Item 1.01 Entry into a Material Definitive Agreement
On June 30, 2009, Analog Devices, Inc. ("Analog") entered into interest rate swap transactions whereby Analog swapped the notional amount of its $375 million of fixed rate debt at 5.0% into floating interest rate debt through July 1, 2014. Under the terms of the swaps, Analog will (i) receive on the $375 million notional amount a 5.0% interest payment on the 1st of every January and July, commencing January 1, 2010 through and ending on the maturity date; and (ii) pay on the $375 million notional amount a three-month LIBOR plus 2.05% (currently approximately 2.64%) interest payment, payable on the 1st of every January, April, July and October, commencing on October 1, 2009 and ending on the maturity date.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

The information set forth in Item 1.01 is incorporated by reference.

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