0001104659-19-041255.txt : 20190722 0001104659-19-041255.hdr.sgml : 20190722 20190722150800 ACCESSION NUMBER: 0001104659-19-041255 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20190722 DATE AS OF CHANGE: 20190722 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: FEDEX CORP CENTRAL INDEX KEY: 0001048911 STANDARD INDUSTRIAL CLASSIFICATION: AIR COURIER SERVICES [4513] IRS NUMBER: 621721435 STATE OF INCORPORATION: DE FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-226426 FILM NUMBER: 19965505 BUSINESS ADDRESS: STREET 1: 942 SOUTH SHADY GROVE ROAD CITY: MEMPHIS STATE: TN ZIP: 38120- BUSINESS PHONE: 9018187500 MAIL ADDRESS: STREET 1: 942 SOUTH SHADY GROVE ROAD CITY: MEMPHIS STATE: TN ZIP: 38120- FORMER COMPANY: FORMER CONFORMED NAME: FDX CORP DATE OF NAME CHANGE: 19971103 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: FEDEX CORP CENTRAL INDEX KEY: 0001048911 STANDARD INDUSTRIAL CLASSIFICATION: AIR COURIER SERVICES [4513] IRS NUMBER: 621721435 STATE OF INCORPORATION: DE FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: 942 SOUTH SHADY GROVE ROAD CITY: MEMPHIS STATE: TN ZIP: 38120- BUSINESS PHONE: 9018187500 MAIL ADDRESS: STREET 1: 942 SOUTH SHADY GROVE ROAD CITY: MEMPHIS STATE: TN ZIP: 38120- FORMER COMPANY: FORMER CONFORMED NAME: FDX CORP DATE OF NAME CHANGE: 19971103 FWP 1 a19-12945_13fwp.htm FWP

 

Free Writing Prospectus Filed Pursuant to Rule 433

Registration Statement No. 333-226426

July 22, 2019

 

FedEx Corporation

 

Final Term Sheet

 

€500,000,000 0.450% Notes due 2025
€500,000,000 1.300% Notes due 2031

 

The information in this final term sheet relates to FedEx Corporation’s offering of notes in the series listed above and should be read together with the preliminary prospectus supplement dated July 22, 2019 relating to such offering (the “Preliminary Prospectus Supplement”) and the accompanying base prospectus dated July 30, 2018 (the “Base Prospectus”), including the documents incorporated by reference therein, each filed pursuant to Rule 424(b) under the Securities Act of 1933, as amended, Registration Statement No. 333-226426.

 

0.450% Notes due 2025 (the “2025 Notes”)

 

Issuer:

 

FedEx Corporation

 

 

 

Guarantors:

 

Federal Express Corporation

 

 

FedEx Ground Package System, Inc.

 

 

FedEx Freight Corporation

 

 

FedEx Freight, Inc.

 

 

FedEx Corporate Services, Inc.

 

 

FedEx Office and Print Services, Inc.

 

 

Federal Express Europe, Inc.

 

 

Federal Express Holdings S.A., LLC

 

 

Federal Express International, Inc.

 

 

 

Title of Securities:

 

€500,000,000 0.450% Notes due 2025

 

 

 

Principal Amount:

 

€500,000,000

 

 

 

Expected Ratings (Moody’s / S&P)*:

 

Baa2 / BBB

 

 

 

Trade Date:

 

July 22, 2019

 

 

 

Settlement Date (T+10):

 

August 5, 2019

 

 

 

Maturity Date:

 

August 5, 2025

 

 

 

Interest Payment Dates:

 

Annually on each August 5, commencing August 5, 2020

 

 

 

Day Count Convention:

 

ACTUAL/ACTUAL (ICMA)

 

 

 

Optional Redemption Provisions:

 

 

 

 

 

Make-whole Call:

 

Prior to May 5, 2025, make-whole call at DBR+20 basis points

 

 

 

Par Call:

 

On or after May 5, 2025

 

 

 

Redemption for Tax Reasons:

 

If certain events occur involving changes in United States taxation, we may redeem the 2025 Notes in whole at 100% of principal amount of the 2025 Notes plus accrued and unpaid interest to, but not including, the date fixed for redemption.

 

 

 

Benchmark Security:

 

DBR 0.500% due February 15, 2025

 

 

 

Benchmark Security Price / Yield:

 

106.71 / -0.679%

 

 

 

Spread to Benchmark Security:

 

+115.0 basis points

 

 

Mid-Swap Yield:

 

-0.229%

 

 

 

Spread to Mid-Swap Yield:

 

+70 basis points

 

 

 

Reoffer Yield:

 

0.471%

 

 

 

Coupon:

 

0.450% per annum

 

 

 

Price to Public:

 

99.876% of Principal Amount

 

 

 

Minimum Denomination:

 

€100,000 and integral multiples of €1,000 in excess thereof

 

 

 

CUSIP:

 

31428XBW5

 

 

 

Common Code / ISIN:

 

203462646 / XS2034626460

 

 

 

Listing:

 

FedEx Corporation intends to apply to list the 2025 Notes on the New York Stock Exchange.

