Filed Pursuant to Rule 433 under the Securities Act of 1933
Registration No. 333-197577
Issuer Free Writing Prospectus, dated November 16, 2015
Lockheed Martin Corporation
Pricing Term Sheet
November 16, 2015
| 1.85% Notes due 2018 | 2.50% Notes due 2020 | 3.10% Notes due 2023 | 3.55% Notes due 2026 | 4.50% Notes due 2036 | 4.70% Notes due 2046 | |||||||
| Issuer: | Lockheed Martin Corporation | Lockheed Martin Corporation | Lockheed Martin Corporation | Lockheed Martin Corporation | Lockheed Martin Corporation | Lockheed Martin Corporation | ||||||
| Security Type: | Senior Unsecured | Senior Unsecured | Senior Unsecured | Senior Unsecured | Senior Unsecured | Senior Unsecured | ||||||
| Trade Date: | November 16, 2015 | November 16, 2015 | November 16, 2015 | November 16, 2015 | November 16, 2015 | November 16, 2015 | ||||||
| Settlement Date (T+5)**: |
November 23, 2015 | November 23, 2015 | November 23, 2015 | November 23, 2015 | November 23, 2015 | November 23, 2015 | ||||||
| Interest Payment Dates: | May 23 and November 23, beginning on May 23, 2016 | May 23 and November 23, beginning on May 23, 2016 | January 15 and July 15, beginning on July 15, 2016 | January 15 and July 15, beginning on July 15, 2016 | May 15 and November 15, beginning on May 15, 2016 | May 15 and November 15, beginning on May 15, 2016 | ||||||
| Expected Ratings*: | Baa1/BBB+/BBB+ | Baa1/BBB+/BBB+ | Baa1/BBB+/BBB+ | Baa1/BBB+/BBB+ | Baa1/BBB+/BBB+ | Baa1/BBB+/BBB+ | ||||||
| Size: | $750,000,000 | $1,250,000,000 | $500,000,000 | $2,000,000,000 | $500,000,000 | $2,000,000,000 | ||||||
| Maturity: | November 23, 2018 | November 23, 2020 | January 15, 2023 | January 15, 2026 | May 15, 2036 | May 15, 2046 | ||||||
| Coupon: | 1.85% per annum, accruing from November 23, 2015 | 2.50% per annum, accruing from November 23, 2015 | 3.10% per annum, accruing from November 23, 2015 | 3.55% per annum, accruing from November 23, 2015 | 4.50% per annum, accruing from November 23, 2015 | 4.70% per annum, accruing from November 23, 2015 | ||||||
| Price to Public: | 99.829% of face amount, plus accrued interest, if any, from November 23, 2015 | 99.641% of face amount, plus accrued interest, if any, from November 23, 2015 | 99.361% of face amount, plus accrued interest, if any, from November 23, 2015 | 99.228% of face amount, plus accrued interest, if any, from November 23, 2015 | 98.124% of face amount, plus accrued interest, if any, from November 23, 2015 | 98.519% of face amount, plus accrued interest, if any, from November 23, 2015 | ||||||
| Yield to Maturity: | 1.909% | 2.577% | 3.200% | 3.641% | 4.643% | 4.793% | ||||||
| Spread to Benchmark Treasury: | +72 basis points | +92 basis points | +117 basis points | +137 basis points | +157 basis points | +172 basis points | ||||||
| Benchmark Treasury: | 1.250% due November 15, 2018 |
1.375% due October 31, 2020 |
1.875% due October 31, 2022 |
2.250% due November 15, 2025 |
2.875% due August 15, 2045 |
2.875% due August 15, 2045 | ||||||
| Benchmark Treasury Price and Yield: | 100-053/4 / 1.189% | 98-211/4 / 1.657% | 99-00 / 2.030% | 99-26 / 2.271% | 96-05 / 3.073% | 96-05 / 3.073% | ||||||
| Optional Redemption: | Callable at any time at the greater of (a) 100% of the principal amount and (b) the make-whole price of T+15 basis points | Prior to October 23, 2020 (one month prior to the maturity date), callable at the greater of (a) 100% of the principal amount and (b) the make-whole price of T+15 basis points
Callable at par on or after October 23, 2020 |
Prior to November 15, 2022 (two months prior to the maturity date), callable at the greater of (a) 100% of the principal amount and (b) the make-whole price of T+20 basis points
Callable at par on or after November 15, 2022 |
Prior to October 15, 2025 (three months prior to the maturity date), callable at the greater of (a) 100% of the principal amount and (b) the make-whole price of T+20 basis points
Callable at par on or after October 15, 2025 |
Prior to November 15, 2035 (six months prior to the maturity date), callable at the greater of (a) 100% of the principal amount and (b) the make-whole price of T+25 basis points
Callable at par on or after November 15, 2035 |
Prior to November 15, 2045 (six months prior to the maturity date), callable at the greater of (a) 100% of the principal amount and (b) the make-whole price of T+30 basis points
Callable at par on or after November 15, 2045 | ||||||
| CUSIP #: | 539830 BJ7 | 539830 BF5 | 539830 BG3 | 539830 BH1 | 539830 BK4 | 539830 BL2 | ||||||
| ISIN #: | US539830BJ76 | US539830BF54 | US539830BG38 | US539830BH11 | US539830BK40 | US539830BL23 | ||||||
| Joint Book-Running Managers: | Citigroup Global Markets Inc. Goldman, Sachs & Co. J.P. Morgan Securities LLC Morgan Stanley & Co. LLC Credit Agricole Securities (USA) Inc. Merrill Lynch, Pierce, Fenner & Smith Incorporated Mizuho Securities USA Inc. Wells Fargo Securities, LLC | |||||||||||
| Joint Lead Managers: | Lloyds Securities Inc. U.S. Bancorp Investments, Inc. | |||||||||||
| Senior Co-Managers: | ANZ Securities, Inc. Barclays Capital Inc. RBC Capital Markets, LLC SMBC Nikko Securities America, Inc. TD Securities (USA) LLC UniCredit Capital Markets LLC | |||||||||||
| Co-Managers: | Academy Securities, Inc. Blaylock Beal Van LLC C.L. King & Associates, Inc. Drexel Hamilton, LLC Mischler Financial Group, Inc. Samuel A. Ramirez & Company, Inc. Siebert Brandford Shank & Co., L.L.C. The Williams Capital Group, L.P. | |||||||||||
| * | 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 expects that delivery of the notes will be made to investors on or about November 23, 2015, which will be the fifth business day following the date of this pricing term sheet (such settlement being referred to as “T+5”). Under Rule 15c6-1 under the Securities Exchange Act of 1934, as amended, trades in the secondary market are required to settle in three business days, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade notes on the date of the prospectus supplement or the next succeeding business day will be required, by virtue of the fact that the notes initially settle in T+5, 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 on the date of pricing or the next succeeding business day should consult their advisors. |
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 that are incorporated by reference in the prospectus 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, 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 1-800-831-9146, Goldman, Sachs & Co., toll free, at 1-866-471-2526, J.P. Morgan Securities LLC, collect, at 1-212-834-4533 or Morgan Stanley & Co. LLC, toll free, at 1-866-718-1649.
2
This pricing term sheet supplements the preliminary form of prospectus supplement issued by Lockheed Martin Corporation on November 16, 2015 relating to its prospectus dated July 23, 2014.
Any disclaimer or other notice that may appear below is not applicable to this communication and should be disregarded. Such disclaimer or notice was automatically generated as a result of this communication being sent by Bloomberg or another email system.
3