Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp)
September 06 2022 - 5:29PM
Edgar (US Regulatory)
Filed Pursuant to Rule 433
Issuer Free Writing Prospectus dated September 6, 2022
Relating to Preliminary Prospectus Supplement dated September 6, 2022
Registration Statement No. 333-258108
Final Term Sheet
Dated
September 6, 2022
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|
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| Issuer: |
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Lowe’s Companies, Inc. (the “Company”) |
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| Trade Date: |
|
September 6, 2022 |
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|
| Settlement Date (T+2): |
|
September 8, 2022 |
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| Ratings* (Moody’s/S&P): |
|
Baa1 / BBB+ |
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| 4.400% Notes due 2025 |
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|
|
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| Aggregate Principal Amount Offered: |
|
$1,000,000,000 |
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| Maturity Date: |
|
September 8, 2025 |
|
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| Coupon (Interest Rate): |
|
4.400% per annum |
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| Interest Payment Dates: |
|
March 8 and September 8 of each year, beginning March 8, 2023 |
|
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| Benchmark Treasury: |
|
UST 3.125% due August 15, 2025 |
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|
| Benchmark Treasury Price / Yield: |
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98-25+ / 3.559% |
|
|
| Spread to Benchmark Treasury: |
|
0.850% (85 basis points) |
|
|
| Yield to Maturity: |
|
4.409% |
|
|
| Public Offering Price: |
|
99.975% of principal amount, plus accrued interest from the expected settlement date |
|
|
| Net Proceeds (before expenses): |
|
$997,250,000 |
|
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| Make-Whole Call: |
|
Prior to the maturity date at T + 15 basis points |
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| Par Call: |
|
None |
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| CUSIP / ISIN: |
|
548661 EK9 / US548661EK91 |
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| 5.000% Notes due 2033 |
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|
|
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| Aggregate Principal Amount Offered: |
|
$1,250,000,000 |
|
|
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| Maturity Date: |
|
April 15, 2033 |
|
|
| Coupon (Interest Rate): |
|
5.000% per annum |
|
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| Interest Payment Dates: |
|
April 15 and October 15 of each year, beginning April 15, 2023 (long first coupon) |
|
|
| Benchmark Treasury: |
|
UST 2.750% due August 15, 2032 |
|
|
| Benchmark Treasury Price / Yield: |
|
95-04 / 3.330% |
|
|
| Spread to Benchmark Treasury: |
|
1.700% (170 basis points) |
|
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| Yield to Maturity: |
|
5.030% |
|
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| Public Offering Price: |
|
99.748% of principal amount, plus accrued interest from the expected settlement date |
|
|
| Net Proceeds (before expenses): |
|
$1,241,225,000 |
|
|
| Make-Whole Call: |
|
Prior to the date that is three months prior to the maturity date at T + 30 basis points |
|
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| Par Call: |
|
On or after three months prior to the maturity date |
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| CUSIP / ISIN: |
|
548661 EL7 / US548661EL74 |
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| 5.625% Notes due 2053 |
|
|
|
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| Aggregate Principal Amount Offered: |
|
$1,500,000,000 |
|
|
| Maturity Date: |
|
April 15, 2053 |
|
|
| Coupon (Interest Rate): |
|
5.625% per annum |
|
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| Interest Payment Dates: |
|
April 15 and October 15 of each year, beginning April 15, 2023 (long first coupon) |
|
|
| Benchmark Treasury: |
|
UST 2.875% due May 15, 2052 |
|
|
| Benchmark Treasury Price / Yield: |
|
88-17 / 3.499% |
|
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| Spread to Benchmark Treasury: |
|
2.150% (215 basis points) |
|
|
| Yield to Maturity: |
|
5.649% |
|
|
| Public Offering Price: |
|
99.643% of principal amount, plus accrued interest from the expected settlement date |
|
|
|
|
|
| Net Proceeds (before expenses): |
|
$1,481,520,000 |
|
|
| Make-Whole Call: |
|
Prior to the date that is six months prior to the maturity date at T + 35 basis points |
|
|
| Par Call: |
|
On or after six months prior to the maturity date |
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| CUSIP / ISIN: |
|
548661 EM5 / US548661EM57 |
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| 5.800% Notes due 2062 |
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|
|
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| Aggregate Principal Amount Offered: |
|
$1,000,000,000 |
|
|
| Maturity Date: |
|
September 15, 2062 |
|
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| Coupon (Interest Rate): |
|
5.800% per annum |
|
|
| Interest Payment Dates: |
|
March 15 and September 15 of each year, beginning March 15, 2023 |
|
|
| Benchmark Treasury: |
|
UST 2.875% due May 15, 2052 |
|
|
| Benchmark Treasury Price / Yield: |
|
88-17 / 3.499% |
|
|
| Spread to Benchmark Treasury: |
|
2.350% (235 basis points) |
|
|
| Yield to Maturity: |
|
5.849% |
|
|
| Public Offering Price: |
|
99.244% of principal amount, plus accrued interest from the expected settlement date |
|
|
| Net Proceeds (before expenses): |
|
$983,690,000 |
|
|
| Make-Whole Call: |
|
Prior to the date that is six months prior to the maturity date at T + 40 basis points |
|
|
| Par Call: |
|
On or after six months prior to the maturity date |
|
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| CUSIP / ISIN: |
|
548661 EN3 / US548661EN31 |
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| Joint Book Running Managers: |
|
Barclays Capital Inc. |
|
|
Goldman Sachs & Co. LLC |
|
|
U.S. Bancorp Investments, Inc. |
|
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Wells Fargo Securities, LLC |
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| Senior Co-Managers: |
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BofA Securities, Inc. |
|
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Citigroup Global Markets Inc. |
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J.P. Morgan Securities LLC |
|
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Mizuho Securities USA LLC |
|
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RBC Capital Markets, LLC |
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| Co-Managers: |
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MUFG Securities Americas Inc. |
|
|
Truist Securities, Inc. |
|
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BMO Capital Markets Corp. |
|
|
Loop Capital Markets LLC |
|
|
Siebert Williams Shank & Co., LLC |
| * |
Note: A security rating is not a recommendation to buy, sell or hold securities and may be subject to revision
or withdrawn 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 calling Barclays Capital Inc. at (888) 603-5847, Goldman Sachs & Co. LLC at (866) 471-2526, U.S. Bancorp Investments, Inc. at (877) 558-2607 or Wells Fargo Securities, LLC at (800) 645-3751.
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