Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp)
May 04 2016 - 4:10PM
Edgar (US Regulatory)
Free Writing Prospectus, dated May 4, 2016
Filed pursuant to Rule 433 under the Securities Act of 1933
Registration No. 333-210992
C. R. Bard, Inc.
Pricing Term Sheet
May
4, 2016
U.S. $500,000,000 3.000% Senior Notes due 2026
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Issuer:
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C. R. Bard, Inc.
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Legal Format:
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SEC Registered
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Size:
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$500 million aggregate principal amount of 3.000% notes due 2026 (the “notes”)
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Expected Ratings:*
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Baa1 (Moody’s) / A (S&P)
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Trade Date:
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May 4, 2016
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Settlement Date:
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May 9, 2016 (T+3)
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Maturity Date:
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May 15, 2026
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Interest Payment Dates:
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Semi-annually on each May 15 and November 15; commencing on November 15, 2016
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Benchmark Treasury:
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UST 1.625% due February 15, 2026
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Spread to Benchmark Treasury:
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122 basis points
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Benchmark Treasury Price / Yield:
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98-19; 1.782%
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Yield to Maturity:
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3.002%
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Coupon (Interest Rate):
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3.000%
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Price to Public:
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99.982%
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Redemption Provision:
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Prior to February 15, 2026 (three months prior to their maturity date), make-whole call at any time and from time-to-time at a redemption price equal to the greater of (i) 100% of the principal amount of the notes being redeemed
and (ii) discounted present value of the principal and interest (exclusive of interest accrued to the date of redemption) at the treasury rate plus 20 basis points; on or after February 15, 2026, at 100% of the principal amount of notes
being redeemed; plus, in each case, accrued and unpaid interest, if any, to, but excluding, the redemption date.
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Denominations:
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$2,000 x $1,000
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CUSIP / ISIN:
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067383 AE9 / US067383AE91
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Joint Book-Running Managers:
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Merrill Lynch, Pierce, Fenner & Smith
Incorporated
Barclays Capital Inc.
J.P. Morgan Securities LLC
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Co-Managers:
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Goldman, Sachs & Co.
Mitsubishi UFJ
Securities (USA), Inc.
RBC Capital Markets, LLC
TD Securities
(USA) LLC
U.S. Bancorp Investments, Inc.
Wells Fargo
Securities, LLC
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Other Changes to the Preliminary Prospectus Supplement:
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Pro Forma Ratio of Earnings to Fixed Charges:
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As adjusted to give effect to the sale of the notes and the application of the estimated net proceeds as if they had occurred at the beginning of the respective periods, our ratio of earnings to fixed charges would have been
approximately 8.81x for the three months ended March 31, 2016 and 5.71x for the year ended December 31, 2015.
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*
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A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.
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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 prospectus relating to the offering may be obtained by calling or e-mailing Merrill Lynch, Pierce, Fenner & Smith Incorporated toll free at 1-800-294-1322 or
dg.prospectus_requests@baml.com; Barclays Capital Inc. toll free at 1-888-603-5847 or barclaysprospectus@broadridge.com; and J.P. Morgan Securities LLC collect at 1-212-834-4533.
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