Filed Pursuant to Rule 433
Registration No. 333-259121
Final Term Sheet
March 24, 2022
THE HOME DEPOT, INC.
$500,000,000 2.700% Notes due April 15, 2025
$750,000,000 2.875% Notes due April 15, 2027
$1,250,000,000 3.250% Notes due April 15, 2032
$1,500,000,000 3.625% Notes due April 15, 2052
Issuer: | The Home Depot, Inc. | |||||||||||||
Expected Ratings (Moody’s/S&P/Fitch)*: | A2/A/A | |||||||||||||
Trade Date: | March 24, 2022 | |||||||||||||
Settlement Date (T+2): | March 28, 2022 | |||||||||||||
Title of Securities: | 2.700% Notes due April 15, 2025 | 2.875% Notes due April 15, 2027 | 3.250% Notes due April 15, 2032 | 3.625% Notes due April 15, 2052 | ||||||||||
Principal Amount: | $500,000,000 | $750,000,000 | $1,250,000,000 | $1,500,000,000 | ||||||||||
Maturity Date: | April 15, 2025 | April 15, 2027 | April 15, 2032 | April 15, 2052 | ||||||||||
Treasury Benchmark: | 1.750% due March 15, 2025 | 1.875% due February 28, 2027 | 1.875% due February 15, 2032 | 1.875% due November 15, 2051 | ||||||||||
Benchmark Yield: | 2.360% | 2.390% | 2.361% | 2.544% | ||||||||||
Spread to Benchmark: | 40 bps | 60 bps | 95 bps | 120 bps | ||||||||||
Reoffer Yield: | 2.760% | 2.990% | 3.311% | 3.744% | ||||||||||
Price to Public: | 99.825% | 99.464% | 99.481% | 97.863% | ||||||||||
Coupon: | 2.700% per annum | 2.875% per annum | 3.250% per annum | 3.625% per annum | ||||||||||
Interest Payment Dates: | Semi-annually on each April 15 and October 15, commencing on October 15, 2022. | Semi-annually on each April 15 and October 15, commencing on October 15, 2022. | Semi-annually on each April 15 and October 15, commencing on October 15, 2022. | Semi-annually on each April 15 and October 15, commencing on October 15, 2022. | ||||||||||
Optional Redemption: | Prior to March 15, 2025, make-whole call at T+10 bps; par call on and after March 15, 2025. | Prior to March 15, 2027, make-whole call at T+10 bps; par call on and after March 15, 2027. | Prior to January 15, 2032, make-whole call at T+15 bps; par call on and after January 15, 2032. | Prior to October 15, 2051, make-whole call at T+20 bps; par call on and after October 15, 2051. | ||||||||||
Day Count Convention: | 30/360 | 30/360 | 30/360 | 30/360 | ||||||||||
CUSIP/ISIN: | 437076CM2 / US437076CM21 | 437076CN0 / US437076CN04 | 437076CP5 / US437076CP51 | 437076CQ3 / US437076CQ35 | ||||||||||
Joint Book-Running Managers: | Barclays Capital Inc. BofA Securities, Inc. J.P. Morgan Securities LLC Morgan Stanley & Co. LLC | |||||||||||||
Co-Managers: | BNY Mellon Capital Markets, LLC Citigroup Global Markets Inc. Credit Suisse Securities (USA) LLC Deutsche Bank Securities Inc. Fifth Third Securities, Inc. Goldman Sachs & Co. LLC Mizuho Securities USA LLC RBC Capital Markets, LLC Siebert Williams Shank & Co., LLC TD Securities (USA) LLC Truist Securities, Inc. U.S. Bancorp Investments, Inc. Wells Fargo Securities, LLC Samuel A. Ramirez & Company, Inc. |
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 website 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 contacting (i) Barclays Capital Inc. toll-free at 1-888-603-5847, (ii) BofA Securities, Inc. toll-free at 1-800-294-1322, (iii) J.P. Morgan Securities LLC collect at 1-212-834-4533 or (iv) Morgan Stanley & Co. LLC toll-free at 1-800-718-1649.
*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.