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Federal Express International Inc – ‘FWP’ on 4/3/20 re: Federal Express International Inc

On:  Friday, 4/3/20, at 4:53pm ET   ·   Accession #:  1104659-20-43171   ·   File #:  333-226426-09

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 4/03/20  Federal Express International Inc FWP                    1:140K Federal Express International Inc Toppan Merrill/FA

Free-Writing Prospectus   —   Rule 163 / 433   —   SA’33
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: FWP         Free-Writing Prospectus                             HTML     88K 


This is an HTML Document rendered as filed.  [ Alternative Formats ]



 

Free Writing Prospectus Filed Pursuant to Rule 433

Registration Statement No. 333-226426

April 3, 2020

 

FedEx Corporation

 

Final Term Sheet

 

$1,000,000,000 3.800% Notes due 2025

$750,000,000 4.250% Notes due 2030

$1,250,000,000 5.250% Notes due 2050

 

The information in this final term sheet relates to FedEx Corporation’s offering of notes in the series listed above and should be read together with the preliminary prospectus supplement dated April 3, 2020 relating to such offering (the “Preliminary Prospectus Supplement”) and the accompanying base prospectus dated July 30, 2018 (the “Base Prospectus”), including the documents incorporated by reference therein, each filed pursuant to Rule 424(b) under the Securities Act of 1933, as amended, Registration Statement No. 333-226426.

 

3.800% Notes due 2025

 

Issuer:

 

FedEx Corporation

 

 

 

Guarantors:

 

Federal Express Corporation

 

 

FedEx Ground Package System, Inc.

 

 

FedEx Freight Corporation

 

 

FedEx Freight, Inc.

 

 

FedEx Corporate Services, Inc.

 

 

FedEx Office and Print Services, Inc.

 

 

Federal Express Europe, Inc.

 

 

Federal Express Holdings S.A., LLC

 

 

Federal Express International, Inc.

 

 

 

Title of Securities:

 

$1,000,000,000 3.800% Notes due 2025

 

 

 

Principal Amount:

 

$1,000,000,000

 

 

 

Expected Ratings (Moody’s / S&P)*:

 

Baa2 / BBB

 

 

 

Trade Date:

 

April 3, 2020

 

 

 

Settlement Date (T+2):

 

April 7, 2020

 

 

 

Stated Maturity Date:

 

May 15, 2025

 

 

 

Interest Payment Dates:

 

Semi-annually on each May 15 and November 15, commencing November 15, 2020

 

 

 

Optional Redemption Provisions:

 

 

 

 

 

Make-whole Call:

 

Prior to April 15, 2025, make-whole call at T+50 basis points

 

 

 

Par Call:

 

On or after April 15, 2025

 

 

 

Benchmark Treasury:

 

UST 0.500% due March 31, 2025

 

 

 

Benchmark Treasury Price / Yield:

 

100-22 ¼ / 0.359%

 

 

 

Spread to Benchmark Treasury:

 

+350 basis points

 

 

 

Reoffer Yield:

 

3.859%

 

 

 

Coupon:

 

3.800% per annum

 

 

 

Price to Public:

 

99.724% of Principal Amount

 


 

CUSIP / ISIN:

 

31428X BY1 / US31428XBY13

 

 

 

Joint Book-Running Managers:

 

BofA Securities, Inc.

 

 

Goldman Sachs & Co. LLC

 

 

J.P. Morgan Securities LLC

 

 

Wells Fargo Securities, LLC

 

 

Citigroup Global Markets Inc.

 

 

Morgan Stanley & Co. LLC

 

 

Scotia Capital (USA) Inc.

 

 

 

Co-Managers:

 

BNP Paribas Securities Corp.

 

 

Deutsche Bank Securities Inc.

 

 

HSBC Securities (USA) Inc.

 

 

ING Financial Markets LLC

 

 

Mizuho Securities USA LLC

 

 

Regions Securities LLC

 

 

SunTrust Robinson Humphrey, Inc.

 

 

FTN Financial Securities Corp.

 

 

KBC Securities USA LLC

 

 

MUFG Securities Americas, Inc.

 

 

PNC Capital Markets LLC

 

 

Seibert Williams & Shank & Co., LLC

 

 

Standard Chartered Bank

 

 

Sumitomo Mitsui Banking Corporation

 

 

U.S. Bancorp Investments, Inc.

 

4.250% Notes due 2030

 

Issuer:

 

FedEx Corporation

 

 

 

Guarantors:

 

Federal Express Corporation

 

 

FedEx Ground Package System, Inc.

 

 

FedEx Freight Corporation

 

 

FedEx Freight, Inc.

 

 

FedEx Corporate Services, Inc.

 

 

FedEx Office and Print Services, Inc.

 

 

Federal Express Europe, Inc.

 

 

Federal Express Holdings S.A., LLC

 

 

Federal Express International, Inc.

 

 

 

Title of Securities:

 

$750,000,000 4.250% Notes due 2030

 

 

 

Principal Amount:

 

$750,000,000

 

 

 

Expected Ratings (Moody’s / S&P)*:

 

Baa2 / BBB

 

 

 

Trade Date:

 

April 3, 2020

 

 

 

Settlement Date (T+2):

 

April 7, 2020

 

 

 

Stated Maturity Date:

 

May 15, 2030

 

 

 

Interest Payment Dates:

 

Semi-annually on each May 15 and November 15, commencing November 15, 2020

 

 

 

Optional Redemption Provisions:

 

 

 

 

 

Make-whole Call:

 

Prior to February 15, 2030, make-whole call at T+50 basis points

 


 

Par Call:

 

On or after February 15, 2030

 

 

 

Benchmark Treasury:

 

UST 1.500% due February 15, 2030

 

 

 

Benchmark Treasury Price / Yield:

 

108-26 / 0.579%

 

 

 

Spread to Benchmark Treasury:

 

+370 basis points

 

 

 

Reoffer Yield:

 

4.279%

 

 

 

Coupon:

 

4.250% per annum

 

 

 

Price to Public:

 

99.758% of Principal Amount

 

 

 

CUSIP / ISIN:

 

31428X BZ8 / US31428XBZ87

 

 

 

Joint Book-Running Managers:

 

BofA Securities, Inc.

