0001193125-20-163336.txt : 20200608 0001193125-20-163336.hdr.sgml : 20200608 20200608145559 ACCESSION NUMBER: 0001193125-20-163336 CONFORMED SUBMISSION TYPE: 424B2 PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20200608 DATE AS OF CHANGE: 20200608 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DOW CHEMICAL CO /DE/ CENTRAL INDEX KEY: 0000029915 STANDARD INDUSTRIAL CLASSIFICATION: PLASTICS, MATERIALS, SYNTH RESINS & NONVULCAN ELASTOMERS [2821] IRS NUMBER: 381285128 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B2 SEC ACT: 1933 Act SEC FILE NUMBER: 333-232862-01 FILM NUMBER: 20948917 BUSINESS ADDRESS: STREET 1: 2211 H.H. DOW WAY CITY: MIDLAND STATE: MI ZIP: 48674-2030 BUSINESS PHONE: 989-636-1000 MAIL ADDRESS: STREET 1: 2211 H.H. DOW WAY CITY: MIDLAND STATE: MI ZIP: 48674-2030 424B2 1 d887950d424b2.htm 424B2 424B2

CALCULATION OF REGISTRATION FEE

Title of Each Class of Securities Offered

   Maximum
Aggregate
Offering Price
     Amount of
Registration Fee
 

1.900% InterNotes® Due June 15, 2025

   $ 4,037,000      $ 524.00  

2.650% InterNotes® Due June 15, 2030

   $ 865,000      $ 112.28  

3.750% InterNotes® Due June 15, 2050

   $ 2,940,000      $ 381.61  

Filed under 424(b)(2), Registration Statement No. 333-232862-01    

Pricing Supplement No. 24 - Dated Monday, June 8, 2020 (To: Prospectus Dated July 26, 2019, and Prospectus Supplement Dated July 26, 2019)    

CUSIP
Number

 

Principal
Amount

 

Selling
Price

 

Gross
Concession

 

Net
Proceeds

 

Coupon
Rate

 

Coupon
Frequency

 

Maturity
Date

 

1st
Coupon
Date

 

1st
Coupon
Amount

 

Survivor’s
Option

 

Product
Ranking

26054LT37

  $4,037,000.00   100%   1.250%   $3,986,537.50   1.900%   Semi-Annual   06/15/2025   12/15/2020   $9.71   Yes   Senior Unsecured Notes
Redemption Information: Callable at 100.000% on 12/15/2020 and any time thereafter.

Joint Lead Managers and Lead Agents: Incapital LLC                 Agents: Citigroup, Morgan Stanley, Wells Fargo Advisors

This tranche of The Dow Chemical Company InterNotes will be subject to redemption at the option of The Dow Chemical Company, in whole or in part, on the interest payment date occurring on 12/15/2020 and any time thereafter at a redemption price equal to 100% of the principal amount of such The Dow Chemical Company InterNotes plus accrued interest thereon, if any, upon not less than 10 nor more than 60 days prior notice to the noteholder and the trustee, as described in the prospectus.

 

Investment advisers purchasing for the account of their advisory clients and selected dealers purchasing on an agency basis or for their own accounts on a principal or riskless principal basis, may be offered Notes at a 0.8500% discount to the public offering rate. Notes purchased by selected dealers in level-fee and retirement accounts may be sold to such accounts at a discount up to 0.8500% to the public offering price, thereby not retaining any portion of the discount as compensation.

26054LT45   $865,000.00   100%   1.800%   $849,430.00   2.650%   Semi-Annual   06/15/2030   12/15/2020   $13.54   Yes   Senior Unsecured Notes

Redemption Information: Callable at 100.000% on 12/15/2020 and any time thereafter.

