Filed pursuant to Rule 433
Issuer Free Writing Prospectus, dated April 27, 2026
Supplementing the Preliminary Prospectus Supplement, dated April 27, 2026
Registration No. 333-295336
HCA Inc.
$1,000,000,000 4.700% Senior Notes due 2031 (the “2031 notes”)
$750,000,000 5.000% Senior Notes due 2033 (the “2033 notes”)
$1,250,000,000 5.300% Senior Notes due 2036 (the “2036 notes”)
(collectively, the “notes”)
Pricing Supplement
Pricing Supplement dated April 27, 2026 to HCA Inc.’s Preliminary Prospectus Supplement dated April 27, 2026. This Pricing Supplement is qualified in its entirety by reference to the Preliminary Prospectus Supplement. The information in this Pricing Supplement supplements the Preliminary Prospectus Supplement and supersedes the information in the Preliminary Prospectus Supplement to the extent it is inconsistent with the information in the Preliminary Prospectus Supplement. Financial information presented in the Preliminary Prospectus Supplement is deemed to have changed to the extent affected by changes described herein. Capitalized terms used in this Pricing Supplement but not defined have the meanings given them in the Preliminary Prospectus Supplement.
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Terms Applicable to the 2031 notes |
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Issuer |
HCA Inc. |
Aggregate Principal Amount |
$1,000,000,000 |
Title of Security |
4.700% Senior Notes due 2031 |
Maturity Date |
May 15, 2031 |
Spread to Treasury |
+78 basis points |
Benchmark Treasury |
UST 3.875% due March 31, 2031 |
Benchmark Treasury Price & Yield |
99-21 / 3.952% |
Coupon |
4.700% |
Public Offering Price |
99.856% of the principal amount plus accrued interest, if any, from April 30, 2026 |
Yield to Maturity |
4.732% |
Interest Payment Dates |
May 15 and November 15 of each year, beginning on November 15, 2026 |
Record Dates |
May 1 and November 1 of each year; provided that for so long as the Notes are held by DTC, the record date for the Notes will be the close of business on the Business Day preceding the applicable Interest Payment Date. |
Net Proceeds to Issuer before Expenses |
$995,060,000 |
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Credit Agricole Securities (USA) Inc. Fifth Third Securities, Inc. Goldman Sachs & Co. LLC Mizuho Securities USA LLC Morgan Stanley & Co. LLC PNC Capital Markets LLC RBC Capital Markets, LLC SMBC Nikko Securities America, Inc. Truist Securities, Inc. Wells Fargo Securities, LLC |
Co-Managers |
BBVA Securities Inc. CIBC World Markets Corp. DNB Carnegie, Inc. Huntington Securities, Inc. NatWest Markets Securities Inc. Regions Securities LLC Scotia Capital (USA) Inc. TD Securities (USA) LLC |
Settlement Date |
April 30, 2026 (T+3) We expect that delivery of the notes will be made to investors on or about April 30, 2026, which will be the third business day following the date of this pricing term sheet (such settlement being referred to as “T+3”). Under Rule 15c6-1 under the Exchange Act, trades in the secondary market are required to settle in one business day, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade notes more than one business day prior to the delivery of the notes hereunder will be required, by virtue of the fact that the notes initially settle in T+3, to specify an alternate settlement arrangement at the time of any such trade to prevent a failed settlement. Purchasers of the notes who wish to trade the notes prior to their date of delivery hereunder should consult their advisors. |
The Issuer has filed a registration statement (including a prospectus and a related preliminary prospectus supplement) with the United States Securities and Exchange Commission (“SEC”) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement, the preliminary prospectus supplement and other documents HCA Healthcare, Inc. 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 at www.sec.gov. Alternatively, copies of the preliminary prospectus supplement and accompanying prospectus may be obtained from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-800-831-9146 or email: prospectus@citi.com, to Barclays Capital Inc., 745 Seventh Avenue, New York, NY 10019, Attention: Syndicate Registration, fax no.: 1-646-834-8133, to BofA Securities, Inc., NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, Attn: Prospectus Department, email: dg.prospectus_requests@bofa.com, telephone: 1-800-294-1322, and to J.P. Morgan Securities LLC, 270 Park Avenue, New York, NY 10017, Attention: Investment Grade Syndicate Desk, 3rd Floor, telephone: 1-212-834-4533.
This communication should be read in conjunction with the preliminary prospectus supplement and the accompanying prospectus. The information in this communication supersedes the information in the preliminary prospectus supplement and the accompanying prospectus to the extent inconsistent with the information in such preliminary prospectus supplement and the accompanying prospectus.
ANY DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR BELOW ARE NOT APPLICABLE TO THIS COMMUNICATION AND SHOULD BE DISREGARDED. SUCH DISCLAIMERS OR OTHER NOTICES WERE AUTOMATICALLY GENERATED AS A RESULT OF THIS COMMUNICATION BEING SENT VIA BLOOMBERG OR ANOTHER EMAIL SYSTEM.