Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp)
June 06 2019 - 6:02AM
Edgar (US Regulatory)
Free Writing Prospectus
Filed Pursuant to Rule 433
File
No. 333-219345
June 5, 2019
APACHE
CORPORATION
PRICING TERM SHEET
$600,000,000 4.250% Notes due 2030
$400,000,000 5.350% Notes due 2049
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Issuer:
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Apache Corporation
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Expected Ratings*:
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Baa3 /BBB /BBB (Moodys/S&P/Fitch)
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Offering Format:
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SEC Registered
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Trade Date:
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June 5, 2019
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Settlement Date:
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T+10; June 19, 2019
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4.250% Notes due 2030
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Principal Amount:
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$600,000,000
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CUSIP / ISIN:
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037411 BF1 / US037411BF15
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Maturity Date:
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January 15, 2030
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Public Offering Price:
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99.819% of principal amount
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Net Proceeds to the Issuer Before Expenses:
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$595,014,000
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Coupon:
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4.250% per year (payable semi-annually)
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Interest Payment Dates:
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January 15 and July 15, commencing January 15, 2020
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Benchmark Treasury:
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2.375% due May 15, 2029
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Benchmark Treasury Price and Yield:
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102-08+;
2.121%
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Spread to Benchmark Treasury:
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+215 basis points
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Yield to Maturity:
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4.271%
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Redemption Provisions:
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The 2030 Notes will be redeemable, at the option of Apache Corporation, at any time, in whole or in part.
If the 2030 Notes are redeemed before the date that is three months prior to their
maturity date, the notes of the applicable series may be redeemed at a redemption price equal to the greater of:
(i) 100% of the principal amount; or
(ii) the sum of the present values of the remaining scheduled payments of principal and interest thereon
discounted to the date of redemption, on a semiannual basis, at the treasury rate plus 35 basis points;
plus
, in each case, accrued and unpaid interest to the date of redemption.
If the 2030 Notes are redeemed on or after the date that is three months prior to their maturity date, the notes of the applicable series may be redeemed at a
redemption price equal to 100% of the principal amount of the notes to be redeemed
plus
accrued and unpaid interest on the principal amount of the notes being redeemed to the redemption date.
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5.350% Notes due 2049
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Principal Amount:
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$400,000,000
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CUSIP / ISIN:
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037411 BG97 / US037411BG97
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Maturity Date:
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July 1, 2049
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Public Offering Price:
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99.391% of principal amount
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Net Proceeds to the Issuer Before Expenses:
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$394,064,000
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Coupon:
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5.350% per year (payable semi-annually)
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Interest Payment Dates:
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January 1 and July 1, commencing January 1, 2020
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Benchmark Treasury:
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3.000% due February 15, 2049
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Benchmark Treasury Price and Yield:
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107-11+;
2.641%
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Spread to Benchmark Treasury:
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+275 basis points
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Yield to Maturity:
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5.391%
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Redemption Provisions:
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The 2049 Notes will be redeemable, at the option of Apache Corporation, at any time, in whole or in part.
If the 2049 Notes are redeemed before the date that is six months prior to their
maturity date, the notes of the applicable series may be redeemed at a redemption price equal to the greater of:
(i) 100% of the principal amount; or
(ii) the sum of the present values of the remaining scheduled payments of principal and interest thereon
discounted to the date of redemption, on a semiannual basis, at the treasury rate plus 45 basis points;
plus
, in each case, accrued and unpaid interest to the date of redemption.
If the 2049 Notes are redeemed on or after the date that is six months prior to their maturity date, the notes of the applicable series may be redeemed at a
redemption price equal to 100% of the principal amount of the notes to be redeemed
plus
accrued and unpaid interest on the principal amount of the notes being redeemed to the redemption date.
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Other Information
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Denominations:
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$2,000 and integral multiples of $1,000
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Joint Book-Running Managers:
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Citigroup Global Markets Inc.
HSBC Securities
(USA) Inc.
TD Securities (USA) LLC
Wells Fargo Securities,
LLC
Barclays Capital Inc.
BMO Capital Markets Corp.
BofA Securities, Inc.
Goldman Sachs & Co. LLC
Mizuho Securities USA LLC
MUFG Securities Americas Inc.
RBC Capital Markets, LLC
Scotia Capital (USA) Inc.
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2
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Co-Managers:
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Capital One Securities, Inc.
Credit Suisse
Securities (USA) LLC
ING Financial Markets LLC
J.P. Morgan
Securities LLC
SG Americas Securities, LLC
SunTrust Robinson
Humphrey, Inc.
Academy Securities, Inc.
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*
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Note: A security rating is not a recommendation to buy, sell or hold securities, it may be revised or withdrawn
at any time by the assigning rating organization, and each rating presented should be evaluated independently of any other rating.
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The
Issuer has filed a registration statement (including a prospectus and related preliminary prospectus supplement for the offering) with the U.S. Securities and Exchange Commission (the SEC) for the offering to which this communication
relates. Before you invest, you should read the preliminary prospectus supplement, the accompanying prospectus in that registration statement and the other documents the Issuer has filed with the SEC for more complete information about the Issuer
and the offering. You may get these documents for free by visiting EDGAR on the SECs website at http://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 Citigroup Global Markets Inc. at
1-800-831-9146,
HSBC Securities (USA) Inc. at
1-866-811-8049,
TD Securities (USA) LLC at
1-855-495-9846
or Wells Fargo Securities, LLC at
1-800-645-3751.
This communication should be read in conjunction with the preliminary prospectus supplement and the accompanying prospectus. The information in this
communication supersedes the information in the preliminary prospectus supplement and the accompanying prospectus to the extent it is inconsistent with the information in such preliminary prospectus supplement or the accompanying prospectus.
ANY DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR BELOW ARE NOT APPLICABLE TO THIS COMMUNICATION AND SHOULD BE DISREGARDED. SUCH DISCLAIMERS OR OTHER NOTICES
WERE AUTOMATICALLY GENERATED AS A RESULT OF THIS COMMUNICATION BEING SENT VIA BLOOMBERG OR ANOTHER EMAIL SYSTEM.
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