0001193125-20-141681.txt : 20200513 0001193125-20-141681.hdr.sgml : 20200513 20200513164632 ACCESSION NUMBER: 0001193125-20-141681 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20200513 DATE AS OF CHANGE: 20200513 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ALLEGHANY CORP /DE CENTRAL INDEX KEY: 0000775368 STANDARD INDUSTRIAL CLASSIFICATION: FIRE, MARINE & CASUALTY INSURANCE [6331] IRS NUMBER: 271354706 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-238047 FILM NUMBER: 20873764 BUSINESS ADDRESS: STREET 1: 1411 BROADWAY STREET 2: 34TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10018 BUSINESS PHONE: 212-508-8130 MAIL ADDRESS: STREET 1: 1411 BROADWAY STREET 2: 34TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10018 FORMER COMPANY: FORMER CONFORMED NAME: ALLEGHANY FINANCIAL CORP DATE OF NAME CHANGE: 19870115 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: ALLEGHANY CORP /DE CENTRAL INDEX KEY: 0000775368 STANDARD INDUSTRIAL CLASSIFICATION: FIRE, MARINE & CASUALTY INSURANCE [6331] IRS NUMBER: 271354706 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: 1411 BROADWAY STREET 2: 34TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10018 BUSINESS PHONE: 212-508-8130 MAIL ADDRESS: STREET 1: 1411 BROADWAY STREET 2: 34TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10018 FORMER COMPANY: FORMER CONFORMED NAME: ALLEGHANY FINANCIAL CORP DATE OF NAME CHANGE: 19870115 FWP 1 d932154dfwp.htm FWP FWP

Issuer Free Writing Prospectus

Filed Pursuant to Rule 433

Registration Statement No. 333-238047

Supplementing the

Preliminary Prospectus Supplement

dated May 11, 2020

(To Prospectus dated May 6, 2020)

Alleghany Corporation

$500,000,000 3.625% SENIOR NOTES DUE 2030

Final Term Sheet

May 13, 2020

 

Issuer:    Alleghany Corporation
Title of Securities:    3.625% Senior Notes due 2030 (the “Notes”)
Security Type:    Senior Unsecured Fixed Rate Notes
Ratings* (Moody’s / S&P):    Baa1 (Moody’s) / BBB+ (S&P)
Format:    SEC Registered
Trade Date:    May 13, 2020
Settlement Date** (T+3):    May 18, 2020
Maturity Date:    May 15, 2030
Aggregate Principal Amount Offered:    $500,000,000
Benchmark Treasury:    1.500% due February 15, 2030
Benchmark Treasury Price / Yield:    108-03+ / 0.641%
Spread to Benchmark:    T + 300 bps
Re-offer Yield:    3.641%
Coupon:    3.625% per annum
Price to the Public (Issue Price):    99.867%
Gross Spread    0.65%
Net Price:    99.217%
Net Proceeds to Issuer (before expenses):    $496,085,000
Interest Payment Dates:    Semi-annually on May 15 and November 15 of each year, commencing November 15, 2020
Optional Redemption    Make-whole call at any time prior to February 15, 2030 at a discount rate of Treasury rate + 45 basis points; or on or after February 15, 2030 at par.
CUSIP/ISIN:    017175 AE0 / US017175AE07
Minimum Denomination    $2,000 and integral multiples of $1,000 in excess thereof
Joint Book—Running Managers   

BMO Capital Markets Corp.

Goldman Sachs & Co. LLC

U.S. Bancorp Investments, Inc.

Wells Fargo Securities, LLC

*

An explanation of the significance of ratings may be obtained from the rating agencies. Generally, rating agencies base their ratings on such material and information, and such of their own investigations, studies and assumptions, as they deem appropriate. The ratings of the Notes should be evaluated independently from similar ratings of other securities. A credit rating of a security is not a recommendation to buy, sell or hold securities and may be subject to review, suspension, reduction or withdrawal at any time by the assigning rating agency.

**

We expect that delivery of the Notes will be made against payment therefor on or about the settlement date specified above, which will be the third business day following the date of this term sheet. Under Rule 15c6-1 of the Securities and Exchange Commission (the “SEC”) under the Securities Exchange Act of 1934, as amended, trades in the secondary market generally are required to settle in two business days, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the Notes on the date of this term sheet or the following business day will be required, by virtue of the fact that the Notes initially will settle in T+3, to specify an alternate settlement cycle at the time of any such trade to prevent a failed settlement. Purchasers of the Notes who wish to trade the Notes on the date hereof or the following business day should consult their own advisor.

The issuer 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 prospectus supplement 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, or any underwriter participating in the offering will arrange to send you the prospectus supplement if you request it by calling BMO Capital Markets Corp., at 1-212-702-1191; Goldman Sachs & Co. LLC, at 1-866-471-2526; U.S. Bancorp Investments, Inc., at 1-877-558-2607; or Wells Fargo Securities, LLC, at 1-800-645-3751.

 

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