Filed Pursuant to Rule 433
Registration Statement No. 333-270834

Final Term Sheet

November 12, 2024

Otis Worldwide Corporation

$600,000,000 5.125% Notes due 2031

Issuer:
Otis Worldwide Corporation
Offering Format:
SEC Registered
Title of Securities:
5.125% Notes due 2031 (the “Notes”)
Trade Date:
November 12, 2024
Settlement Date*:
November 19, 2024 (T+5)
Expected Ratings (Moody’s / S&P)**:
Baa1 / BBB
Principal Amount:
$600,000,000
Maturity Date:
November 19, 2031
Interest Payment Dates:
May 19 and November 19 of each year, beginning on May 19, 2025
Benchmark Treasury:
4.125% UST due October 31, 2031
Benchmark Treasury Price/Yield:
98-161/8 / 4.376%
Spread to Benchmark Treasury:
+75 basis points
Yield to Maturity:
5.126%
Price to Public:
99.994% of the principal amount
Coupon:
5.125%
Day Count Convention:
30/360
Underwriting Discount:
0.625%
Make-Whole Call:
At any time and from time to time, prior to September 19, 2031, Treasury Rate plus 15 basis points
Par Call:
On or after September 19, 2031 (two months prior to the maturity date of the Notes)
Change of Control Offer:
101%

Minimum Denominations:
$2,000 x $1,000
Net Proceeds (before expenses):
$596,214,000
Joint Book-Running Managers:
 
 
 
 
 
HSBC Securities (USA) Inc.
J.P. Morgan Securities LLC
Morgan Stanley & Co. LLC
SMBC Nikko Securities America, Inc.
BofA Securities, Inc.
Citigroup Global Markets Inc.
Goldman Sachs & Co. LLC
Senior Co-Managers:
Barclays Capital Inc.
BNP Paribas Securities Corp.
Commerz Markets LLC
Deutsche Bank Securities Inc.
Intesa Sanpaolo IMI Securities Corp.
Loop Capital Markets LLC
Santander US Capital Markets LLC
SG Americas Securities, LLC
UniCredit Capital Markets LLC
 
Co-Managers:
Academy Securities, Inc.
ICBC Standard Bank Plc
Westpac Capital Markets LLC
 
CUSIP / ISIN:
68902VAR8 / US68902VAR87

* Settlement Period: The closing will occur on November 19, 2024, which will be more than one business day after the date of this pricing term sheet. Rule 15c6-1 under the Securities Exchange Act of 1934 generally requires that securities trades in the secondary market settle in one business day, unless the parties to a trade expressly agree otherwise.

** 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 has filed a Registration Statement (File No. 333-270834), including a prospectus dated March 24, 2023 and a preliminary prospectus supplement dated November 12, 2024, with the U.S. Securities and Exchange Commission (the “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 for the offering to which this communication relates and other documents the Issuer has filed with the SEC for more complete information about the Issuer and this offering. You may get these documents for free by visiting the SEC’s website at www.sec.gov. Alternatively, 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: HSBC Securities (USA) Inc. at 1-866-811- 8049; J.P. Morgan Securities LLC at 1-212-834-4533; Morgan Stanley & Co. LLC at 1-866-718-1649 or SMBC Nikko Securities America, Inc. at 1-888-868-6856. You are advised to obtain a copy of the prospectus and related prospectus supplement for the offering to which this communication relates and to carefully review the information contained or incorporated by reference therein before making any investment decision.

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.

Grafico Azioni Otis Worldwide (NYSE:OTIS)
Storico
Da Gen 2025 a Feb 2025 Clicca qui per i Grafici di Otis Worldwide
Grafico Azioni Otis Worldwide (NYSE:OTIS)
Storico
Da Feb 2024 a Feb 2025 Clicca qui per i Grafici di Otis Worldwide