Filed Pursuant to Rule 433
Registration No. 333-237672
June 8, 2020
Magna International Inc.
Pricing Term Sheet
$750,000,000 2.450% Senior Notes due 2030
Issuer | Magna International Inc. | |
Trade Date | June 8, 2020 | |
Settlement Date | June 15, 2020 (T+5) | |
Expected Ratings* | A3 (Negative) /A- (Negative Watch) (Moody’s / S&P) | |
Issue of Securities | 2.450% Senior Notes due 2030 | |
Aggregate Principal Amount Offered | $750,000,000 | |
Maturity Date | June 15, 2030 | |
Interest Rate | 2.450% per year | |
Benchmark Treasury | UST 0.625% due May 15, 2030 | |
Spread to Benchmark Treasury | +162.5 basis points | |
Benchmark Treasury Price and Yield | 97-20+; 0.874% | |
Yield to Maturity | 2.499% | |
Price to Public | 99.569%, plus accrued interest, if any, from June 15, 2020 | |
Interest Payment Dates | Semi-annually in arrears on June 15 and December 15 of each year, beginning on December 15, 2020 | |
Make-Whole Call | Prior to March 15, 2030, T+25 basis points | |
Par Call | On or after March 15, 2030 | |
Denominations | Minimum of $2,000 and integral multiples of $1,000 in excess thereof. | |
CUSIP / ISIN | 559222 AV6 / US559222AV67 |
* | A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time. |
Joint Book-Running Managers | BofA Securities, Inc. Citigroup Global Markets Inc. TD Securities (USA) LLC BNP Paribas Securities Corp. RBC Capital Markets, LLC Scotia Capital (USA) Inc. | |
Co-Managers | CIBC World Markets Corp. MUFG Securities Americas Inc. BMO Capital Markets Corp. Commerz Markets LLC HSBC Securities (USA) Inc. ING Financial Markets LLC J.P. Morgan Securities LLC Santander Investment Securities Inc. ICBC Standard Bank Plc Loop Capital Markets LLC RB International Markets (USA) LLC |
The issuer has filed a registration statement (including a prospectus) with the United States Securities and Exchange Commission (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 calling BofA Securities, Inc. toll-free at1-800-294-1322, Citigroup Global Markets Inc. toll-free at1-800-831-9146 or TD Securities (USA) LLC at1-855-495-9846.
ICBC Standard Bank Plc is restricted in its U.S. securities dealings under the United States Bank Holding Company Act and may not underwrite, subscribe, agree to purchase or procure purchasers to purchase notes that are offered or sold in the United States. Accordingly, ICBC Standard Bank Plc shall not be obligated to, and shall not, underwrite, subscribe, agree to purchase or procure purchasers to purchase notes that may be offered or sold by other underwriters in the United States. ICBC Standard Bank Plc shall offer and sell the Securities constituting part of its allotment solely outside the United States.
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