Filed Pursuant to Rule 433
Registration No. 333-233483
July 30, 2020
Truist Financial Corporation
Pricing Term Sheet
July 30, 2020
Medium-Term Notes, Series G (Senior)
$750,000,000
1.125% Senior Notes due August 3, 2027
Issuer ...................................................................... |
Truist Financial Corporation |
Security .................................................................. |
1.125% Senior Notes due August 3, 2027 |
Expected Ratings* ................................................. |
A3/Stable (Moody's) / A-/Stable (S&P) / A/Negative (Fitch) |
|
/ AH/Stable (DBRS) |
Currency ................................................................. |
USD |
Size ......................................................................... |
$750,000,000 |
Security Type ......................................................... |
SEC Registered Medium-Term Notes, Series G (Senior) |
Trade Date .............................................................. |
July 30, 2020 |
Settlement Date ...................................................... |
August 3, 2020 (T+2) |
Maturity .................................................................. |
August 3, 2027 |
Coupon ................................................................... |
1.125% |
Payment Frequency ................................................ |
Semi-Annually |
Interest Payment Dates ........................................... |
February 3 and August 3 of each year, commencing February |
|
3, 2021 |
Day Count Convention ........................................... |
30/360 |
Redemption Date .................................................... |
June 3, 2027 (2 months prior to Maturity) |
Redemption Terms ................................................ |
Redeemable in whole or in part on or after the Redemption |
|
Date at 100% of the principal amount of the notes (par), plus |
|
accrued and unpaid interest thereon to, but excluding, the |
|
date of redemption. The issuer shall provide 10 to 60 |
|
calendar days' notice of redemption to the registered holder |
|
of the notes. |
Benchmark Treasury ............................................... |
0.500% US Treasury due June 30, 2027 |
Benchmark Treasury Spot and Yield ...................... |
100-22; 0.399% |
Spread to Benchmark Treasury ............................... |
+75 bps |
Yield to Maturity |
1.149% |
Price to Public ......................................................... |
99.839% of face amount |
Net Proceeds (Before Expenses) to Issuer ............. |
$747,742,500 (99.699%) |
Use of Proceeds ...................................................... |
General corporate purposes, which may include the |
|
acquisition of other companies, repurchasing outstanding |
|
shares of the issuer's common stock, repayment of maturing |
|
obligations and refinancing of outstanding indebtedness and |
|
extending credit to, or funding investments in, the issuer's |
|
subsidiaries. |
Denominations ....................................................... |
$2,000 x $1,000 |
CUSIP / ISIN ......................................................... |
89788MAC6 / US89788MAC64 |
Joint Book-Running Managers .............................. |
SunTrust Robinson Humphrey, Inc. |
|
Deutsche Bank Securities Inc. |
|
RBC Capital Markets, LLC |
Co-Managers ......................................................... |
Academy Securities, Inc. |
|
Samuel A. Ramirez & Company, Inc. |
*Note: A securities rating is not a recommendation to buy, sell or hold securities and should be evaluated independently of any other rating. The rating may be subject to revision or withdrawal at any time by the assigning rating organization.
Concurrent Preferred Offering: Concurrently with this offering, on July 30, 2020, we commenced an offering of depositary shares, each representing a 1/1,000th ownership interest in a share of the Company's Series R Non-Cumulative Perpetual Preferred Stock, $5.00 par value per share, with a liquidation preference of $25,000 per share (the "Preferred Stock Offering") pursuant to a preliminary prospectus supplement dated July 30, 2020. The completion of this offering is not conditioned on the completion of the Preferred Stock Offering.
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 SunTrust Robinson Humphrey, Inc. toll-free at (800) 685-4786, Deutsche Bank Securities Inc. toll-free at (800) 503-4611 and RBC Capital Markets, LLC toll-free at (866) 375-6829.
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