Issuer Free Writing Prospectus filed pursuant to Rule 433

supplementing the Preliminary Prospectus Supplement

dated April 27, 2023

Registration No. 333-268289

April 27, 2023

 

LOGO

Summary of Final Terms and Details of the Issue

$750,000,000 4.900% Senior Notes due 2033

 

Issuer:    Constellation Brands, Inc.
Principal Amount:    $750,000,000 aggregate principal amount.
Title of Securities:    4.900% Senior Notes due 2033 (the “2033 notes”).
Final Maturity Date:    May 1, 2033.
Public Offering Price:    99.306% of principal amount plus accrued interest, if any, from and including May 1, 2023.
Coupon:    4.900% per annum.
Interest Payment Dates:    May 1 and November 1.
Record Dates:    April 15 and October 15.
First Interest Payment Date:    November 1, 2023.
Benchmark UST:    3.500% UST due February 15, 2033.
Benchmark UST Price & Yield:    99-27 / 3.519%.
Spread to Benchmark UST:    147 basis points.
Yield to Maturity:    4.989%.

Optional Redemption:   

Prior to February 1, 2033 (three months prior to the maturity date of the 2033 notes) (the “Par Call Date”), the Company may redeem the 2033 notes at its option, in whole or in part, at any time and from time to time, at a redemption price (expressed as a percentage of principal amount and rounded to three decimal places) equal to the greater of:

 

(1)   (a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the redemption date (assuming the 2033 notes matured on the Par Call Date) on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 25 basis points less (b) interest accrued to the date of redemption, and

 

(2)   100% of the principal amount of the 2033 notes to be redeemed,

 

plus, in either case, accrued and unpaid interest thereon to the redemption date.

 

On or after the Par Call Date, the Company may redeem the 2033 notes, in whole or in part, at any time and from time to time, at a redemption price equal to 100% of the principal amount of the 2033 notes being redeemed plus accrued and unpaid interest thereon to the redemption date.

Mandatory Offer to Redeem Upon Change of Control Triggering Event:    If the Company experiences a change of control triggering event, the Company must offer to repurchase the 2033 notes at 101% of their principal amount, plus accrued and unpaid interest, if any, to, but excluding, the repurchase date.
Trade Date:    April 27, 2023.
Settlement Date:    May 1, 2023, which will be the second business day following the date of pricing of the 2033 notes (T+2).
Distribution:    SEC Registered.
CUSIP/ISIN Numbers:    CUSIP: 21036P BP2 ISIN: US21036PBP27

 

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Joint Bookrunners:   

BofA Securities, Inc.
Goldman Sachs & Co. LLC

J.P. Morgan Securities LLC

Wells Fargo Securities, LLC

BBVA Securities Inc.

TD Securities (USA) LLC

MUFG Securities Americas Inc.

Co-Managers:   

BMO Capital Markets Corp.

BNP Paribas Securities Corp.

M&T Securities, Inc.

PNC Capital Markets LLC

Scotia Capital (USA) Inc.

Siebert Williams Shank & Co., LLC

Academy Securities, Inc.

Fifth Third Securities, Inc.

Rabo Securities USA, Inc.

Truist Securities, Inc.

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 that 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 or any Joint Bookrunner will arrange to send you the prospectus, at no cost, if you request it by calling, as applicable, (i) the issuer’s Secretary at 1-585-678-7100, (ii) BofA Securities, Inc. at (800) 294-1322 (toll free), (iii) Goldman Sachs & Co. LLC at (866) 471-2526 (toll free), (iv) J.P. Morgan Securities LLC at (212) 834-4533 (collect) or (v) Wells Fargo Securities, LLC at (800) 645-3751 (toll free).

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.

 

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