Filed Pursuant to Rule 433
Dated April 4, 2023
Registration Statement Nos. 333-263539, 333-263539-01, 333-263539-02
Relating to Preliminary Prospectus Supplement dated April 4, 2023
and Prospectus dated March 14, 2022
CNH INDUSTRIAL CAPITAL LLC
$600,000,000 4.550% NOTES DUE 2028
| Issuer: | CNH Industrial Capital LLC |
| Guarantors: | CNH Industrial Capital America LLC and New Holland Credit Company, LLC |
| Expected Ratings (Moody’s / S&P / Fitch):* | Baa2 / BBB / BBB+ |
| Form: | SEC Registered |
| Principal Amount: | $600,000,000 |
| Trade Date: | April 4, 2023 |
| Settlement Date: | April 10, 2023 (T+3) |
| Maturity Date: | April 10, 2028 |
| Interest Payment Dates: | April 10 and October 10, commencing October 10, 2023 |
| Coupon: | 4.550% per annum |
| Price to Public: | 98.857% of the principal amount, plus accrued interest from April 10, 2023 if settlement occurs after that date |
| Net Proceeds to Issuer Before Expenses: | $589,542,000 |
| Benchmark Treasury: | UST 3.625% due March 31,2028 |
| Spread to Benchmark Treasury: | +140 basis points |
| Benchmark Treasury Price and Yield: | 100-31¼; 3.410% |
| Yield to Maturity: | 4.810% |
| Optional Redemption: | Make-whole call prior to March 10, 2028 based on U.S.
Treasury +0.25% (25 basis points) or at par on or after March 10, 2028 |
| Change of Control: | 101% |
| Denominations: | $2,000 x $1,000 |
| CUSIP / ISIN: | 12592B AQ7 / US12592BAQ77 |
| Joint Book-Running Managers: | Deutsche Bank Securities Inc. Citigroup Global Markets Inc. Goldman Sachs & Co. LLC MUFG Securities Americas Inc. BBVA Securities Inc. Credit Agricole Securities (USA) Inc. Mizuho Securities USA LLC Rabo Securities 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) and a preliminary prospectus supplement with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement, the preliminary prospectus supplement and other documents the issuer has filed with the SEC for more complete information about the issuer and the offering. You may get these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus and the preliminary prospectus supplement if you request them by contacting: Deutsche Bank Securities Inc.’s toll-free number at 1-800-503-4611; Citigroup Global Markets Inc.’s toll-free number at 1-800-831-9146; Goldman Sachs & Co. LLC’s toll-free number at 1-866-471-2526; and MUFG Securities Americas Inc.’s toll-free number at 1-877-649-6848.