 

 

Goldman Sachs & Co. LLC

 

 

J.P. Morgan Securities LLC

 

 

Wells Fargo Securities, LLC

 

 

Citigroup Global Markets Inc.

 

 

Morgan Stanley & Co. LLC

 

 

Scotia Capital (USA) Inc.

 

 

 

Co-Managers:

 

BNP Paribas Securities Corp.

 

 

Deutsche Bank Securities Inc.

 

 

HSBC Securities (USA) Inc.

 

 

ING Financial Markets LLC

 

 

Mizuho Securities USA LLC

 

 

Regions Securities LLC

 

 

SunTrust Robinson Humphrey, Inc.

 

 

FTN Financial Securities Corp.

 

 

KBC Securities USA LLC

 

 

MUFG Securities Americas, Inc.

 

 

PNC Capital Markets LLC

 

 

Seibert Williams & Shank & Co., LLC

 

 

Standard Chartered Bank

 

 

Sumitomo Mitsui Banking Corporation

 

 

U.S. Bancorp Investments, Inc.

 

5.250% Notes due 2050

 

Issuer:

 

FedEx Corporation

 

 

 

Guarantors:

 

Federal Express Corporation

 

 

FedEx Ground Package System, Inc.

 

 

FedEx Freight Corporation

 

 

FedEx Freight, Inc.

 

 

FedEx Corporate Services, Inc.

 

 

FedEx Office and Print Services, Inc.

 

 

Federal Express Europe, Inc.

 

 

Federal Express Holdings S.A., LLC

 

 

Federal Express International, Inc.

 

 

 

Title of Securities:

 

$1,250,000,000 5.250% Notes due 2050

 

 

 

Principal Amount:

 

$1,250,000,000

 


 

Expected Ratings (Moody’s / S&P)*:

 

Baa2 / BBB

 

 

 

Trade Date:

 

April 3, 2020

 

 

 

Settlement Date (T+2):

 

April 7, 2020

 

 

 

Stated Maturity Date:

 

May 15, 2050

 

 

 

Interest Payment Dates:

 

Semi-annually on each May 15 and November 15, commencing November 15, 2020

 

 

 

Optional Redemption Provisions:

 

 

 

 

 

Make-whole Call:

 

Prior to November 15, 2049, make-whole call at T+50 basis points

 

 

 

Par Call:

 

On or after November 15, 2049

 

 

 

Benchmark Treasury:

 

UST 2.375% due November 15, 2049

 

 

 

Benchmark Treasury Price / Yield:

 

128-26+ / 1.213%

 

 

 

Spread to Benchmark Treasury:

 

+410 basis points

 

 

 

Reoffer Yield:

 

5.313%

 

 

 

Coupon:

 

5.250% per annum

 

 

 

Price to Public:

 

99.050% of Principal Amount

 

 

 

CUSIP / ISIN:

 

31428X CA2 / US31428XCA28

 

 

 

Joint Book-Running Managers:

 

BofA Securities, Inc.

 

 

Goldman Sachs & Co. LLC

 

 

J.P. Morgan Securities LLC

 

 

Wells Fargo Securities, LLC

 

 

Citigroup Global Markets Inc.

 

 

Morgan Stanley & Co. LLC

 

 

Scotia Capital (USA) Inc.

 

 

 

Co-Managers:

 

BNP Paribas Securities Corp.

 

 

Deutsche Bank Securities Inc.

 

 

HSBC Securities (USA) Inc.

 

 

ING Financial Markets LLC

 

 

Mizuho Securities USA LLC

 

 

Regions Securities LLC

 

 

SunTrust Robinson Humphrey, Inc.

 

 

FTN Financial Securities Corp.

 

 

KBC Securities USA LLC

 

 

MUFG Securities Americas, Inc.

 

 

PNC Capital Markets LLC

 

 

Seibert Williams & Shank & Co., LLC

 

 

Standard Chartered Bank

 

 

Sumitomo Mitsui Banking Corporation

 

 

U.S. Bancorp Investments, Inc.

 


*  Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.

 


 


 

No PRIIPs KID:  No PRIIPs key information document (KID) has been prepared as the notes are not available to retail investors in the EEA.

 

This final term sheet supplements, and should be read in conjunction with, FedEx Corporation’s Preliminary Prospectus Supplement dated April 3, 2020 and the accompanying Base Prospectus dated July 30, 2018 and the documents incorporated by reference therein.

 

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 aforementioned Preliminary Prospectus Supplement and Base Prospectus 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 this offering will arrange to send you these documents if you request it by contacting (i) BofA Securities, Inc. toll-free at 1-800-294-1322, (ii) Goldman Sachs & Co. LLC toll-free at 1-866-471-2526, (iii) J.P. Morgan Securities LLC collect at 1-212-834-4533, or (iv) Wells Fargo Securities, LLC toll-free at 1-800-645-3751.

 

Any disclaimer or other notice that may appear below is not applicable to this communication and should be disregarded.  Such disclaimer or notice was automatically generated as a result of this communication being sent by Bloomberg or another email system.

 



Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘FWP’ Filing    Date    Other Filings
5/15/30
2/15/30
5/15/25
4/15/25
3/31/25
11/15/20
4/7/20
Filed on:4/3/20424B3
7/30/18S-3ASR
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