Issuer Free Writing Prospectus, dated November 3, 2015
Filed Pursuant to Rule 433 under the Securities Act of 1933, as amended
Supplementing the Preliminary Prospectus Supplement, dated November 3, 2015
Registration No. 333-207757
McCormick & Company, Incorporated
Final Term Sheet for 3.250% Notes due 2025
| Issuer: |
McCormick & Company, Incorporated | |
| Expected Ratings (Moody’s / S&P)*: |
A2 / A- | |
| Principal Amount: |
$250,000,000 | |
| Type: |
SEC Registered, Registration No. 333-207757 | |
| Trade Date: |
November 3, 2015 | |
| Settlement Date: |
November 6, 2015 (T+3) | |
| Interest Payment Dates: |
Semi-annually on May 15 and November 15, commencing on May 15, 2016 and ending on the Maturity Date | |
| Maturity Date: |
November 15, 2025 | |
| Benchmark Treasury: |
2.000% due August 15, 2025 | |
| Benchmark Treasury Price / Yield: |
98-04+ / 2.212% | |
| Spread to Benchmark Treasury: |
+ 112.5 basis points | |
| Yield to Maturity: |
3.337% | |
| Coupon (Interest Rate): |
3.250% | |
| Price to Public: |
99.263% | |
| Optional Redemption: |
Prior to August 15, 2025 (three months prior to their maturity date), the notes will be redeemable at the Issuer’s option, at any time in whole or from time to time in part, at a redemption price equal to the greater of: (1) 100% of the principal amount of the notes to be redeemed and (2) the sum of the present values of the remaining scheduled payments of principal and interest thereon to the Par Call Date, as defined below, (exclusive of interest accrued to the date of redemption) discounted to the redemption date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 20 basis points, plus in either case accrued and unpaid interest thereon to the date of redemption.
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| On or after August 15, 2025 (three months prior to their maturity date) (the “Par Call Date”), the Issuer may redeem the notes, in whole or in part, at any time and from time to time, at a redemption price equal to 100% of the principal amount of the notes being redeemed plus accrued and unpaid interest to the redemption date. | ||
| CUSIP / ISIN: |
579780 AK3 / US579780AK39 | |
| Joint Book-Running Managers: |
Wells Fargo Securities, LLC Merrill Lynch, Pierce, Fenner & Smith Incorporated SunTrust Robinson Humphrey, Inc. BNP Paribas Securities Corp. U.S. Bancorp Investments, Inc. | |
| Co-Managers: |
J.P. Morgan 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, Wells Fargo Securities, LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and SunTrust Robinson Humphrey, Inc. can arrange to send you the prospectus if you request it by calling Wells Fargo Securities, LLC toll free at 1-800-645-3751, Merrill Lynch, Pierce, Fenner & Smith Incorporated toll free at 1-800-294-1322, or e-mailing dg.prospectus_requests@baml.com, or SunTrust Robinson Humphrey, Inc. toll-free at 1-800-685-4786.
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