 

 

 

Form:

 

Clearstream/Euroclear, Book-Entry

 

 

 

Law:

 

State of New York

 

 

 

Joint Book-Running Managers:

 

BNP Paribas

 

 

Deutsche Bank AG, London Branch

 

 

J.P. Morgan Securities plc

 

 

Wells Fargo Securities International Limited

 

 

 

Co-Managers:

 

Citigroup Global Markets Limited

 

 

Goldman Sachs & Co. LLC

 

 

HSBC Bank plc

 

 

ING Bank N.V., Belgian Branch

 

 

Merrill Lynch International

 

 

Mizuho International plc

 

 

Morgan Stanley & Co. International plc

 

 

Regions Securities LLC

 

 

Scotiabank Europe plc

 

 

SunTrust Robinson Humphrey, Inc.

 

 

 

1.300% Notes due 2031 (the “2031 Notes”)

 

 

 

Issuer:

 

FedEx Corporation

 

 

 

Guarantors:

 

Federal Express Corporation

 

 

FedEx Ground Package System, Inc.

 

 

FedEx Freight Corporation

 

 

FedEx Freight, Inc.

 

 

FedEx Corporate Services, Inc.

 

 

FedEx Office and Print Services, Inc.

 

 

Federal Express Europe, Inc.

 

 

Federal Express Holdings S.A., LLC

 

 

Federal Express International, Inc.

 

 

 

Title of Securities:

 

€500,000,000 1.300% Notes due 2031

 

 

 

Principal Amount:

 

€500,000,000

 

 

 

Expected Ratings (Moody’s / S&P)*:

 

Baa2 / BBB

 

 

Trade Date:

 

July 22, 2019

 

 

 

Settlement Date (T+10):

 

August 5, 2019

 

 

 

Maturity Date:

 

August 5, 2031

 

 

 

Interest Payment Dates:

 

Annually on each August 5, commencing August 5, 2020

 

 

 

Day Count Convention:

 

ACTUAL/ACTUAL (ICMA)

 

 

 

Optional Redemption Provisions:

 

 

 

 

 

Make-whole Call:

 

Prior to May 5, 2031, make-whole call at DBR+25 basis points

 

 

 

Par Call:

 

On or after May 5, 2031

 

 

 

Redemption for Tax Reasons:

 

If certain events occur involving changes in United States taxation, we may redeem the 2031 Notes in whole at 100% of principal amount of the 2031 Notes plus accrued and unpaid interest to, but not including, the date fixed for redemption.

 

 

 

Benchmark Security:

 

DBR 0.250% due February 15, 2029

 

 

 

Benchmark Security Price / Yield:

 

106.22 / -0.387%

 

 

 

Spread to Benchmark Security:

 

+173.2 basis points

 

 

 

Mid-Swap Yield:

 

0.245%

 

 

 

Spread to Mid-Swap Yield:

 

+110 basis points

 

 

 

Reoffer Yield:

 

1.345%

 

 

 

Coupon:

 

1.300% per annum

 

 

 

Price to Public:

 

99.504% of Principal Amount

 

 

 

Minimum Denomination:

 

€100,000 and integral multiples of €1,000 in excess thereof

 

 

 

CUSIP:

 

31428XBX3

 

 

 

Common Code / ISIN:

 

203462913 / XS2034629134

 

 

 

Listing:

 

FedEx Corporation intends to apply to list the 2031 Notes on the New York Stock Exchange.

 

 

 

Form:

 

Clearstream/Euroclear, Book-Entry

 

 

 

Law:

 

State of New York

 

 

 

Joint Book-Running Managers:

 

BNP Paribas

 

 

Deutsche Bank AG, London Branch

 

 

J.P. Morgan Securities plc

 

 

Wells Fargo Securities International Limited

 

 

 

Co-Managers:

 

Citigroup Global Markets Limited

 

 

Goldman Sachs & Co. LLC

 

 

HSBC Bank plc

 

 

ING Bank N.V., Belgian Branch

 

 

Merrill Lynch International

 

 

Mizuho International plc

 

 

 

 

Morgan Stanley & Co. International plc

 

 

Regions Securities LLC

 

 

Scotiabank Europe plc

 

 

SunTrust Robinson Humphrey, Inc.

 

*  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.

 

 

MiFID II professionals/ECPs-only/No PRIIPs KID:  Manufacturer target market (MIFID II product governance) is eligible counterparties and professional clients only (all distribution channels).  No PRIIPs key information document (KID) has been prepared as the 2025 Notes and the 2031 Notes are not available to retail investors in the EEA.

 

This final term sheet supplements, and should be read in conjunction with, FedEx Corporation’s Preliminary Prospectus Supplement dated July 22, 2019 and the accompanying Base Prospectus dated July 30, 2018 and the documents incorporated by reference therein.

 

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 aforementioned Preliminary Prospectus Supplement and Base Prospectus 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 this offering will arrange to send you these documents if you request it by contacting (i) BNP Paribas toll-free at 1-800-854-5674, (ii) Deutsche Bank AG, London Branch toll-free at 1-800-503-4611, (iii) J.P. Morgan Securities plc collect at +44-207-134-2468 or (iv) Wells Fargo Securities International Limited toll-free at 1-800-645-3751.

 

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.