Filed Pursuant to Rule 433

Registration Statement No. 333-223400

Final Term Sheet dated July 11, 2019 supplementing

the Preliminary Prospectus Supplement dated July 11, 2019

Final Term Sheet

ArcelorMittal

$500,000,000 4.250% Notes due 2029

This final term sheet dated July 11, 2019 relates only to the securities described below and should be read together with the preliminary prospectus supplement dated July 11, 2019 and the accompanying prospectus (including the documents incorporated by reference in the Preliminary Prospectus and the accompanying prospectus) (together, the “Preliminary Prospectus”) before making a decision in connection with an investment in the securities. Terms used but not defined herein have the meaning ascribed to them in the Preliminary Prospectus.

 

Issuer:		ArcelorMittal
Security Description:		4.250% Notes due 2029
Size:		$500,000,000
Price:		99.004% of face amount
Maturity Date:		July 16, 2029, unless earlier redeemed
Coupon:		4.250% per annum
Yield to Maturity:		4.374%
Benchmark Treasury:		UST 2.375% due May 15, 2029
Benchmark Treasury Price and Yield:		102-07; 2.124%
Spread to Benchmark Treasury:		T+225 bps
Interest Payment Dates:		January 16 and July 16, commencing January 16, 2020
Total Net Proceeds Before Expenses:		The net proceeds of the Notes Offering, after deduction of the underwriting discount of approximately $2,150,000, amount to approximately $492,870,000.
Use of Proceeds:		ArcelorMittal intends to use the net proceeds of this offering towards the reduction of the $7 billion term facilities agreement to the extent it is drawn, and for general corporate purposes including future repayment of existing indebtedness
Change of Control:		101%
Make-whole Spread:		T+35 bps
Trade Date:		July 11, 2019
Settlement Date:		T+3; July 16, 2019
CUSIP:		03938L BC7
ISIN:		US03938LBC72
Denominations/Multiple:		$2,000 x $1,000
Expected Security Ratings*:		Baa3/BBB-/BBB- (Moody’s/S&P/Fitch)
Underwriters:		Joint Book-Running Managers BofA Securities, Inc. Citigroup Global Markets Inc. Goldman Sachs & Co. LLC J.P. Morgan Securities LLC RBC Capital Markets, LLC BNP Paribas Securities Corp. Credit Agricole Securities (USA) Inc. ING Financial Markets LLC Santander Investment Securities Inc. SMBC Nikko Securities America, Inc. SG Americas Securities, LLC

 

*	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.

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 issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by contacting BofA Securities, Inc. by emailing dg.prospectus_requests@baml.com, Citigroup Global Markets Inc. by calling toll-free at (800) 831-9146 or emailing prospectus@citi.com, Goldman Sachs & Co. LLC by calling toll-free at (866) 471-2526 or by emailing prospectus-ny@ny.email.gs.com, J.P. Morgan Securities LLC by calling collect at (212) 834-4533 and RBC Capital Markets, LLC by calling toll-free at (866) 375-6829.

MiFID II professionals/ECPs-only/No PRIIPs KID—Manufacturer Target Market (MiFID II Product Governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs Key Information Document (KID) has been prepared as not available to retail in EEA.

The Underwriters expect to deliver the Notes on or about July 16, 2019, which will be three business days (as such term is used for purposes of Rule 15c6-1 of the U.S. Exchange Act) following the date of pricing of the notes (this settlement cycle is being referred to as “T+3”). Under Rule 15c6-1 of the U.S. Exchange Act, trades in the secondary market generally are required to settle in two business days unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the notes on the date hereof will be required to specify an alternative settlement cycle at the time of any such trade to prevent a failed settlement. Purchasers of the notes who wish to make such trades should consult their own advisors.

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.

 

2