Pursuant to Rule 433

Registration No. 333-264721

October 31, 2023

GATX Corporation

PRICING TERM SHEET

October 31, 2023

Issuer:	GATX Corporation
Pricing Date:	October 31, 2023
Expected Settlement Date:	November 2, 2023 (T+2)
Expected Ratings*:	Moody’s: Baa2 (Stable) / S&P: BBB (Stable) / Fitch BBB+ (Stable)
Security:	6.900% Senior Notes due 2034
Size:	$400,000,000
Maturity Date:	May 1, 2034
Coupon:	6.900%
Interest Payment Dates:	May 1 and November 1, commencing May 1, 2024 (short first coupon)
Benchmark Treasury:	UST 3.875% due August 15, 2033
Benchmark Treasury Price and Yield:	92-09+ / 4.873%
Spread to Benchmark Treasury:	+ 205 basis points
Re-Offer Yield:	6.923%
Price to Investors:	99.831%
Redemption:	At any time prior to February 1, 2034 (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 35 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:	361448BN2 / US361448BN24
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. 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.