Filed Pursuant to Rule 433
Registration No. 333-227100
PRICING TERM SHEET
May 4, 2021
$300,000,000 3.000% Senior Notes due 2031
|Ratings (Moodys / S&P / Fitch)*:||Baa3 / BBB- / BBB-|
|Trade Date:||May 4, 2021|
|Settlement Date:||May 6, 2021 (T+2)|
|Maturity:||May 15, 2031|
|Coupon (Interest Rate):||3.000%|
|Yield to Maturity:||3.091%|
|Price to Public:||99.220% of the principal amount|
|Spread to Benchmark Treasury:||150 basis points|
|Benchmark Treasury:||1.125% due February 15, 2031|
|Benchmark Treasury Price and Yield:||95-25+; 1.591%|
|Interest Payment Dates:||Semi-annually on May 15 and November 15 of each year, commencing on November 15, 2021|
|Make-Whole Call:||Make-whole call at any time prior to February 15, 2031 at the greater of 100% of the principal amount of the notes being redeemed or the discounted present value of the remaining scheduled payments of principal and interest at the treasury rate plus 25 basis points, plus accrued and unpaid interest to the date of redemption.|
|Par Call:||At any time on or after February 15, 2031, we may redeem all or any part of the notes at a redemption price equal to 100% of the principal amount thereof plus accrued and unpaid interest thereon.|
|Denominations:||$2,000 and integral multiples of $1,000 in excess thereof|
|Day Count Convention:||30/360|
|Joint Book-Running Managers:||BofA Securities, Inc. |
J.P. Morgan Securities LLC
Wells Fargo Securities, LLC
|Senior Co-Managers||BNP Paribas Securities Corp. |
Mizuho Securities USA LLC
MUFG Securities Americas Inc.
Scotia Capital (USA) Inc.
Truist Securities, Inc.
|Junior Co-Managers|| |
Academy Securities, Inc.
Commerz Markets LLC
HSBC Securities (USA) Inc.
KBC Securities USA LLC
Loop Capital Markets LLC
PNC Capital Markets LLC
R. Seelaus & Co., LLC
Siebert Williams Shank & Co., LLC
SMBC Nikko Securities America, Inc.
Standard Chartered Bank
U.S. Bancorp Investments, Inc.
UniCredit Capital Markets LLC
Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.
The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, BofA Securities, Inc., J.P. Morgan Securities LLC or Wells Fargo Securities, LLC can arrange to send you the prospectus if you request it by calling or e-mailing BofA Securities, Inc. at 1-800-294-1322 or firstname.lastname@example.org; J.P. Morgan Securities LLC at 212-834-4533; or Wells Fargo Securities, LLC at 1-800-645- 3751.