Issuer Free Writing Prospectus
Filed Pursuant to Rule 433
Registration Statement No. 333-256336
February 12, 2024
FINAL TERM SHEET
5.000% Senior Notes due 2034
| Issuer: | The Estée Lauder Companies Inc. |
| Security: | 5.000% Senior Notes due 2034 (the “Notes”) |
| Size: | $650,000,000 |
| Maturity Date: | February 14, 2034 |
| Coupon: | 5.000% |
| Interest Payment Dates: | February 14 and August 14, commencing August 14, 2024 |
| Price to Public: | 99.689% |
| Benchmark Treasury: | 4.00% due February 15, 2034 |
| Benchmark Treasury Price and Yield: | 98-20; 4.170% |
| Spread to Benchmark Treasury: | +87 bps |
| Yield: | 5.040% |
| Optional Redemption: | At any time prior to November 14, 2033 (three months prior to the maturity date of the Notes), make-whole call at Treasury +15 bps On or after November 14, 2033 (three months prior to the maturity date of the Notes), par call |
| Expected Settlement Date: | February 14, 2024 (“T+2”) |
| CUSIP / ISIN: | 29736R AV2 / US29736RAV24 |
| Anticipated Ratings: | A1 (Negative) by Moody’s Investors Service, Inc. A (Negative) by Standard & Poor’s |
| Joint Book-Running Managers: | BofA Securities, Inc. Goldman Sachs & Co. LLC MUFG Securities Americas Inc. BNP Paribas Securities Corp. Citigroup Global Markets Inc. J.P. Morgan Securities LLC |
| Co-Managers: | HSBC Securities (USA) Inc. ICBC Standard Bank Plc RBC Capital Markets, LLC SG Americas Securities, LLC U.S. Bancorp Investments, Inc. Academy Securities, Inc. BBVA Securities Inc. Loop Capital Markets LLC Siebert Williams Shank & Co., LLC |
| Note: | A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time. |
The Estée Lauder Companies Inc. has filed a registration statement (including a prospectus supplement) with the SEC for the offering to which this communication relates. Before you invest, you should read the preliminary prospectus supplement and prospectus in that registration statement and other documents the Company has filed with the SEC for more complete information about the Company and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, The Estée Lauder Companies Inc., any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by contacting BofA Securities, Inc., 201 North Tryon Street, NC1-022-02-25, Charlotte, NC 28255-0001, Attn: Prospectus Department, by calling toll free 1- 800-294-1322 or by email at dg.prospectus_requests@bofa.com; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing prospectus-ny@ny.email.gs.com or MUFG Securities Americas Inc. at: 1221 Avenue of the Americas, 6th Floor, New York, NY 10020, Attn: Capital Markets Group, Phone: 877-649-6848.
This final term sheet supplements, and should be read in conjunction with, The Estée Lauder Companies Inc. preliminary prospectus supplement dated February 12, 2024 and accompanying prospectus dated May 20, 2021 and the documents incorporated by reference therein.
Any disclaimers or other notices that may appear below are not applicable to this communication and should be disregarded. Such disclaimers or other notices were automatically generated as a result of this communication being sent via Bloomberg or another email system.
