Issuer Free Writing Prospectus
Filed Pursuant to Rule 433
Registration Statement No. 333-160043
August 12, 2009
Pricing Term Sheet
Discovery Communications, LLC
5.625% Notes due 2019
| | | |
| Issuer: | | Discovery Communications, LLC |
| Guarantor: | | Discovery Communications, Inc. |
| Principal Amount: | | $500 million |
| Security Type: | | Senior Note |
| Maturity Date: | | August 15, 2019 |
| Coupon: | | 5.625% |
| Price to Public: | | 99.428% |
| Yield to Maturity: | | 5.701% |
| Spread to Benchmark Treasury: | | 200 basis points |
| Benchmark Treasury: | | 3.125% due May 15, 2019 |
| Benchmark Treasury Spot and Yield: | | 95-10 ; 3.701% |
| Net Proceeds to Issuer: | | $493,890,000 |
| Interest Payment Dates: | | August 15 and February 15, commencing February 15, 2010 |
| Make-Whole Call: | | At any time at Treasury plus 30 basis points |
| Trade Date: | | August 12, 2009 |
| Settlement Date: | | August 19, 2009 (T+5) |
| Denominations: | | $2,000 x $1,000 |
| CUSIP/ISIN: | | 25470D AA7 / US25470DAA72 |
| Ratings*: | | Baa2 (stable) Moody’s Investors Service, Inc.
BBB- (stable) Standard & Poor’s Ratings Services
BBB (stable) Fitch Ratings Ltd. |
| Joint Bookrunners: | | Citigroup Global Markets Inc.
J.P. Morgan Securities Inc.
Banc of America Securities LLC
Credit Suisse Securities (USA) LLC
RBS Securities Inc. |
| Co-Managers: | | Barclays Capital Inc.
Calyon Securities (USA) Inc.
Fortis Securities LLC
Goldman, Sachs & Co.
RBC Capital Markets Corporation
Scotia Capital (USA) Inc. |
*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 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 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 Citigroup Global Markets Inc. toll-free at (877) 858-5407 or J.P. Morgan Securities Inc. collect at (212) 834-4533.
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