Filed Pursuant to Rule 433

Registration No. 333-238212

May 13, 2020

THE GOODYEAR TIRE & RUBBER COMPANY

$600,000,000 9.500% Senior Notes due 2025

Pricing Term Sheet

The information in this pricing term sheet should be read together with (i) the preliminary prospectus supplement (the “Preliminary Prospectus Supplement”), dated May 13, 2020, as filed with the Securities and Exchange Commission (the “SEC”) pursuant to Rule 424(b) under the Securities Act of 1933, as amended, and (ii) the related base prospectus dated May 13, 2020, included in the Registration Statement (File No. 333-238212), in each case, including the documents incorporated by reference therein.

 

Issuer:    The Goodyear Tire & Rubber Company
Security:    9.500% Senior Notes due 2025 (the “Notes”)
Maturity:    May 31, 2025
Face Amount:    $600,000,000
Gross Proceeds:    $600,000,000
Gross Spread:    1.00%
Net Proceeds exclusive of accrued interest (after deducting underwriting discounts and commissions but before offering expenses):    $594,000,000
Coupon:    9.500%
Offering Price:    100% plus accrued interest, if any, from May 18, 2020
Yield:    9.500%
Trade Date:    May 13, 2020
Settlement Date*:    May 18, 2020 (T+3)
Interest Payment Dates:    May 31 and November 30, beginning November 30, 2020
Record Dates:    May 15 and November 15
Optional Redemption:    On or after:    Price:
   May 31, 2022    104.750%
   May 31, 2023    102.375%
   May 31, 2024 and thereafter    100.000%


Make-Whole:    Make-whole call @ T+50 bps prior to May 31, 2022
Equity Clawback:    35% at 109.500% prior to May 31, 2022
Spread to Treasury:    + 917 bps
Reference Treasury:    UST 2.875% due May 31, 2025
Underwriters:   

Goldman Sachs & Co. LLC

Barclays Capital Inc.

BNP Paribas Securities Corp.

BofA Securities, Inc.

Citigroup Global Markets Inc.

Credit Agricole Securities (USA) Inc.

Deutsche Bank Securities Inc.

J.P. Morgan Securities LLC

Wells Fargo Securities, LLC

BBVA Securities Inc.

Banco Bradesco BBI S.A.

MUFG Securities Americas Inc.

Natixis Securities Americas LLC

PNC Capital Markets LLC

SMBC Nikko Securities America, Inc.

UniCredit Capital Markets LLC

CUSIP/ISIN:    382550 BH3 / US382550BH30

The Issuer has filed a registration statement (including a prospectus and the related Preliminary Prospectus Supplement) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement, the Preliminary Prospectus Supplement 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 Preliminary Prospectus Supplement and the accompanying prospectus if you request it by calling Goldman Sachs & Co. LLC toll free at 1-866-471-2526.

 

*

Under Rule 15c6-1 under the Exchange Act, trades in the secondary market are required to settle in two business days, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade Notes prior to the second business day before delivery of the Notes hereunder will be required, by virtue of the fact that the Notes initially will settle T+ 3, to specify alternative settlement arrangements at the time of any such trade to prevent a failed settlement. Purchasers of the Notes who wish to trade the Notes prior to the second business day before delivery of the Notes hereunder should consult their advisors.

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