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Loews Corporation
$500,000,000
3.200% Senior Notes due 2030
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Issuer:
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Loews Corporation
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Offering Format:
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SEC registered
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Securities:
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3.200% Senior Notes due 2030
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Security Type:
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Senior unsecured fixed rate notes
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Ratings (Moody’s/S&P/Fitch):*
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A3 / A / A
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Trade Date:
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May 6, 2020
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Settlement Date:
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May 8, 2020 (T+2)
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Maturity Date:
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May 15, 2030
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Interest Payment Dates:
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May 15 and November 15, commencing November 15, 2020
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Principal Amount:
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$500,000,000
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Treasury Benchmark:
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1.500% due February 15, 2030
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Treasury Benchmark Yield:
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0.713%
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Spread to Treasury Benchmark:
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+250 bps
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Yield to Maturity:
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3.213%
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Coupon:
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3.200%
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Price to Public:
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99.889%
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Make-Whole Call:
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Make-whole redemption at any time prior to February 15, 2030 at a discount rate of U.S. Treasury + 40 bps.
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Par Call:
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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.
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CUSIP / ISIN:
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540424AT5 / US540424AT59
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Denomination:
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$2,000 and integral multiples of $1,000 in excess thereof
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Joint Book-Running Managers:
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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.
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Co-Managers:
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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 |