FWP 1 a20-31456_5fwp.htm FWP

 

Filed Pursuant to Rule 433
Registration Statement No. 333-249084

 

Best Buy Co., Inc.
Pricing Term Sheet

 

Priced on September 29, 2020

 

1.950% Notes due 2030

 

Issuer:

 

Best Buy Co., Inc.

 

 

 

Title of Securities:

 

1.950% Notes due 2030

 

 

 

Trade Date:

 

September 29, 2020

 

 

 

Settlement Date:

 

T + 2: October 1, 2020

 

 

 

Principal Amount:

 

$650,000,000

 

 

 

Coupon (Interest Rate):

 

1.950% per annum

 

 

 

Maturity Date:

 

October 1, 2030

 

 

 

Price to Public (Issue Price):

 

99.612% of principal amount

 

 

 

Yield to Maturity:

 

1.993%

 

 

 

Benchmark Treasury:

 

UST 0.625% due August 15, 2030

 

 

 

Benchmark Treasury Price and Yield:

 

99-26+ / 0.643%

 

 

 

Spread to Benchmark Treasury:

 

T + 135 basis points

 

 

 

Interest Payment Dates:

 

Semi-annually on April 1 and October 1 of each year, beginning on April 1, 2021

 

 

 

Optional Redemption:

 

Prior to July 1, 2030, T + 25 basis points

 

 

 

Par Call:

 

On or after July 1, 2030

 

 

 

CUSIP / ISIN:

 

08652B AB5 / US08652BAB53

 

 

 

Expected Issuer Ratings*:

 

Baa1 (Stable) (Moody’s)

BBB (Stable) (S&P)

 

 

 

Joint Bookrunners:

 

Citigroup Global Markets Inc.

 

 

Goldman Sachs & Co. LLC

 

 

J.P. Morgan Securities LLC

BofA Securities, Inc.

U.S. Bancorp Investments, Inc.

 

 

 

Senior Co-Managers:

 

BBVA Securities Inc.
ICBC Standard Bank Plc

MUFG Securities Americas Inc.

RBC Capital Markets, LLC

 

 

 

Co-Managers:

 

BNP Paribas Securities Corp.

Loop Capital Markets LLC

Standard Chartered Bank

Wells Fargo Securities, LLC

 

*Note: A credit rating of a security is not a recommendation to buy, sell or hold such security and may be subject to review, revision, suspension, reduction or withdrawal at any time by the assigning rating agency. Each of the ratings included herein should be evaluated independently of any other rating.

 

The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus 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 website 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. at 1-800-831-9146, Goldman Sachs & Co. LLC at 1-212-902-1171 or J.P. Morgan Securities LLC at 1-212-834-4533.

 

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