0001193125-23-130623.txt : 20230501 0001193125-23-130623.hdr.sgml : 20230501 20230501165350 ACCESSION NUMBER: 0001193125-23-130623 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20230501 DATE AS OF CHANGE: 20230501 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: GATX CORP CENTRAL INDEX KEY: 0000040211 STANDARD INDUSTRIAL CLASSIFICATION: TRANSPORTATION SERVICES [4700] IRS NUMBER: 361124040 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-264721 FILM NUMBER: 23874646 BUSINESS ADDRESS: STREET 1: 233 SOUTH WACKER DRIVE CITY: CHICAGO STATE: IL ZIP: 60606-7147 BUSINESS PHONE: 3126216200 MAIL ADDRESS: STREET 1: 233 SOUTH WACKER DRIVE CITY: CHICAGO STATE: IL ZIP: 60606-7147 FORMER COMPANY: FORMER CONFORMED NAME: GENERAL AMERICAN TRANSPORTATION CORP DATE OF NAME CHANGE: 19750722 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: GATX CORP CENTRAL INDEX KEY: 0000040211 STANDARD INDUSTRIAL CLASSIFICATION: TRANSPORTATION SERVICES [4700] IRS NUMBER: 361124040 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: 233 SOUTH WACKER DRIVE CITY: CHICAGO STATE: IL ZIP: 60606-7147 BUSINESS PHONE: 3126216200 MAIL ADDRESS: STREET 1: 233 SOUTH WACKER DRIVE CITY: CHICAGO STATE: IL ZIP: 60606-7147 FORMER COMPANY: FORMER CONFORMED NAME: GENERAL AMERICAN TRANSPORTATION CORP DATE OF NAME CHANGE: 19750722 FWP 1 d490617dfwp.htm FWP FWP

Pursuant to Rule 433

Registration No. 333-264721

May 1, 2023

GATX Corporation

PRICING TERM SHEET

May 1, 2023

 

Issuer:    GATX Corporation
Pricing Date:    May 1, 2023
Expected Settlement Date:    May 3, 2023 (T+2)
Expected Ratings*:    Moody’s: Baa2 (Stable) / S&P: BBB (Stable) / Fitch BBB+ (Stable)
Security:    5.450% Senior Notes due 2033
Size:    $400,000,000
Maturity Date:    September 15, 2033
Coupon:    5.450%
Interest Payment Dates:    March 15 and September 15, commencing September 15, 2023 (short first coupon)
Benchmark Treasury:    UST 3.500% due February 15, 2033
Benchmark Treasury Price and Yield:    99-12+/3.574%
Spread to Benchmark Treasury:    + 190 basis points
Re-Offer Yield:    5.474%
Price to Investors:    99.819%
Redemption:   

At any time prior to June 15, 2033 (three months prior to the maturity date) (the “Par Call Date”), at a redemption price equal to the greater of (1) 100% of the aggregate principal amount of the notes to be redeemed; or (2)(a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the redemption date (assuming the notes matured on the Par Call Date) on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 30 basis points less (b) interest accrued to the date of redemption; plus, in either case, accrued and unpaid interest on the notes being redeemed to, but excluding, the redemption date.

 

At any time on or after the Par Call Date, we may redeem the notes at a redemption price equal to 100% of the principal amount of notes being redeemed.

CUSIP/ISIN:    361448 BL6 / US361448BL67
Joint Book-Running Managers:   

BofA Securities, Inc.

Citigroup Global Markets Inc.

Morgan Stanley & Co. LLC

Senior Co-Managers:   

KeyBanc Capital Markets Inc.

PNC Capital Markets LLC

U.S. Bancorp Investments, Inc.

Co-Managers:   

BMO Capital Markets Corp.

Fifth Third Securities, Inc.

Huntington Securities, Inc.

Loop Capital Markets LLC

Siebert Williams Shank & Co., LLC

MUFG Securities Americas Inc.

 

*

Note: A securities rating is not a recommendation to buy, sell or hold securities any 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 and prospectus supplement 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 and the prospectus supplement if you request it by calling BofA Securities, Inc. toll-free at 1-800-294-1322, Citigroup Global Markets Inc. toll-free at 1-800-831-9146 or Morgan Stanley & Co. LLC at 1-866-718-1649.