 

Joint Lead Managers and Lead Agents: Incapital LLC                 Agents: Citigroup, Morgan Stanley, Wells Fargo Advisors

This tranche of The Dow Chemical Company InterNotes will be subject to redemption at the option of The Dow Chemical Company, in whole or in part, on the interest payment date occurring on 12/15/2020 and any time thereafter at a redemption price equal to 100% of the principal amount of such The Dow Chemical Company InterNotes plus accrued interest thereon, if any, upon not less than 10 nor more than 60 days prior notice to the noteholder and the trustee, as described in the prospectus.

 

Investment advisers purchasing for the account of their advisory clients and selected dealers purchasing on an agency basis or for their own accounts on a principal or riskless principal basis, may be offered Notes at a 1.2500% discount to the public offering rate. Notes purchased by selected dealers in level-fee and retirement accounts may be sold to such accounts at a discount up to 1.2500% to the public offering price, thereby not retaining any portion of the discount as compensation.

26054LT52   $2,940,000.00   100%   3.150%   $2,847,390.00   3.750%   Semi-Annual   06/15/2050   12/15/2020   $19.17   Yes   Senior Unsecured Notes

Redemption Information: Callable at 100.000% on 12/15/2020 and any time thereafter.

 

Joint Lead Managers and Lead Agents: Incapital LLC                 Agents: Citigroup, Morgan Stanley, Wells Fargo Advisors

This tranche of The Dow Chemical Company InterNotes will be subject to redemption at the option of The Dow Chemical Company, in whole or in part,
on the interest payment date occurring on 12/15/2020 and any time thereafter at a redemption price equal to 100% of the principal amount of such The
Dow Chemical Company InterNotes plus accrued interest thereon, if any, upon not less than 10 nor more than 60 days prior notice to the noteholder and
the trustee, as described in the prospectus.

 

Investment advisers purchasing for the account of their advisory clients and selected dealers purchasing on an agency basis or for their own accounts on a
principal or riskless principal basis, may be offered Notes at a 2.4000% discount to the public offering rate. Notes purchased by selected dealers in level-fee and
retirement accounts may be sold to such accounts at a discount up to 2.4000% to the public offering price, thereby not retaining any portion of the discount as
compensation.

 

LOGO

The Dow Chemical Company

2211 H.H. Dow Way

Midland, Michigan 48674

  

Trade Date: Monday, June 8, 2020 @ 12:00 PM ET

Settle Date: Thursday, June 11, 2020

Minimum Denomination/Increments: $1,000.00/$1,000.00

Initial trades settle flat and clear SDFS: DTC Book Entry only

DTC Number 0235 via RBC Dain Rauscher Inc

 

If the maturity date or an interest payment date for any note is not a business day (as such term is defined in prospectus), principal and premium, if any, and interest for that note is paid on the next business day, and no further such interest will accrue from, and including, the maturity date or such interest payment date.

 

 

  

The Dow Chemical Company

 

The Dow Chemical Company InterNotes

   Legal Matters:   
   In the opinion of Jonathan Wendt, Managing Counsel and Assistant Secretary, of The Dow Chemical Company (the “Company”), the notes offered by this pricing supplement have been duly authorized, and when executed and issued by the Company, authenticated by the Trustee pursuant to the Indenture, and delivered against payment as contemplated herein, such notes will be legal, valid and binding obligations of the Company, enforceable against the Company in accordance with their terms and entitled to the benefits of the Indenture (subject to applicable bankruptcy, reorganization, insolvency, moratorium or other laws affecting creditors’ rights generally from time to time in effect and to general principles of equity). This opinion is given as of the date hereof and is limited to the law of the State of New York and the General Corporation Law of the State of Delaware as in effect on the date hereof. In addition, this opinion is subject to the same assumptions and qualifications stated in the letter of such counsel dated May 12, 2020, filed in the Company’s Current Report on Form 8-K dated May 12, 2020 and incorporated by reference as Exhibit 5.1 to the Company’s registration statement on Form S-3 ASR (File No. 333- 232862-01).   
   InterNotes® is a registered trademark of Incapital Holdings LLC. All Rights Reserved.   
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