Filed Pursuant to Rule 433
RegistrationNo. 333-224608
May 18, 2020
PRICING TERM SHEET
RELX Capital Inc.
$750,000,000 3.000% Notes due 2030
Fully and unconditionally guaranteed by
RELX PLC
| Issuer: | RELX Capital Inc. | |
| Guarantor: | RELX PLC | |
| Title of Securities: | 3.000% Notes due 2030 (the “Notes”) | |
| Principal Amount Offered: | $750,000,000 | |
| Maturity Date: | May 22, 2030 | |
| Coupon (Interest Rate): | 3.000% per annum | |
| Interest Payment Dates: | Semi-annually on May 22 and November 22 of each year, beginning on November 22, 2020 | |
| Record Dates: | The 15th calendar day preceding each Interest Payment Date, whether or not such day is a Business Day | |
| Day Count Fraction: | 30/360 | |
| Price to Public (Issue Price): | 99.342% of principal amount, plus accrued interest from the expected settlement date | |
| Net Proceeds to the Issuer: | $741,690,000.00 (after underwriting discount and before other offering expenses) | |
| Benchmark Treasury: | 0.625% due May 15, 2030 | |
| Benchmark Treasury Price/Yield: | 99-00+ / 0.727% | |
| Spread to Benchmark Treasury: | +235 basis points | |
| Yield to Maturity: | 3.077% | |
| Make-Whole Call: | Make-whole call at the applicable Treasury Rate plus 40 basis points (before February 22, 2030 (the date that is three months prior to the Maturity Date)) | |
| Par Call: | At any time on or after February 22, 2030 (the date that is three months prior to the Maturity Date), the Notes will be redeemable in whole or in part at 100% of the principal amount of the Notes being redeemed, plus accrued interest on the principal amount being redeemed to the redemption date. | |
| Trade Date: | May 18, 2020 | |
| Expected Settlement Date (T+4)*: | May 22, 2020 | |
| ISIN: | US74949LAD47 | |
| CUSIP: | 74949L AD4 | |
| Listing / Trading: | Application will be made to the New York Stock Exchange for the Notes to be listed and traded thereon. There can be no assurance that any such application will be successful or that any such listing will be granted or maintained. | |
| Denominations / Multiple: | $1,000 / $1,000 | |
| Delivery: | DTC | |
| Ratings**: | Moody’s: Baa1 (stable); S&P: BBB+ (stable); Fitch: BBB+ (stable) | |
| Joint Book-Running Managers: | ABN AMRO Securities (USA) LLC HSBC Securities (USA) Inc. ING Financial Markets LLC UBS Securities LLC | |
*It is expected that delivery of the Notes will be made against payment therefore on or about May 22, 2020 , which is the fourth business day following the date hereof (such settlement cycle being referred to as “T+4”). Under Rule15c6-1 under the Securities Exchange Act of 1934, as amended, trades in the secondary market generally are required to settle in two business days unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the Notes on the date of pricing or the next business day will be required, by virtue of the fact that the Notes initially will settle in T+4, to specify an alternative settlement cycle at the time of any such trade to prevent failed settlement. Purchasers of the Notes who wish to trade the Notes on the date of pricing and the next business day should consult their own advisors.
**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) 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. Certain restrictions relating to the offering that are set forth in the prospectus apply to this document.
You may get these documents for free by visiting EDGAR on the SEC Web site 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 ABN AMRO Securities (USA) LLC at+1-201-406-6619, HSBC Securities (USA) Inc. at+1-866-811-8049, ING Financial Markets LLC at+1-646-424-6718 or UBS Securities LLC at+1-888-827-7275.
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