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Share Name | Share Symbol | Market | Type |
---|---|---|---|
HP Inc | NYSE:HPQ | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.05 | 0.18% | 28.18 | 28.39 | 27.96 | 28.13 | 5,356,233 | 01:00:00 |
Issuer:
|
HP Inc.
|
Title of Securities:
|
4.750% notes due 2028 (the “2028 Notes”)
|
Anticipated Ratings(1):
|
Baa2 (Moody’s)/ BBB (S&P)/ BBB+ (Fitch)
|
Trade Date:
|
June 6, 2022
|
Settlement Date
|
June 21, 2022 (T+10)
|
Maturity Date
|
January 15, 2028
|
Principal Amount:
|
$900,000,000
|
Interest Rate:
|
4.750% per annum
|
Benchmark
|
UST 2.625% due May 31, 2027
|
Benchmark Yield
|
3.032%
|
Spread to Benchmark
|
+175 Basis Points
|
Reoffer Yield
|
4.782%
|
Price to Public (Issue Price):
|
99.841%
|
Interest Payment Dates:
|
Semiannually; January 15 and July 15 of each year, commencing January 15, 2023 (subject to the following business day convention).
|
Method of Calculation:
|
30/360
|
Optional Redemption:
|
At any time prior to December 15, 2027 (one month prior to maturity), make-whole redemption at Treasury Rate plus 30 basis points. On or after December 15, 2027 (one month prior to
maturity), redemption at par.
|
Special Mandatory Redemption:
|
In the event that (x) the Poly Acquisition (as defined in the preliminary prospectus supplement dated June 6, 2022 (the “Preliminary Prospectus Supplement”)) is not consummated on or
prior to June 26, 2023 or (y) the Transaction Agreement (as defined in the Preliminary Prospectus Supplement) is terminated without the Poly Acquisition being consummated, the Issuer will be required to redeem all of the outstanding 2028
Notes at a redemption price equal to 101% of the aggregate principal amount thereof, plus accrued and unpaid interest, if any, to (but excluding) the redemption date.
|
CUSIP/ISIN Nos.:
|
40434L AM7 / US40434LAM72
|
Denominations
|
$2,000 X $1,000
|
Joint Book Running Managers:
|
Goldman Sachs & Co. LLC
J.P. Morgan Securities LLC
Wells Fargo Securities, LLC
BNP Paribas Securities Corp.
BofA Securities, Inc. HSBC Securities (USA) Inc. |
Co-Managers
|
Citigroup Global Markets Inc.
MUFG Securities Americas Inc. Santander Investment Securities Inc. U.S. Bancorp Investments, Inc. ING Financial Markets LLC SG Americas Securities, LLC Standard Chartered Bank Credit Agricole Securities (USA) Inc. Credit Suisse Securities (USA) LLC Loop Capital Markets LLC Academy Securities, Inc. Mischler Financial Group, Inc. Samuel A. Ramirez & Company, Inc. Siebert Williams Shank & Co., LLC |
(1) |
A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.
|
Issuer:
|
HP Inc.
|
Title of Securities:
|
5.500% notes due 2033 (the “2033 Notes”)
|
Anticipated Ratings(1)
|
Baa2 (Moody’s)/ BBB (S&P)/ BBB+ (Fitch)
|
Trade Date:
|
June 6, 2022
|
Settlement Date:
|
June 21, 2022 (T+10)
|
Maturity Date
|
January 15, 2033
|
Principal Amount:
|
$1,100,000,000
|
Interest Rate:
|
5.500% per annum
|
Benchmark
|
UST 2.875% due May 15, 2032
|
Benchmark Yield
|
3.034%
|
Spread to Benchmark
|
+250 Basis Points
|
Reoffer Yield
|
5.534%
|
Price to Public (Issue Price):
|
99.725%
|
Interest Payment Dates:
|
Semiannually; January 15 and July 15 of each year, commencing January 15, 2023 (subject to the following business day convention).
|
Method of Calculation:
|
30/360
|
Optional Redemption:
|
At any time prior to October 15, 2032 (three months prior to maturity), make-whole redemption at Treasury Rate plus 40 basis points. On or after October 15, 2032 (three months prior to
maturity), redemption at par.
|
Special Mandatory Redemption:
|
In the event that (x) the Poly Acquisition (as defined in Preliminary Prospectus Supplement) is not consummated on or prior to June 26, 2023 or (y) the Transaction Agreement (as defined
in the Preliminary Prospectus Supplement) is terminated without the Poly Acquisition being consummated, the Issuer will be required to redeem all of the outstanding 2033 Notes at a redemption price equal to 101% of the aggregate principal
amount thereof, plus accrued and unpaid interest, if any, to (but excluding) the redemption date.
|
CUSIP/ISIN Nos.:
|
40434L AN5 / US40434LAN55
|
Denominations
|
$2,000 X $1,000
|
Joint Book Running Managers:
|
Goldman Sachs & Co. LLC
J.P. Morgan Securities LLC
Wells Fargo Securities, LLC
BNP Paribas Securities Corp.
BofA Securities, Inc. HSBC Securities (USA) Inc. |
Co-Managers
|
Citigroup Global Markets Inc.
MUFG Securities Americas Inc. Santander Investment Securities Inc. U.S. Bancorp Investments, Inc. ING Financial Markets LLC SG Americas Securities, LLC Standard Chartered Bank Credit Agricole Securities (USA) Inc. Credit Suisse Securities (USA) LLC Loop Capital Markets LLC Academy Securities, Inc. Mischler Financial Group, Inc. Samuel A. Ramirez & Company, Inc. Siebert Williams Shank & Co., LLC |
(1) |
A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.
|
1 Year HP Chart |
1 Month HP Chart |
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