Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp)
March 30 2020 - 5:29PM
Edgar (US Regulatory)
ISSUER FREE WRITING PROSPECTUS
(RELATING TO THE PRELIMINARY PROSPECTUS
SUPPLEMENT DATED MARCH 30, 2020 AND
THE PROSPECTUS DATED SEPTEMBER 7, 2018)
FILED PURSUANT TO RULE 433
REGISTRATION NO. 333-227244
MARCH 30, 2020
AFLAC INCORPORATED
$1,000,000,000 3.600% SENIOR NOTES DUE 2030
FINAL TERM SHEET
Dated
March 30, 2020
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Issuer:
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Aflac Incorporated
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Securities:
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3.600% Senior Notes due 2030
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Ratings (Moody’s / S&P)*:
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A3 (stable) / A- (positive)
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Security Type:
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Senior Unsecured Fixed Rate Notes
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Trade Date:
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March 30, 2020
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Settlement Date (T+2):
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April 1, 2020
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Denominations:
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$2,000 and integral multiples of $1,000 in excess thereof
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Joint Book-Running Managers:
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Goldman Sachs & Co. LLC; Mizuho Securities USA LLC; Morgan Stanley & Co. LLC; SMBC Nikko Securities America, Inc.; Wells Fargo Securities, LLC; BofA Securities, Inc.; MUFG Securities Americas Inc.; PNC Capital
Markets LLC
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Co-Managers:
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Academy Securities, Inc.; BNY Mellon Capital Markets, LLC; Credit Suisse Securities (USA) LLC; Drexel Hamilton, LLC; J.P. Morgan Securities LLC
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Principal Amount:
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$1,000,000,000
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Underwriting Discount:
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0.650%
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Maturity Date:
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April 1, 2030
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Coupon:
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3.600%
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Benchmark Treasury:
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1.500% due February 15, 2030
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Spread to Benchmark Treasury:
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+295 basis points
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Benchmark Treasury Price / Yield:
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107-26 / 0.681%
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Re-offer Yield:
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3.631%
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Public Offering Price:
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99.742% of principal amount
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Proceeds, Before Expenses:
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$990,920,000
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Interest Payment Dates:
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Semi-annually in arrears on April 1 and October 1, commencing on October 1, 2020
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Record Dates:
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March 15 and September 15 of each year
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Make-Whole Call:
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+45 basis points (prior to January 1, 2030)
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Par Call:
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On or after January 1, 2030
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CUSIP/ISIN:
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001055 BJ0 / US001055BJ00
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*
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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.
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The issuer has filed a registration statement (including a prospectus and related prospectus
supplement) with the U.S. Securities and Exchange Commission (SEC) for this offering. Before you invest, you should read the prospectus supplement and prospectus for this offering 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 EDGAR at the SEC web site at www.sec.gov. Alternatively, you may obtain a copy of the prospectus by
calling Goldman Sachs & Co. LLC toll-free at 1-866-471-2526, Mizuho Securities USA LLC toll-free at 1-866-271-7403, Morgan Stanley & Co. LLC toll-free at 1-212-761-6691, SMBC Nikko Securities America, Inc. toll-free at 1-888-868-6856
or Wells Fargo Securities, LLC toll-free at 1-800-645-3751.
No PRIIPs KID - No PRIIPs key information document (KID) has been prepared as not available to retail in EEA or in the UK.
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.
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