Filed pursuant to Rule 433
Registration No. 333-139863
February 19, 2009
PRICING TERM SHEET
Snap-on Incorporated
5.850% Notes due 2014
| | | |
| Issuer: | | Snap-on Incorporated |
| | | |
| Title: | | 5.850% Notes due 2014 |
| | | |
| Principal Amount: | | $100,000,000 |
| | | |
| Coupon: | | 5.850% |
| | | |
| Maturity Date: | | March 1, 2014 |
| | | |
| Treasury Benchmark: | | 1.750% due 01/31/2014 |
| | | |
| US Treasury Yield: | | 1.870% |
| | | |
| Spread to Treasury: | | Plus 400 basis points |
| | | |
| Yield to Maturity: | | 5.870% |
| | | |
| Price to Public: | | 99.912% |
| | | |
| Interest Payment Dates: | | Semi-annually on March 1 and September 1, |
| | | commencing on September 1, 2009 |
| | | |
| Record Dates: | | February 15 and August 15 |
| | | |
| Optional Redemption: | | Make-whole call at any time at Treasury plus |
| | | 50 basis points |
| | | |
| Change of Control Put: | | 101% of principal amount plus accrued interest |
| | | |
| Settlement Date: | | T+3; February 24, 2009 |
| | | |
| Expected Ratings: | | Moody’s: A3 |
| | | S&P: A- |
| | | |
| CUSIP: | | 833034 AF8 |
| | | |
| Active Book-Running Managers: | | Citigroup Global Markets Inc. |
| | | J.P. Morgan Securities Inc. |
| | | |
| Passive Book-Running Managers: | | Mizuho Securities USA Inc. |
| | | UBS Securities LLC |
| | | |
| Co-Managers: | | Barclays Capital Inc. |
| | | BBVA Securities Inc. |
| | | Credit Suisse Securities (USA) LLC |
| | | Fifth Third Securities, Inc. |
| | | RBC Capital Markets Corporation |
| | | Robert W. Baird & Co. Incorporated |
| | | SG Americas Securities, LLC |
| | | The Williams Capital Group, L.P. |
| | | U.S. Bancorp Investments, Inc. |
6.700% Notes due 2019
| | | |
| Issuer: | | Snap-on Incorporated |
| | | |
| Title: | | 6.700% Notes due 2019 |
| | | |
| Principal Amount: | | $200,000,000 |
| | | |
| Coupon: | | 6.700% |
| | | |
| Maturity Date: | | March 1, 2019 |
| | | |
| Treasury Benchmark: | | 2.750% due 02/15/2019 |
| | | |
| US Treasury Yield: | | 2.848% |
| | | |
| Spread to Treasury: | | Plus 387.5 basis points |
| | | |
| Yield to Maturity: | | 6.723% |
| | | |
| Price to Public: | | 99.832% |
| | | |
| Interest Payment Dates: | | Semi-annually on March 1 and September 1, |
| | | commencing on September 1, 2009 |
| | | |
| Record Dates: | | February 15 and August 15 |
| | | |
| Optional Redemption: | | Make-whole call at any time at Treasury plus |
| | | 50 basis points |
| | | |
| Change of Control Put: | | 101% of principal amount plus accrued interest |
| | | |
| Settlement Date: | | T+3; February 24, 2009 |
| | | |
| Expected Ratings: | | Moody’s: A3 |
| | | S&P: A- |
| | | |
| CUSIP: | | 833034 AG6 |
| | | |
| Active Book-Running Managers: | | Citigroup Global Markets Inc. |
| | | J.P. Morgan Securities Inc. |
| | | |
| Passive Book-Running Managers: | | Mizuho Securities USA Inc. |
| | | UBS Securities LLC |
| | | |
| Co-Managers: | | Barclays Capital Inc. |
| | | BBVA Securities Inc. |
| | | Credit Suisse Securities (USA) LLC |
| | | Fifth Third Securities, Inc. |
| | | RBC Capital Markets Corporation |
| | | Robert W. Baird & Co. Incorporated |
| | | SG Americas Securities, LLC |
| | | The Williams Capital Group, L.P. |
| | | U.S. Bancorp Investments, Inc. |
The security ratings above are not a recommendation to buy, sell or hold the securities offered hereby. The ratings may be subject to revision or withdrawal at any time by the assigning rating organization. Each of the security ratings above should be evaluated independently of any other security rating.
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 the other documents that 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 atwww.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 1-877-858-5407, J.P. Morgan Securities Inc. collect at 1-212-834-4533, Mizuho Securities USA Inc. toll-free at 1-800-221-8866 (ext. 3143) or UBS Securities LLC toll-free at 877-827-6444 (ext. 561-3884).
