CoreCivic (CXW) FWP Free writing prospectus

PRICING SUPPLEMENT	Issuer Free Writing Prospectus
	Filed Pursuant to Rule 433
	Registration Statement No. 333-255070
	Dated April 7, 2021

$450,000,000

CoreCivic, Inc.

8.25% Senior Notes due 2026

April 7, 2021

The information in this pricing supplement (this “Pricing Supplement”) supplements CoreCivic, Inc.’s preliminary prospectus supplement dated April 7, 2021 and the accompanying prospectus (the “Preliminary Prospectus Supplement”) and updates and supersedes the information in the Preliminary Prospectus Supplement to the extent inconsistent with the information in the Preliminary Prospectus Supplement. This Pricing Supplement is otherwise qualified in its entirety by reference to the Preliminary Prospectus Supplement and should be read together with the Preliminary Prospectus Supplement (including the documents incorporated by reference therein). Capitalized terms used in this Pricing Supplement but not defined have the meanings given to them in the Preliminary Prospectus Supplement.

Issuer:	CoreCivic, Inc. (the “Issuer”)
Guarantors:	ACS Corrections of Texas, L.L.C.
	Avalon Corpus Christi Transitional Center, LLC
	Avalon Correctional Services, Inc.
	Avalon Transitional Center Dallas, LLC
	Avalon Tulsa, L.L.C.
	Carver Transitional Center, L.L.C.
	CCA Health Services, LLC
	CCA International, LLC
	CCA South Texas, LLC
	CoreCivic, LLC
	CoreCivic Government Solutions, LLC
	CoreCivic of Tallahassee, LLC
	CoreCivic of Tennessee, LLC
	CoreCivic TRS, LLC
	Correctional Alternatives, LLC
	Correctional Management, Inc.
	EP Horizon Management, LLC
	Fort Worth Transitional Center, L.L.C.
	Green Level Realty LLC National Offender Management Systems, LLC Prison Realty Management, LLC Recovery Monitoring Solutions Corporation Rocky Mountain Offender Management Systems, LLC Southern Corrections Systems of Wyoming, L.L.C. Technical and Business Institute of America, LLC Time to Change, Inc. TransCor America, LLC Turley Residential Center, L.L.C.

 

Title of Securities:	8.25% Senior Notes due 2026 (the “Notes”)
Offering Format:	SEC registered
Aggregate Principal Amount:	$450,000,000
Maturity Date:	April 15, 2026
Issue Price:	99%
Coupon:	8.25%
Yield to Maturity:	8.5%
Gross Proceeds:	$445,500,000
Interest Payment Dates:	April 15 and October 15 of each year, commencing October 15, 2021
Record Dates:	April 1 and October 1 of each year
Optional Redemption:	At any time prior to April 15, 2024, the Issuer may redeem all or part of the Notes at a “make-whole” redemption price equal to the greater of (1) 100% of the aggregate principal amount of the Notes to be redeemed; and (2) as determined by an Independent Investment Banker, the sum of the present values as of such redemption date of (i) the redemption price of the Notes on April 15, 2024 (set forth in the immediately following paragraph) and (ii) the remaining scheduled payments of interest on the Notes to be redeemed through April 15, 2024 (not including any portion of such payments of interest accrued to the date of redemption) discounted to the redemption date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury Rate for the Notes +50 basis points, plus, in either of the above cases, accrued and unpaid interest to the date of redemption on the notes to be redeemed. On or after April 15, 2024, the Notes are redeemable at the election of the Issuer, in whole or in part, at a redemption price (expressed as percentages of the principal amount thereof) set forth below, plus accrued and unpaid interest, if any, to the redemption date, if redeemed during the 12-month period beginning on April 15 of each of the years indicated below:
		2024	104.125%
		2025 and thereafter	100%
	“Comparable Treasury Issue” means the United States Treasury security selected by an Independent Investment Banker as having an actual or interpolated maturity comparable to the period from the redemption date to April 15, 2024 that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the Notes (“Remaining Life”).

Change of Control:			Putable at 101% of aggregate principal amount, plus accrued and unpaid interest.
Trade Date:			April 7, 2021
Settlement Date:			April 14, 2021 (T+5)
Lead Left Underwriter:			Imperial Capital, LLC
Joint Bookrunner:			StoneX Financial Inc.
Co-Manager:			Wedbush Securities Inc.
Use of Proceeds:	A significant amount of the net proceeds from this offering are expected to be used (i) to redeem the Issuer’s $250 million principal amount of 5.00% senior notes due 2022 (the “2022 Senior Notes”), including the payment of the applicable make-whole amount and accrued interest, and (ii) to otherwise repay or reduce our other indebtedness, which may include repurchasing or redeeming a portion of the Issuer’s $350 million principal amount of 4.625% senior notes due 2023 (the “2023 Senior Notes”). The Issuer may use any remaining proceeds for general corporate purposes.
CUSIP/ISIN Numbers:		21871NAB7 and US21871NAB73
Denominations/Multiple:		$2,000 x $1,000

The Issuer has filed a registration statement (including a prospectus) and a Preliminary Prospectus Supplement, dated April 7, 2021, with the Securities and Exchange Commission (the “SEC”) for the offering to which this communication relates. Before you invest, you should read the Preliminary Prospectus Supplement, the accompanying prospectus and the other documents that the Issuer has filed with the SEC for more complete information about the Issuer, the Guarantors, and this offering. You may get these documents, free of charge, by visiting 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 Preliminary Prospectus Supplement and the accompanying prospectus if you request it by calling Imperial Capital at (310) 246-3700.

This communication is neither an offer to sell nor a solicitation of an offer to buy any securities in any jurisdiction to any person to whom it is unlawful to make such offer or solicitation in such jurisdiction, nor shall it constitute a notice of redemption under the indenture governing the 2022 Senior Notes or the 2023 Senior Notes.

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 email or another communication system.