0001193125-19-214217.txt : 20190806 0001193125-19-214217.hdr.sgml : 20190806 20190806172255 ACCESSION NUMBER: 0001193125-19-214217 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20190806 DATE AS OF CHANGE: 20190806 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PPG INDUSTRIES INC CENTRAL INDEX KEY: 0000079879 STANDARD INDUSTRIAL CLASSIFICATION: PAINTS, VARNISHES, LACQUERS, ENAMELS & ALLIED PRODUCTS [2851] IRS NUMBER: 250730780 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-232895 FILM NUMBER: 191003185 BUSINESS ADDRESS: STREET 1: ONE PPG PL 40 EAST CITY: PITTSBURGH STATE: PA ZIP: 15272 BUSINESS PHONE: 4124343131 MAIL ADDRESS: STREET 1: ONE PPG PL 40 EAST CITY: PITTSBURGH STATE: PA ZIP: 15272 FORMER COMPANY: FORMER CONFORMED NAME: PITTSBURGH PLATE GLASS CO DATE OF NAME CHANGE: 19681219 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: PPG INDUSTRIES INC CENTRAL INDEX KEY: 0000079879 STANDARD INDUSTRIAL CLASSIFICATION: PAINTS, VARNISHES, LACQUERS, ENAMELS & ALLIED PRODUCTS [2851] IRS NUMBER: 250730780 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: ONE PPG PL 40 EAST CITY: PITTSBURGH STATE: PA ZIP: 15272 BUSINESS PHONE: 4124343131 MAIL ADDRESS: STREET 1: ONE PPG PL 40 EAST CITY: PITTSBURGH STATE: PA ZIP: 15272 FORMER COMPANY: FORMER CONFORMED NAME: PITTSBURGH PLATE GLASS CO DATE OF NAME CHANGE: 19681219 FWP 1 d726238dfwp.htm FWP FWP

Free Writing Prospectus

Filed Pursuant to Rule 433

Registration Statement No. 333-232895

August 6, 2019

PPG INDUSTRIES, INC.    

 

Issuer:    PPG Industries, Inc.    PPG Industries, Inc.
Title of Securities:    2.400% Notes due August 15, 2024    2.800% Notes due August 15, 2029
Long-Term Debt Ratings*:   

Moody’s: A3 (negative)

Fitch: A- (stable)

S&P: A- (stable)

   

Moody’s: A3 (negative)

Fitch: A- (stable)

S&P: A- (stable)

Format:    SEC Registered    SEC Registered
Principal Amount Offered:    $300,000,000    $300,000,000
Trade Date:    August 6, 2019    August 6, 2019
Settlement Date (T+7):    August 15, 2019    August 15, 2019
Maturity Date:    August 15, 2024    August 15, 2029
Price to Public:    99.827% of the principal amount offered    99.732% of the principal amount offered
Coupon:    2.400% per annum    2.800% per annum
Yield to Maturity:    2.437%    2.831%
Spread to Benchmark Treasury:    T + 90 bps    T + 110 bps
Benchmark Treasury:    1.750% UST due July 31, 2024    2.375% UST due May 15, 2029
Benchmark Treasury Price and Yield:    101-00+; 1.537%    105-24+; 1.731%
Interest Payment Dates:    Semiannually in arrears on each February 15 and August 15, commencing on February 15, 2020    Semiannually in arrears on each February 15 and August 15, commencing on February 15, 2020
Make-Whole Call:    Prior to July 15, 2024 (the date that is one month prior to maturity), the greater of par or make-whole at Treasury Rate (as defined in the prospectus supplement) plus 15 bps    Prior to May 15, 2029 (the date that is three months prior to maturity), the greater of par or make-whole at Treasury Rate (as defined in the prospectus supplement) plus 20 bps
Par Call:    On or after July 15, 2024    On or after May 15, 2029
CUSIP/ISIN:    693506BQ9 / US693506BQ91    693506BR7 / US693506BR74
Joint Book-Running Managers:   

J.P. Morgan Securities LLC

BNP Paribas Securities Corp.

PNC Capital Markets LLC

Citigroup Global Markets Inc.

MUFG Securities Americas Inc.

   

J.P. Morgan Securities LLC

BNP Paribas Securities Corp.

PNC Capital Markets LLC

Citigroup Global Markets Inc.

MUFG Securities Americas Inc.

Senior Co-Managers:   

BBVA Securities Inc.

BofA Securities, Inc.

Credit Suisse Securities (USA) LLC

Deutsche Bank Securities Inc.

Goldman Sachs & Co. LLC

HSBC Securities (USA) Inc.

Mizuho Securities USA LLC

Santander Investment Securities Inc.

SG Americas Securities, LLC

SMBC Nikko Securities America, Inc.

TD Securities (USA) LLC

Telsey Advisory Group LLC

U.S. Bancorp Investments, Inc.

Wells Fargo Securities, LLC

   

BBVA Securities Inc.

BofA Securities, Inc.

Credit Suisse Securities (USA) LLC

Deutsche Bank Securities Inc.

Goldman Sachs & Co. LLC

HSBC Securities (USA) Inc.

Mizuho Securities USA LLC

Santander Investment Securities Inc.

SG Americas Securities, LLC

SMBC Nikko Securities America, Inc.

TD Securities (USA) LLC

Telsey Advisory Group LLC

U.S. Bancorp Investments, Inc.

Wells Fargo Securities, LLC

Co-Managers:   

ANZ Securities, Inc.

BNY Mellon Capital Markets, LLC

ICBC Standard Bank Plc

Morgan Stanley & Co. LLC

The Huntington Investment Company

The Williams Capital Group, L.P.

   

ANZ Securities, Inc.

BNY Mellon Capital Markets, LLC

ICBC Standard Bank Plc

Morgan Stanley & Co. LLC

The Huntington Investment Company

The Williams Capital Group, L.P.

* An explanation of the significance of ratings may be obtained from the rating agencies. Generally, rating agencies base their ratings on such materials and information, and such of their own investigations, studies and assumptions, as they deem appropriate. The rating of the notes should be evaluated independently from similar ratings of other securities. A credit rating of a security is not a recommendation to buy, sell or hold securities and may be subject to review, revision, suspension, reduction or withdrawal at any time by the assigning rating agency.

This final term sheet supplements, and should be read in conjunction with, the issuer’s preliminary prospectus supplement dated August 6, 2019 and accompanying prospectus dated July 30, 2019.    

We expect to deliver the securities described herein against payment on or about the Settlement Date, which will be the seventh business day following the date of the pricing of the securities (this settlement cycle being referred to as “T+7”). Under Rule 15c6-1 under the Exchange Act, 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 securities on the date of pricing or the next succeeding business day will be required, by virtue of the fact that the securities initially will settle in T+7, to specify an alternate settlement cycle at the time of any such trade to prevent a failed settlement. Purchasers who wish to trade the securities on the date of pricing or the next succeeding business day should consult their own advisor.

This communication is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any security. No offer to buy securities described herein can be accepted, and no part of the purchase price thereof can be received, unless the person making such investment decision has received and reviewed the information contained in the relevant prospectus in making their investment decisions. 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 supplement and accompanying prospectus related to 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 if you request it by calling J.P. Morgan Securities LLC collect at 212-834-4533, BNP Paribas Securities Corp. collect at 212-841-2871 or PNC Capital Markets LLC toll-free at 855-881-0697.