Issuer:
|
Raymond James Financial, Inc.
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Title:
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4.650% Senior Notes due 2030
|
Aggregate Principal Amount:
|
$500,000,000
|
Trade Date:
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March 26, 2020
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Settlement Date:
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March 31, 2020 (T+3)
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Final Maturity:
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April 1, 2030
|
Anticipated Ratings*:
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Moody’s: Baa1 (Stable)
S&P: BBB+ (Stable)
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Benchmark Treasury:
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1.500% due February 15, 2030
|
Treasury Price & Yield:
|
106-23; 0.792%
|
Spread to Benchmark:
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T + 390 basis points
|
Re-offer Yield:
|
4.692%
|
Coupon:
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4.650%
|
Issue Price to Investors:
|
99.668%
|
Proceeds to Issuer (after underwriting discount, but before expenses):
|
$495,090,000
|
Interest Payment Dates:
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Semi-annually in arrears on April 1 and October 1, commencing on October 1, 2020
|
Day Count Convention:
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30/360, unadjusted
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Redemption:
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At any time prior to January 1, 2030, at a make-whole price equal to the greater of (a) 100% of the principal amount or (b) discounted present value at Treasury rate plus 50 basis points;
and on or after January 1, 2030, at 100% of the principal; plus, in each case, accrued interest to but excluding the redemption date
|
Denominations:
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$2,000 denominations and integral multiples of $1,000
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CUSIP/ISIN:
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754730 AG4 / US754730AG43
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Joint Book-Running Managers:
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J.P. Morgan Securities LLC
BofA Securities, Inc.
Citigroup Global Markets Inc.
Raymond James & Associates, Inc.
|
Co-Managers:
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Regions Securities LLC
U.S. Bancorp Investments, Inc.
SunTrust Robinson Humphrey, Inc.
BNY Mellon Capital Markets, LLC
PNC Capital Markets LLC
|