424B2 1 a18-5198_1424b2.htm 424B2

 

PROSPECTUS Dated March 16, 2015 and

 

PRICING SUPPLEMENT NO. 4

PROSPECTUS SUPPLEMENT Dated February 17, 2017

 

Dated February 1, 2018

 

 

Registration Statement No. 333-202789

 

 

Filed Pursuant to Rule 424(b)(2)

 

€3,750,000,000

 

FORD MOTOR CREDIT COMPANY LLC

EURO MEDIUM-TERM NOTES
Due Nine Months or More from Date of Issue

 

Floating Rate Notes due 2022

 

Any person making or intending to make an offer of the Euro Medium-Term Notes may only do so in circumstances in which no obligation arises for Ford Motor Credit Company LLC (“Ford Credit”) or any Agent to publish a prospectus pursuant to Article 3 of the Prospectus Directive or supplement a prospectus pursuant to Article 16 of the Prospectus Directive, in each case, in relation to such offer.

 

This document constitutes the Pricing Supplement for the Euro Medium-Term Notes described herein. This document must be read in conjunction with the accompanying Prospectus and Prospectus Supplement. Full information on Ford Credit and the offer of the Notes is only available on the basis of the combination of this Pricing Supplement and the Prospectus and Prospectus Supplement. Copies of the Prospectus and Prospectus Supplement may be obtained at no cost, by writing or telephoning Ford Credit’s principal executive offices at the following address: Ford Motor Credit Company LLC, One American Road, Dearborn, MI 48126, Attn: Corporate Secretary, 1-800-426-2888. Ford Credit’s SEC filings also are available to you at the SEC’s web site at http://www.sec.gov.

 

The Euro Medium-Term Notes offered hereby will be Floating Rate Notes and senior securities as more fully described in the accompanying Prospectus and Prospectus Supplement.

 

1.

Issuer:

 

Ford Motor Credit Company LLC

 

 

 

 

2.

Trade Date:

 

February 1, 2018

 

 

 

 

3.

Issue Date:

 

February 7, 2018 (T+4)

 

 

 

 

4.

Stated Maturity:

 

December 7, 2022

 

 

 

 

5.

Specified Currency:

 

Euro

 

 

 

 

6.

Principal Amount:

 

€750,000,000

 

 

 

 

7.

Price to Public:

 

100.000% plus accrued interest from the Issue Date

 

 

 

 

8.

All-in Price:

 

99.650%

 

 

 

 

9.

Net Proceeds (Before Expenses) to Issuer:

 

€747,375,000

 

 

 

 

10.

Interest Rate Basis:

 

3-Month EURIBOR

 

 

 

 

11.

Index Maturity:

 

3 months

 

 

 

 

12.

Spread:

 

+42 basis points

 

 

 

 

13.

Interest Rate Calculation:

 

EURIBOR determined on Interest Determination Date plus the Spread

 



 

14.

Minimum Interest Rate:

 

0.000%

 

 

 

 

15.

Initial Interest Rate:

 

1-Month EURIBOR as of two TARGET Business Days prior to the Issue Date plus the Spread (for the initial Interest Period)

 

 

 

 

16.

Subsequent Interest Rate:

 

3-Month EURIBOR plus the Spread

 

 

 

 

17.

Interest Reset Dates:

 

Quarterly on the 7th of March, June, September and December of each year, commencing March 7, 2018

 

 

 

 

18.

Interest Determination Dates:

 

Quarterly, two TARGET Business Days prior to each Interest Reset Date

 

 

 

 

19.

Interest Payment Dates:

 

Interest will be paid quarterly on the 7th of March, June, September and December of each year, commencing March 7, 2018 (short first coupon)

 

 

 

 

20.

Interest Payment Date Convention:

 

Modified, Following Adjusted

 

 

 

 

21.

Business Day:

 

New York City, London, TARGET

 

 

 

 

22.

Change of Interest Basis or Redemption / Payment Basis:

 

Not Applicable

 

 

 

 

23.

Day Count Convention:

 

Actual/360

 

 

 

 

24.

Stabilization Agent:

 

Société Générale

 

 

 

 

25.

ISIN:

 

XS1767930826

 

 

26.

Plan of Distribution:

 

Principal Amount Of

 

 

 Name

 

Notes

 

 

 BNP Paribas

 

€               118,750,000

 

 

 Deutsche Bank AG, London Branch

 

118,750,000

118,750,000

 

 HSBC Securities (USA) Inc.

 

118,750,000

 

 

 Société Générale

 

118,750,000

 

 

 Commerzbank Aktiengesellschaft

 

118,750,000

 

 

 UniCredit Bank AG

 

118,750,000

 

 

 BNY Mellon Capital Markets, LLC

 

18,750,000

 

 

 U.S. Bancorp Investments, Inc.

 

18,750,000

 

 

 Total

 

               750,000,000

 

The above Agents have agreed to purchase the respective principal amount of Notes, opposite their names as principal, at a price of 99.650% plus accrued interest from February 7, 2018 if settlement occurs after that date.

 

27.

Other:

 

 

 

Recent Developments

 

Ford Credit reported net income of $1.8 billion in the fourth quarter of 2017, an increase of $1.5 billion from a year ago, and net income of $3 billion for full year 2017, an increase of $1.6 billion from a year ago. On a pre-tax basis, Ford Credit earned $610 million in the fourth quarter of 2017, up $212 million or 53% from a year ago, and $2.3 billion for full year 2017, an increase of $431 million or 23% from a year ago. The increase in pre-tax profit for the fourth quarter of 2017 was led primarily by strong receivables growth, financing margin, and lease residual performance. The increase in pre-tax profit for full year 2017 was led by favorable volume and mix, lease residual improvement, and financing margin.

 



 

The fourth quarter and full year 2017 results described above are preliminary, unaudited, and subject to completion. This preliminary financial data has been prepared by, and is the responsibility of, Ford Credit’s management. PricewaterhouseCoopers LLP has not audited, reviewed, compiled, or applied agreed-upon procedures with respect to the preliminary financial data. Accordingly, PricewaterhouseCoopers LLP does not express an opinion or any other form of assurance with respect thereto.

 

MIFID II product governance / Professional investors and ECPs only target market

 

Solely for the purposes of each manufacturer’s product approval process, the target market assessment in respect of the Euro Medium-Term Notes has led to the conclusion that: (i) the target market for the Euro Medium-Term Notes is eligible counterparties and professional clients only, each as defined in Directive 2014/65/EU (as amended, “MiFID II”); and (ii) all channels for distribution of the Euro Medium-Term Notes to eligible counterparties and professional clients are appropriate. Any person subsequently offering, selling or recommending the Euro Medium-Term Notes (a “distributor”) should take into consideration the manufacturers’ target market assessment; however, a distributor subject to MiFID II is responsible for undertaking its own target market assessment in respect of the Euro Medium-Term Notes (by either adopting or refining the manufacturers’ target market assessment) and determining appropriate distribution channels.

 

Settlement

 

It is expected that delivery of the Notes will be made against payment therefor on or about February 7, 2018, which will be the fourth business day following the date of pricing of the Notes (such settlement cycle being referred to herein as “T+4”). Under Rule 15c6-1 pursuant to the Securities Exchange Act of 1934, as amended, trades in the secondary market generally are required to settle in two business days, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the Notes on the date of pricing or the next succeeding business day will be required, by virtue of the fact that the Notes initially will settle in T+4, to specify an alternate settlement cycle at the time of any such trade to prevent a failed settlement. Purchasers of the Notes who wish to trade those Notes on the date of pricing should consult their own advisor.