Loews Corporation $500,000,000 3.200% Senior Notes due 2030 | |
| Issuer: | Loews Corporation |
| Offering Format: | SEC registered |
| Securities: | 3.200% Senior Notes due 2030 |
| Security Type: | Senior unsecured fixed rate notes |
| Ratings (Moody’s/S&P/Fitch):* | A3 / A / A |
| Trade Date: | May 6, 2020 |
| Settlement Date: | May 8, 2020 (T+2) |
| Maturity Date: | May 15, 2030 |
| Interest Payment Dates: | May 15 and November 15, commencing November 15, 2020 |
| Principal Amount: | $500,000,000 |
| Treasury Benchmark: | 1.500% due February 15, 2030 |
| Treasury Benchmark Yield: | 0.713% |
| Spread to Treasury Benchmark: | +250 bps |
| Yield to Maturity: | 3.213% |
| Coupon: | 3.200% |
| Price to Public: | 99.889% |
| Make-Whole Call: | Make-whole redemption at any time prior to February 15, 2030 at a discount rate of U.S. Treasury + 40 bps. |
| Par Call: | If the Notes are redeemed on or after February 15, 2030, the Issuer will pay a redemption price equal to 100% of the principal amount of the Notes redeemed plus accrued interest to the date of redemption. |
| CUSIP / ISIN: | 540424AT5 / US540424AT59 |
| Denomination: | $2,000 and integral multiples of $1,000 in excess thereof |
| Joint Book-Running Managers: | J.P. Morgan Securities LLC Barclays Capital Inc. MUFG Securities Americas Inc. Wells Fargo Securities, LLC Citigroup Global Markets Inc. SunTrust Robinson Humphrey, Inc. BofA Securities, Inc. U.S. Bancorp Investments, Inc. |
| Co-Managers: | BMO Capital Markets Corp. Credit Suisse Securities (USA) LLC Goldman Sachs & Co. LLC HSBC Securities (USA) Inc. Mizuho Securities USA LLC Morgan Stanley & Co. LLC RBC Capital Markets, LLC Regions Securities LLC TD Securities (USA) LLC |
