0001193125-14-085108.txt : 20140306 0001193125-14-085108.hdr.sgml : 20140306 20140305212536 ACCESSION NUMBER: 0001193125-14-085108 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20140306 DATE AS OF CHANGE: 20140305 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: MCKESSON CORP CENTRAL INDEX KEY: 0000927653 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-DRUGS PROPRIETARIES & DRUGGISTS' SUNDRIES [5122] IRS NUMBER: 943207296 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-179879 FILM NUMBER: 14671261 BUSINESS ADDRESS: STREET 1: ONE POST ST STREET 2: MCKESSON PLAZA CITY: SAN FRANCISCO STATE: CA ZIP: 94104 BUSINESS PHONE: 4159838300 MAIL ADDRESS: STREET 1: ONE POST ST CITY: SAN FRANCISCO STATE: CA ZIP: 94104 FORMER COMPANY: FORMER CONFORMED NAME: MCKESSON HBOC INC DATE OF NAME CHANGE: 19990115 FORMER COMPANY: FORMER CONFORMED NAME: MCKESSON CORP DATE OF NAME CHANGE: 19950209 FORMER COMPANY: FORMER CONFORMED NAME: SP VENTURES INC DATE OF NAME CHANGE: 19940728 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: MCKESSON CORP CENTRAL INDEX KEY: 0000927653 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-DRUGS PROPRIETARIES & DRUGGISTS' SUNDRIES [5122] IRS NUMBER: 943207296 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: ONE POST ST STREET 2: MCKESSON PLAZA CITY: SAN FRANCISCO STATE: CA ZIP: 94104 BUSINESS PHONE: 4159838300 MAIL ADDRESS: STREET 1: ONE POST ST CITY: SAN FRANCISCO STATE: CA ZIP: 94104 FORMER COMPANY: FORMER CONFORMED NAME: MCKESSON HBOC INC DATE OF NAME CHANGE: 19990115 FORMER COMPANY: FORMER CONFORMED NAME: MCKESSON CORP DATE OF NAME CHANGE: 19950209 FORMER COMPANY: FORMER CONFORMED NAME: SP VENTURES INC DATE OF NAME CHANGE: 19940728 FWP 1 d687481dfwp.htm FWP FWP
     

Free Writing Prospectus

Filed Pursuant to Rule 433

Registration No. 333-179879

Pricing Term Sheet

McKesson Corporation

Floating Rate Notes due 2015

1.292% Notes due 2017

2.284% Notes due 2019

3.796% Notes due 2024

4.883% Notes due 2044

 

Issuer:    McKesson Corporation
Title:    Floating Rate Notes due 2015    1.292%
Notes due
2017		   2.284% Notes
due 2019		   3.796% Notes
due 2024		   4.883%
Notes due
2044
Size:    $400,000,000    $700,000,000   $1,100,000,000   $1,100,000,000   $800,000,000
Maturity:    September 10, 2015    March 10,
2017		   March 15,
2019		   March 15,
2024		   March 15,
2044
Interest Payment Dates:    March 10, June 10, September 10 and December 10, commencing June 10, 2014    March 10
and
September
10,
commencing
September
10, 2014		   March 15 and
September
15,
commencing
September
15, 2014		   March 15 and
September
15,
commencing
September
15, 2014		   March 15
and
September
15,
commencing
September
15, 2014
Spread to LIBOR:    +40 bps         

Designated LIBOR page:

    Bloomberg L.P. BBAM Page         
Index Maturity:    3 Month LIBOR         
Interest Reset Dates:    March 10, June 10, September 10 and December 10         
Initial Interest Rate:    3 month LIBOR plus 0.40% determined on the second London business day prior to March 10, 2014         
Coupon:    —      1.292%   2.284%   3.796%   4.883%
Benchmark Treasury:    —      UST
0.625% due
2/15/2017		   UST 1.50%
due
2/28/2019		   UST 2.75%
due
2/15/2024		   UST 3.75%
due
11/15/2043
Treasury Yield:    —      0.692%   1.534%   2.696%   3.633%

Spread to Benchmark Treasury:

    —      +60 bps   +75 bps   +110 bps   +125 bps
Yield to Maturity:    —      1.292%   2.284%   3.796%   4.883%
Price to Public:    100.00%    100.00%   100.00%   100.00%   100.00%

Redemption:

               
Make Whole:    —      Treasury Rate
+10 bps		    Treasury Rate
+15 bps		    Treasury Rate
+20 bps		    Treasury Rate
+20 bps
Par Call:    —      not applicable    not applicable    Beginning
December 15,
2023, at par		    Beginning
September 15,
2043, at par
CUSIP:    581557 BA2    581557 BB0    581557 BD6    581557 BE4    581557 BC8
ISIN:    US581557BA29    US581557BB02    US581557BD67    US581557BE41    US581557BC84
Trade Date:    March 5, 2014      
Settlement Date:    March 10, 2014 (T+3)

Pro Forma Ratio of Earnings to Fixed Charges:

    The Issuer’s pro forma ratio of earnings to fixed charges, after giving effect to this offering, would have been 5.5x for the nine months ended December 31, 2013 and 5.1x for the year ended March 31, 2013.
Bookrunners:   

Goldman, Sachs and Co.

Merrill Lynch, Pierce, Fenner & Smith

                     Incorporated

   
Senior Co-Managers:   

Mitsubishi UFJ Securities (USA), Inc.

Scotia Capital (USA) Inc.

Wells Fargo Securities, LLC

      
Co-Managers:   

Fifth Third Securities, Inc.

PNC Capital Markets LLC

Rabo Securities USA, Inc.

HSBC Securities (USA) Inc.

Lloyds Securities Inc.

TD Securities (USA) LLC

U.S. Bancorp Investments, Inc.

      

The issuer has filed a registration statement (including a prospectus) with the 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 Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Goldman, Sachs & Co. toll-free at 1-866-471-2526 or Merrill Lynch, Pierce, Fenner & Smith Incorporated toll-free at 1-800-294-1322.

This pricing term sheet supplements the preliminary prospectus supplement dated March 5, 2014 and prospectus dated March 2, 2012.