FWP 1 a20-15067_3fwp.htm FWP

 

Filed Pursuant to Rule 433

Registration Statement No. 333-225076

April 7, 2020

 

FINAL TERM SHEET

 

April 7, 2020

 

2.600% Senior Notes due 2030

 

Issuer:

 

The Estée Lauder Companies Inc.

 

 

 

Security:

 

2.600% Senior Notes due 2030 (the “Notes”)

 

 

 

Size:

 

$700,000,000

 

 

 

Maturity Date:

 

April 15, 2030

 

 

 

Coupon:

 

2.600%

 

 

 

Interest Payment Dates:

 

April 15 and October 15, commencing October 15, 2020

 

 

 

Price to Public:

 

99.816%

 

 

 

Benchmark Treasury:

 

1.500% due February 15, 2030

 

 

 

Benchmark Treasury Price and Yield:

 

106-29; 0.771%

 

 

 

Spread to Benchmark Treasury:

 

+ 185 bps

 

 

 

Yield:

 

2.621%

 

 

 

Optional Redemption:

 

At any time prior to January 15, 2030 (three months prior to the maturity date of the Notes), Make-Whole Call at Treasury + 30 bps

 

On or after January 15, 2030 (three months prior to the maturity date of the Notes), Par Call

 

 

 

Reference Treasury Dealers:

 

BofA Securities, Inc., Citigroup Global Markets Inc. or J.P. Morgan Securities LLC

 

 

 

Expected Settlement Date:

 

April 13, 2020, which is the third business day (as defined in applicable SEC rules) following the date hereof (such settlement cycle being referred to as “T+3”). Purchasers should note that the ability to settle secondary market trades of the notes effected on any date prior to two business days before delivery of the notes may be affected by the T+3 settlement.

 

 

 

CUSIP / ISIN:

 

29736R AQ3 / US29736RAQ39

 

 

 

Anticipated Ratings:

 

A1 (stable) by Moody’s Investors Service, Inc.

 

A+ (negative) by Standard & Poor’s

 

 

Joint Book-Running Managers:

 

BofA Securities, Inc.

Citigroup Global Markets Inc.

J.P. Morgan Securities LLC

BNP Paribas Securities Corp.

MUFG Securities Americas Inc.

 

 

 

Co-Managers:

 

Goldman Sachs & Co. LLC

HSBC Securities (USA) Inc.

ICBC Standard Bank Plc

RBC Capital Markets, LLC

SG Americas Securities, LLC

U.S. Bancorp Investments, Inc.

BBVA Securities Inc.

Loop Capital Markets LLC

Siebert Williams Shank & Co., 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 Estée Lauder Companies Inc. has filed a registration statement (including a prospectus supplement) with the SEC for the offering to which this communication relates. Before you invest, you should read the preliminary prospectus supplement and prospectus in that registration statement and other documents the Company has filed with the SEC for more complete information about the Company and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, The Estée Lauder Companies Inc., any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling BofA Securities, Inc. toll-free at 1-800-294-1322, by calling Citigroup Global Markets Inc. toll-free at 1-800-831-9146 or by calling J.P. Morgan Securities LLC collect at 1-212-834-4533.

 

This final term sheet supplements, and should be read in conjunction with, The Estée Lauder Companies Inc. preliminary prospectus supplement dated April 7, 2020 and accompanying prospectus dated May 21, 2018 and the documents incorporated by reference therein.

 

Any disclaimers or other notices that may appear below are not applicable to this communication and should be disregarded. Such disclaimers or other notices were automatically generated as a result of this communication being sent via Bloomberg or another email system.