FWP



CUSIP/ISIN:		693506BP1 / US693506BP19

Joint Book-Running Managers:		J.P. Morgan Securities LLC BBVA Securities Inc. Mizuho Securities USA LLC SMBC Nikko Securities America, Inc.

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This final term sheet supplements, and should be read in conjunction with, the issuer’s preliminary prospectus supplement dated August 24, 2020 and accompanying base prospectus dated February 24, 2020.

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Issuer:		PPG Industries, Inc.

Title of Securities:		3.750% Senior Notes due 2028

*Long-Term Debt Ratings:**		Moody’s: A3 (negative outlook) S&P: BBB+ (negative outlook) Fitch: A- (negative outlook)

Format:		SEC-Registered

Principal Amount Offered:		$100,000,000

Original Principal Amount:		There is currently outstanding $700,000,000 in aggregate principal amount of 3.750% Notes due 2028 that were issued on February 27, 2018. After giving effect to this issuance, $800,000,000 in aggregate principal amount of the 3.750% Notes due 2028 will be outstanding. The notes offered hereby will be fungible with the previously issued notes of this series and both the notes offered hereby and such previously issued notes, taken together, will be treated as a single series for all purposes.

Trade Date:		August 24, 2020

Settlement Date (T+2):		August 26, 2020

Maturity Date:		March 15, 2028

Price to Public:		119.819% of the principal amount offered, plus accrued interest of $1,677,083.33 from, and including, March 15, 2020

Coupon:		3.750% per annum

Yield to Maturity:		0.936%

Spread to Benchmark Treasury:		T + 30 bps

Benchmark Treasury:		0.625% UST due August 15, 2030

Benchmark Treasury Price and Yield:		99-28+; 0.636%

Interest Payment Dates:		Semiannually in arrears on each March 15 and September 15, commencing on September 15, 2020

Make-Whole Call:		Prior to December 15, 2027 (the date that is three months prior to maturity), the greater of par or make-whole at Treasury Rate (as defined in the prospectus supplement) plus 15 bps

Par Call:		On or after December 15, 2027