Filed Pursuant to Rule 433
Registration No. 333-236366
FINAL TERM SHEET
Philip Morris International Inc.
Dated October 29, 2020
0.875% Notes due 2026
1.750% Notes due 2030
Issuer: | Philip Morris International Inc. | |
Offering Format: | SEC Registered | |
Security: | 0.875% Notes due 2026 (the “2026 Notes”) | |
1.750% Notes due 2030 (the “2030 Notes”) | ||
Aggregate Principal Amount: | 2026 Notes: $750,000,000 | |
2030 Notes: $750,000,000 | ||
Maturity Date: | 2026 Notes: May 1, 2026 | |
2030 Notes: November 1, 2030 | ||
Coupon: | 2026 Notes: 0.875% | |
2030 Notes: 1.750% | ||
Interest Payment Dates: | 2026 Notes: Semi-annually on each May 1 and | |
November 1, commencing May 1, 2021 | ||
2030 Notes: Semi-annually on each May 1 and | ||
November 1, commencing May 1, 2021 | ||
Record Dates: | 2026 Notes: April 15 and October 15 | |
2030 Notes: April 15 and October 15 | ||
Price to Public: | 2026 Notes: 99.631% of principal amount | |
2030 Notes: 98.992% of principal amount | ||
Underwriting Discount: | 2026 Notes: 0.300% of principal amount | |
2030 Notes: 0.450% of principal amount | ||
Net Proceeds: | 2026 Notes: $744,982,500 (before expenses) | |
2030 Notes: $739,065,000 (before expenses) | ||
Benchmark Treasury: | 2026 Notes: 0.250% due September 30, 2025 | |
2030 Notes: 0.625% due August 15, 2030 | ||
Benchmark Treasury Price/Yield: | 2026 Notes: 99-14 1/4 / 0.364% | |
2030 Notes: 98-02 / 0.831% | ||
Spread to Benchmark Treasury: | 2026 Notes: +58 basis points | |
2030 Notes: +103 basis points |
Yield to Maturity: | 2026 Notes: 0.944% | |
2030 Notes: 1.861% | ||
Optional Redemption: | 2026 Notes: | |
Prior to April 1, 2026: Make-whole redemption at Treasury plus 10 bps | ||
On or after April 1, 2026: Redemption at par | ||
2030 Notes: | ||
Prior to August 1, 2030: Make-whole redemption at Treasury plus 20 bps | ||
On or after August 1, 2030: Redemption at par | ||
Settlement Date (T+2): | November 2, 2020 | |
CUSIP/ISIN: | 2026 Notes: CUSIP Number: 718172 CR8 | |
ISIN Number: US718172CR89 | ||
2030 Notes: CUSIP Number: 718172 CS6 | ||
ISIN Number: US718172CS62 | ||
Listing: | None | |
Joint Book-Running Managers: | Barclays Capital Inc. | |
Credit Suisse Securities (USA) LLC | ||
Goldman Sachs & Co. LLC | ||
HSBC Securities (USA) Inc. | ||
Santander Investment Securities Inc. | ||
SG Americas Securities, LLC | ||
Senior Co-Manager: | BofA Securities, Inc. | |
Co-Managers: | Commerz Markets LLC | |
Intesa Sanpaolo S.p.A. | ||
UBS Securities LLC |
Allocations: |
2026 Notes | 2030 Notes | ||||||
Barclays Capital Inc. |
$ | 106,125,000 | $ | 106,125,000 | ||||
Credit Suisse Securities (USA) LLC |
$ | 106,125,000 | $ | 106,125,000 | ||||
Goldman Sachs & Co. LLC |
$ | 106,125,000 | $ | 106,125,000 | ||||
HSBC Securities (USA) Inc. |
$ | 106,125,000 | $ | 106,125,000 | ||||
Santander Investment Securities Inc. |
$ | 106,125,000 | $ | 106,125,000 | ||||
SG Americas Securities, LLC |
$ | 106,125,000 | $ | 106,125,000 | ||||
BofA Securities, Inc. |
$ | 45,750,000 | $ | 45,750,000 | ||||
Commerz Markets LLC |
$ | 22,500,000 | $ | 22,500,000 | ||||
Intesa Sanpaolo S.p.A. |
$ | 22,500,000 | $ | 22,500,000 | ||||
UBS Securities LLC |
$ | 22,500,000 | $ | 22,500,000 | ||||
Total |
$ | 750,000,000 | $ | 750,000,000 | ||||
|
|
|
|
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 website at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Barclays Capital Inc. toll free at 1-888-603-5847, Credit Suisse Securities (USA) LLC toll free at 1-800-221-1037, Goldman Sachs & Co. LLC toll free at 1-866-471-2526, HSBC Securities (USA) Inc. toll free at 1-866-811-8049, Santander Investment Securities Inc. toll free at 1-855-403-3636 and SG Americas Securities, LLC toll free at 1-855-881-2108.