-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, K9V2Iqy8SHBbyJpwk7biO1Tq7ji5e0hoOIRBELXiakzq0B50/gChWmvggUaGd1q4 RugArZBBFmzAlhr9MfxdCw== 0000950103-10-001442.txt : 20100513 0000950103-10-001442.hdr.sgml : 20100513 20100513150958 ACCESSION NUMBER: 0000950103-10-001442 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20100513 DATE AS OF CHANGE: 20100513 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: CVS CAREMARK CORP CENTRAL INDEX KEY: 0000064803 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-DRUG STORES AND PROPRIETARY STORES [5912] IRS NUMBER: 050494040 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-165672 FILM NUMBER: 10828108 BUSINESS ADDRESS: STREET 1: ONE CVS DR. CITY: WOONSOCKET STATE: RI ZIP: 02895 BUSINESS PHONE: 4017651500 MAIL ADDRESS: STREET 1: ONE CVS DR. CITY: WOONSOCKET STATE: RI ZIP: 02895 FORMER COMPANY: FORMER CONFORMED NAME: CVS/CAREMARK CORP DATE OF NAME CHANGE: 20070322 FORMER COMPANY: FORMER CONFORMED NAME: CVS CORP DATE OF NAME CHANGE: 19970128 FORMER COMPANY: FORMER CONFORMED NAME: MELVILLE CORP DATE OF NAME CHANGE: 19920703 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: CVS CAREMARK CORP CENTRAL INDEX KEY: 0000064803 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-DRUG STORES AND PROPRIETARY STORES [5912] IRS NUMBER: 050494040 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: ONE CVS DR. CITY: WOONSOCKET STATE: RI ZIP: 02895 BUSINESS PHONE: 4017651500 MAIL ADDRESS: STREET 1: ONE CVS DR. CITY: WOONSOCKET STATE: RI ZIP: 02895 FORMER COMPANY: FORMER CONFORMED NAME: CVS/CAREMARK CORP DATE OF NAME CHANGE: 20070322 FORMER COMPANY: FORMER CONFORMED NAME: CVS CORP DATE OF NAME CHANGE: 19970128 FORMER COMPANY: FORMER CONFORMED NAME: MELVILLE CORP DATE OF NAME CHANGE: 19920703 FWP 1 dp17638_fwp.htm FWP
 
Free Writing Prospectus
Filed Pursuant to Rule 433
Registration Statement No. 333-165672
 
FINAL TERM SHEET
Dated May 13, 2010
 
CVS CAREMARK CORPORATION
 
Issuer:
CVS Caremark Corporation (“CVS Caremark”)
   
Description of Securities:
$550,000,000 3.250% Senior Notes due May 18, 2015 (“2015 Notes”)
 
$450,000,000 4.750% Senior Notes due May 18, 2020 (“2020 Notes”)
   
Security Type:
Senior Notes
   
Legal Format:
SEC Registered (Registration No. 333-165672)
   
Settlement Date:
May 18, 2010 (T+3)
   
Maturity Date:
May 18, 2015
 
May 18, 2020
   
Issue Price:
2015 Notes: 99.854% of principal amount
 
2020 Notes: 99.505% of principal amount
   
Coupon:
2015 Notes: 3.250%
 
2020 Notes: 4.750%
   
Benchmark Treasury:
2015 Notes: 2.500% UST due April 30, 2015
 
2020 Notes: 3.625% UST due February 15, 2020
   
Benchmark Treasury Strike:
2015 Notes: 101-0+; 2.282%
 
2020 Notes: 100-16; 3.563%
   
Spread to Benchmark Treasury:
2015 Notes: +100 basis points (1.000%)
 
2020 Notes: +125 basis points (1.250%)
   
Yield to Maturity
2015 Notes: 3.282%
 
2020 Notes: 4.813%
   
Interest Payment Dates:
Semi-annually on May 18 and November 18, commencing on November 18, 2010
   
Change of Control:
Upon the occurrence of both (i) a change of control of CVS Caremark and (ii) a downgrade of the notes below an investment grade rating by each of Fitch Ratings, Moody’s Investors Service, Inc. and Standard & Poor’s Ratings Services within a specified period, CVS Caremark will be required to make an offer to purchase the notes at a price equal to 101% of their principal amount, plus accrued and unpaid interest to the date of repurchase.  See “Description of the Notes – Change of Control” on page S-15 of the Preliminary Prospectus Supplement dated May 13, 2010.
 
 
 
Redemption Provisions:
2015 Notes: Make-whole call at any time at the greater of 100% or discounted present value at Treasury Yield plus 15 basis points
  2020 Notes: Prior to six months before the maturity date, make-whole call at any time at the greater of 100% or discounted present value at Treasury Yield plus 20 basis points.  Thereafter, redeemable at 100%.
   
Denominations:
$2,000 and integral multiples of $1,000 thereof
   
Use of Proceeds:
For general corporate purposes, including the repayment of certain corporate debt.  See “Use of Proceeds” on page S-7 of the Preliminary Prospectus Supplement dated May 13, 2010.
   
Underwriting Discounts and Commissions:
2015 Notes: 0.600%
 
2020 Notes: 0.650%
   
Joint Book-Running Managers:
Barclays Capital Inc.
 
Banc of America Securities LLC
 
BNY Mellon Capital Markets, LLC
 
J.P. Morgan Securities Inc.
 
Wells Fargo Securities, LLC
   
CUSIP Number:
2015 Notes: 126650BT6
 
2020 Notes: 126650BU3
   
Ratings*:
Baa2 / BBB+ / BBB+ (Moody’s / S&P / Fitch)
   
 
*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 U.S. 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, 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, you may obtain a copy of the prospectus from Barclays Capital Inc. by calling toll-free 1-888-603-5847.

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