Filed Pursuant to Rule 433
Issuer Free Writing Prospectus dated May 15, 2017
relating to
Preliminary Prospectus Supplement dated May 15, 2017 and
Prospectus dated March 2, 2016
Registration Statement No. 333-209889
International Flavors & Fragrances Inc.
$500,000,000 4.375% Senior Notes due 2047
Pricing Term Sheet
| Issuer: | International Flavors & Fragrances Inc. | |
| Securities: | 4.375% Senior Notes due 2047 (the “Notes”) | |
| Format: | SEC registered | |
| Ratings*: | Baa1 (stable) / BBB+ (stable) (Moody’s / S&P) | |
| Aggregate Principal Amount: | $500,000,000 | |
| Maturity Date: | June 1, 2047 | |
| Trade Date: | May 15, 2017 | |
| Settlement Date: | May 18, 2017 (T+3) | |
| Coupon: | 4.375% | |
| Interest Payment Dates: | June 1 and December 1 of each year, beginning on December 1, 2017 | |
| Public Offering Price: | 99.650% of principal amount, plus accrued interest, if any | |
| Net Proceeds to Issuer (after underwriting discount): | $493,875,000 | |
| Yield to Maturity: | 4.396% | |
| Benchmark Treasury: | 3.000% due February 15, 2047 | |
| Spread to Benchmark Treasury: | +137.5 basis points | |
| Benchmark Treasury Yield: | 3.021% | |
| Make-Whole Call: | At any time prior to December 1, 2046 at a price equal to greater of (1) 100% of the principal amount of the Notes to be redeemed and (2) a discount rate of Treasury Rate plus 25 basis points, plus accrued and unpaid interest to, but excluding, the date of redemption. | |
| Par Call: | At any time on or after December 1, 2046 at a price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the date of redemption. | |
| CUSIP / ISIN: | 459506 AE1/US459506AE19 | |
| Joint Book-Running Managers: | Citigroup Global Markets Inc. J.P. Morgan Securities LLC Morgan Stanley & Co. LLC BNP Paribas Securities Corp. | |
| Co-Managers: | Citizens Capital Markets, Inc. ING Financial Markets LLC U.S. Bancorp Investments, Inc. Wells Fargo Securities, LLC HSBC Securities (USA) Inc. Standard Chartered Bank | |
| * | A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal by the assigning rating organization at any time. Each rating should be evaluated independently of any other rating. |
The Issuer has filed a registration statement (including a prospectus) and a preliminary prospectus supplement with the Securities and Exchange Commission (SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement, the related preliminary prospectus supplement 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 and related preliminary prospectus supplement if you request it by calling Citigroup Global Markets Inc. toll-free at 1-800-831-9146, J.P. Morgan Securities LLC collect at 1-212-834-4533 or Morgan Stanley & Co. LLC toll-free at 1-866-718-1649.