Issuer Free Writing Prospectus
Filed Pursuant to Rule 433
Relating to Preliminary Prospectus Supplement dated February 5, 2015
to Prospectus Dated November 28, 2012
Registration Statement No. 333-185166
COSTCO WHOLESALE CORPORATION
PRICING TERM SHEET
February 5, 2015
|
|
|
5-Year Tranche |
|
7-Year Tranche |
|
Issuer: |
|
Costco Wholesale Corporation |
|
Costco Wholesale Corporation |
|
|
|
|
|
|
|
Aggregate Principal Amount: |
|
$500,000,000 |
|
$500,000,000 |
|
|
|
|
|
|
|
Trade Date: |
|
February 5, 2015 |
|
February 5, 2015 |
|
|
|
|
|
|
|
Settlement Date: |
|
February 17, 2015 (T+7) |
|
February 17, 2015 (T+7) |
|
|
|
|
|
|
|
Maturity Date: |
|
February 15, 2020 |
|
February 15, 2022 |
|
|
|
|
|
|
|
Interest Payment Dates: |
|
February 15 and August 15, beginning August 15, 2015 |
|
February 15 and August 15, beginning August 15, 2015 |
|
|
|
|
|
|
|
Coupon (Interest Rate): |
|
1.750% |
|
2.250% |
|
|
|
|
|
|
|
Price to Public: |
|
99.895% |
|
99.704% |
|
|
|
|
|
|
|
Net Proceeds to Issuer (before expenses): |
|
$497,725,000 |
|
$496,520,000 |
|
|
|
|
|
|
|
Benchmark Treasury: |
|
1.250% U.S. Treasury due January 31, 2020 |
|
1.500% U.S. Treasury due January 31, 2022 |
|
|
|
|
|
|
|
Benchmark Treasury Price / Yield: |
|
99-24 / 1.302% |
|
99-5+ / 1.626% |
|
|
|
|
|
|
|
Spread to Benchmark Treasury: |
|
U.S. Treasury + 47 bps |
|
U.S. Treasury + 67 bps |
|
|
|
|
|
|
|
Yield to Maturity: |
|
1.772% |
|
2.296% |
|
|
|
|
|
|
|
Optional Redemption: |
|
Callable at any time at a make-whole price of comparable maturity U.S. Treasury + 10 bps |
|
Callable at any time at a make-whole price of comparable maturity U.S. Treasury + 12.5 bps |
|
|
|
|
|
|
|
CUSIP / ISIN: |
|
22160K AG0 / US22160KAG04 |
|
22160K AH8 / US22160KAH86 |
|
|
|
|
|
|
|
Joint Book-Running Managers: |
|
J.P. Morgan Securities LLC Guggenheim Securities, LLC Wells Fargo Securities, LLC U.S. Bancorp Investments, Inc. |
|
|
The Issuer has filed a registration statement including a prospectus and a prospectus supplement with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus and prospectus supplement in that registration statement and other documents the Issuer has filed with the SEC for more complete information about the Issuer and this offering. You may obtain 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 and the prospectus supplement if you request them by calling J.P. Morgan Securities LLC at 1-212-834-4533, Guggenheim Securities, LLC at 1-212-739-0700, Wells Fargo Securities, LLC at 1-800-645-3751 and U.S. Bancorp Investments, Inc. at 1-877-558-2607.
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.