FWP 1 d883994dfwp.htm FWP FWP

Filed Pursuant to Rule 433

Registration No. 333-237799

April 23, 2020

Supplementing the Preliminary

Prospectus Supplement dated April 23, 2020

(To Prospectus dated April 23, 2020)

Marathon Petroleum Corporation

Final Pricing Terms

April 23, 2020

 

Issuer:    Marathon Petroleum Corporation
Net proceeds (before expenses) to the Issuer:    $2,483,700,000
Settlement:    T+2; April 27, 2020
Anticipated Ratings*:    Baa2 (Negative) / BBB (Negative) / BBB (Negative)
Joint Book-Running Managers:   

Citigroup Global Markets Inc.

J.P. Morgan Securities LLC

Mizuho Securities USA LLC

Barclays Capital Inc.

RBC Capital Markets, LLC

TD Securities (USA) LLC

BNP Paribas Securities Corp.

MUFG Securities Americas Inc.

PNC Capital Markets LLC

SMBC Nikko Securities America, Inc.

U.S. Bancorp Investments, Inc.

Co-Managers:   

Fifth Third Securities, Inc.

Huntington Securities, Inc.

   4.500% Senior Notes due 2023
Size:    $1,250,000,000
Maturity:    May 1, 2023
Coupon:    4.500%
Benchmark Treasury:    0.250% due April 15, 2023
Benchmark Treasury Yield:    0.271%
Spread to Benchmark Treasury:    +425 bps
Yield to Maturity:    4.521%
Price to Public:    99.941%
Interest Payment Dates:        May 1 and November 1, commencing November 1, 2020, to holders of record at the close of business on the preceding April 15 and October 15, respectively


Make-Whole Call:    T+50 bps (at any time before April 1, 2023)
Par Call:    At any time on or after April 1, 2023
CUSIP/ISIN:    56585A BG6 / US56585ABG67
Denominations:    $2,000 and integral multiples of $1,000 in excess thereof
   4.700% Senior Notes due 2025
Size:    $1,250,000,000
Maturity:    May 1, 2025
Coupon:    4.700%
Benchmark Treasury:    0.500% due March 31, 2025
Benchmark Treasury Yield:    0.369%
Spread to Benchmark Treasury:    +437.5 bps
Yield to Maturity:    4.744%
Price to Public:    99.805%
Interest Payment Dates:    May 1 and November 1, commencing November 1, 2020, to holders of record at the close of business on the preceding April 15 and October 15, respectively
Make-Whole Call:    T+50 bps (at any time before April 1, 2025)
Par Call:    At any time on or after April 1, 2025
CUSIP/ISIN:    56585A BH4 / US56585ABH41
Denominations:    $2,000 and integral multiples of $1,000 in excess thereof

*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) and a prospectus supplement with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement, the prospectus supplement 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 Citigroup Global Markets Inc. toll free at 1-800-831-9146, J.P. Morgan Securities LLC collect at 1-212-834-4533 or Mizuho Securities USA LLC toll free at 1-866-271-7403.

Any legends, disclaimers or other notices that may appear below are not applicable to this communication and should be disregarded. Such legends, disclaimers or other notices have been automatically generated as a result of this communication having been sent via Bloomberg or another system.