FWP 1 d163845dfwp.htm FWP FWP

Filed Pursuant to Rule 433

Issuer Free Writing Prospectus dated March 29, 2021

Relating to Preliminary Prospectus Supplement dated March 29, 2021

Registration Statement No. 333-226983

Final Term Sheet

Dated March 29, 2021

 

Issuer:    Lowe’s Companies, Inc. (the “Company”)
Trade Date:    March 29, 2021
Settlement Date (T+2):    March 31, 2021
Ratings* (Moody’s/S&P):    Baa1 / BBB+
2.625% Notes due 2031   
Aggregate Principal Amount   
Offered:    $1,500,000,000
Maturity Date:    April 1, 2031
Coupon (Interest Rate):    2.625% per annum
Interest Payment Dates:    April 1 and October 1 of each year, beginning October 1, 2021
Benchmark Treasury:    UST 1.125% due February 15, 2031
Benchmark Treasury   
Price / Yield:    94-18 / 1.726%
Spread to Benchmark   
Treasury:    0.900% (90 basis points)
Yield to Maturity:    2.626%
Public Offering Price:    99.991% of principal amount, plus accrued interest from the expected settlement date
Net Proceeds (before expenses):    $1,493,115,000
Make-Whole Call:    Prior to the date that is three months prior to the maturity date at T + 15 basis points
Par Call:    On or after three months prior to the maturity date
CUSIP / ISIN:    548661 EA1 / US548661EA10


3.500% Notes due 2051   
Aggregate Principal Amount   
Offered:    $500,000,000
Maturity Date:    April 1, 2051
Coupon (Interest Rate):    3.500% per annum
Interest Payment Dates:    April 1 and October 1 of each year, beginning October 1, 2021
Benchmark Treasury:    UST 1.625% due November 15, 2050
Benchmark Treasury   
Price / Yield:    82-27 / 2.442%
Spread to Benchmark   
Treasury:    1.070% (107 basis points)
Yield to Maturity:    3.512%
Public Offering Price:    99.778% of principal amount, plus accrued interest from the expected settlement date
Net Proceeds (before expenses):    $494,515,000
Make-Whole Call:    Prior to the date that is six months prior to the maturity date at T + 20 basis points
Par Call:    On or after six months prior to the maturity date
CUSIP / ISIN:    548661 EB9 / US548661EB92
Joint Book Running Managers:    BofA Securities, Inc.
   Citigroup Global Markets Inc.
   J.P. Morgan Securities LLC
   Mizuho Securities USA LLC
Senior Co-Managers:    Barclays Capital Inc.
   Goldman Sachs & Co. LLC
   U.S. Bancorp Investments, Inc.
   Wells Fargo Securities, LLC
   RBC Capital Markets, LLC
Co-Managers:    MUFG Securities Americas Inc.
   Truist Securities, Inc.
   BMO Capital Markets Corp.
   Loop Capital Markets LLC
   Samuel A. Ramirez & Company, Inc.

 

*

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.

 

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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 BofA Securities, Inc. toll-free at (800) 294-1322, Citigroup Global Markets Inc. toll-free at (800) 831-9146, J.P. Morgan Securities LLC collect at (212) 834-4533 or Mizuho Securities USA LLC at (866) 271-7403.

 

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