Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp)
April 30 2020 - 6:14AM
Edgar (US Regulatory)
Filed Pursuant to Rule 433
Registration No. 333-236366
FINAL TERM SHEET
Philip
Morris International Inc.
Dated April 29, 2020
1.125% Notes due 2023
1.500%
Notes due 2025
2.100% Notes due 2030
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Issuer:
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Philip Morris International Inc.
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Offering Format:
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SEC Registered
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Security:
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1.125% Notes due 2023 (the “2023 Notes”)
1.500% Notes due 2025 (the “2025 Notes”)
2.100% Notes due 2030 (the “2030 Notes”)
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Aggregate Principal Amount:
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2023 Notes: $750,000,000
2025 Notes: $750,000,000
2030 Notes: $750,000,000
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Maturity Date:
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2023 Notes: May 1, 2023
2025 Notes: May 1, 2025
2030 Notes: May 1, 2030
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Coupon:
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2023 Notes: 1.125%
2025 Notes: 1.500%
2030 Notes: 2.100%
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Interest Payment Dates:
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2023 Notes: Semi-annually on each May 1 and November 1, commencing November 1, 2020
2025 Notes: Semi-annually on each May 1 and November 1, commencing November 1, 2020
2030 Notes: Semi-annually on each May 1 and November 1, commencing November 1, 2020
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Record Dates:
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2023 Notes: April 15 and October 15
2025 Notes: April 15 and October 15
2030 Notes: April 15 and October 15
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Price to Public:
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2023 Notes: 99.665% of principal amount
2025 Notes: 99.512% of principal amount
2030 Notes: 99.383% of principal amount
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Underwriting Discount:
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2023 Notes: 0.200% of principal amount
2025 Notes: 0.300% of principal amount
2030 Notes: 0.450% of principal amount
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Net Proceeds:
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2023 Notes: $745,987,500 (before expenses)
2025 Notes: $744,090,000 (before expenses)
2030 Notes: $741,997,500 (before expenses)
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Benchmark Treasury:
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2023 Notes: 0.250% due April 15, 2023
2025 Notes: 0.500% due March 31, 2025
2030 Notes: 1.500% due February 15, 2030
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Benchmark Treasury Price/Yield:
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2023 Notes: 100-01 / 0.239%
2025 Notes: 100-23 / 0.352%
2030 Notes: 108-11+ / 0.619%
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Spread to Benchmark Treasury:
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2023 Notes: +100 basis points
2025 Notes: +125 basis points
2030 Notes: +155 basis points
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Yield to Maturity:
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2023 Notes: 1.239%
2025 Notes: 1.602%
2030 Notes: 2.169%
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Optional Redemption:
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2023 Notes: Make-whole redemption at Treasury plus 15 bps at any time
2025 Notes:
Prior to April 1, 2025: Make-whole redemption at Treasury plus 20 bps
On or after April 1, 2025: Redemption at par
2030 Notes:
Prior to February 1, 2030: Make-whole redemption at Treasury plus 25 bps
On or after February 1, 2030: Redemption at par
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Settlement Date (T+2):
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May 1, 2020
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CUSIP/ISIN:
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2023 Notes: CUSIP Number: 718172 CQ0
ISIN Number: US718172CQ07
2025
Notes: CUSIP Number: 718172 CN7
ISIN Number: US718172CN75
2030
Notes: CUSIP Number: 718172 CP2
ISIN Number: US718172CP24
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Listing:
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None
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Joint Book-Running Managers:
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Banca IMI S.p.A.
BBVA Securities Inc.
Citigroup Global Markets Inc.
Deutsche Bank Securities Inc.
Goldman Sachs & Co. LLC
Mizuho Securities USA LLC
SMBC Nikko Securities America, Inc.
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Co-Managers:
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BofA Securities, Inc.
Commerz Markets LLC
UBS Securities LLC
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Allocations:
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2023 Notes
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2025 Notes
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2030 Notes
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Banca IMI S.p.A.
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$
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97,500,000
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$
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97,500,000
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$
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97,500,000
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BBVA Securities Inc.
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$
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97,500,000
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$
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97,500,000
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$
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97,500,000
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Citigroup Global Markets Inc.
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$
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97,500,000
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$
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97,500,000
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$
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97,500,000
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Deutsche Bank Securities Inc.
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$
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97,500,000
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$
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97,500,000
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$
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97,500,000
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Goldman Sachs & Co. LLC
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$
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97,500,000
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$
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97,500,000
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$
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97,500,000
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Mizuho Securities USA LLC
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$
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97,500,000
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$
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97,500,000
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$
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97,500,000
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SMBC Nikko Securities America, Inc.
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$
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97,500,000
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$
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97,500,000
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$
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97,500,000
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BofA Securities, Inc.
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$
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22,500,000
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$
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22,500,000
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$
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22,500,000
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Commerz Markets LLC
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$
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22,500,000
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$
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22,500,000
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$
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22,500,000
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UBS Securities LLC
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$
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22,500,000
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$
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22,500,000
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$
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22,500,000
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Total
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$
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750,000,000
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$
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750,000,000
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$
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750,000,000
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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 website 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 Banca IMI S.p.A. toll
free at 1-800-477-9296, BBVA Securities Inc. toll free at 1-800-266-7277, Citigroup Global Markets Inc. toll free at 1-800-831-9146,
Deutsche Bank Securities Inc. toll free at 1-800-503-4611, Goldman Sachs & Co. LLC toll free at 1-866-471-2526, Mizuho Securities USA LLC toll free at 1-866-271-7403, and SMBC Nikko Securities America, Inc. toll free at
1-888-868-6856.
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