes)

6.177% (2016 Notes)

Interest Payment Dates:

Semi-annually on February 15th and August 15th, commencing on February 15th, 2007

Redemption Provisions:

Make-whole call:

At any time at a discount rate of Treasury plus 15 basis points (2011 Notes)

At any time at a discount rate of Treasury plus 20 basis points (2016 Notes)

Denominations:

$1,000 or integral multiples thereof

Underwriters:

Lehman Brothers (bookrunner)

Banc of America Securities (bookrunner)

BNY Capital Markets (bookrunner)

Wachovia Securities (bookrunner)

BB&T Capital Markets (co-manager)

Daiwa Securities SMBC Europe (co-manager)

HSBC (co-manager)

JPMorgan (co-manager)

Morgan Stanley (co-manager)

Piper Jaffray (co-manager)

Wells Fargo Securities (co-manager)

CUSIP:

126650 BD 1 (2011 Notes)

126650 BE 9 (2016 Notes)

Long-Term Debt Ratings:

Baa2 / BBB+ / BBB (Moody’s / S&P / Fitch)