Filed Pursuant to Rule 433
Registration StatementNo. 333-229396
Registration StatementNo. 333-229396-01
Pricing Term Sheet
BERKSHIRE HATHAWAY FINANCE CORPORATION
Pricing Term Sheet
$500,000,000 1.850% Senior Notes due 2030
Issuer: | Berkshire Hathaway Finance Corporation | |
Guarantor: | Berkshire Hathaway Inc. | |
Offering Format: | SEC Registered | |
Trade Date: | March 4, 2020 | |
Settlement Date: | March 12, 2020 (T+6) | |
Expected Ratings*: | Aa2/AA | |
1.850% Senior Notes due 2030
Principal Amount: | $500,000,000 | |
Maturity Date: | March 12, 2030 | |
Issue Price (Price to Public): | 99.900% of face amount | |
Gross Spread: | 35 bps | |
Proceeds to Issuer: | $497,750,000 | |
Interest Rate: | 1.850% per annum | |
Benchmark Treasury: | 1.50% due February 15, 2030 | |
Benchmark Treasury Yield: | 0.986% | |
Spread to Benchmark Treasury: | 87.5 bps | |
Yield to Maturity: | 1.861% | |
Day Count Convention: | 30/360
If any date on which interest is payable on the notes is not a business day, then payment of the interest payable on such date will be made on the next succeeding day that is a business day (and without any interest or other payment in respect of any such delay) with the same force and effect as if made on such interest payment date. | |
Interest Payment Dates: | Each March 12 and September 12, commencing September 12, 2020 | |
Optional Redemption Provisions: Make Whole Call:
Par Call: | Prior to December 12, 2029, make-whole call for scheduled payments that would be due if the notes matured on the Par Call date at Treasury +15 bps
On or after December 12, 2029 | |
Minimum Denomination: | $2,000 and integral multiples of $1,000 in excess thereof | |
CUSIP: | 084664 CU3 | |
ISIN: | US084664CU37 | |
Other Information
Joint Book-Running Managers: | BofA Securities, Inc. Goldman Sachs & Co. LLC J.P. Morgan Securities LLC Wells Fargo Securities, 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 |
Settlement Period: The closing will occur on March 12, 2020, which will be more than two U.S. business days after the date of this pricing term sheet. Rule 15c6-1 under the Securities Exchange Act of 1934 generally requires that securities trades in the secondary market settle in two business days, unless the parties to a trade expressly agree otherwise.
Each of the issuer and the guarantor 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 and the guarantor have filed with the SEC for more complete information about the issuer, the guarantor 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 BofA Securities, Inc. toll-free at (800)294-1322, Goldman Sachs & Co. LLC toll-free at (866)471-2526, J.P. Morgan Securities LLC collect at (212)834-4533 or Wells Fargo Securities, LLC toll-free at (800)645-3751.
