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Crane NXT, Co. — Capital/Financing Update 2018
Feb 1, 2018
31213_rns_2018-02-01_fb9f28a1-8e34-47d5-924b-466e7aebb30a.zip
Capital/Financing Update
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FWP 1 s002035x3_fwp.htm FWP Licensed to: Broadridge Financial Solutions Document created using EDGARfilings PROfile 4.3.3.1 Copyright 1995 - 2018 Summit Financial Printing, LLC. All rights reserved.
Filed Pursuant to Rule 433
Registration Statement No. 333-222781
Pricing Term Sheet
Crane Co.
4.200% Senior Notes due 2048
Pricing Term Sheet
| Issuer: | Crane Co. |
|---|---|
| Trade Date: | February 1, 2018 |
| Settlement Date: | February 5, 2018 (T+2) |
| Ratings (Moody’s / S&P)*: | Baa2 / BBB |
| Principal Amount: | $ 350,000,000 |
| Maturity: | March 15, 2048 |
| Coupon (Interest Rate): | 4.200 %, accruing from February 5, 2018 |
| Public Offering Price: | 99.994 % of the principal amount |
| Yield to Maturity: | 4.200 % |
| Spread to Benchmark Treasury: | + 120 basis points |
| Benchmark Treasury: | 2.750 % due August 15, 2047 |
| Benchmark Treasury Price / Yield: | 95-04 / 3.000% |
| Interest Payment Dates: | March 15 and September 15 , commencing September 15 , 2018 |
| Optional Redemption: | |
| Make-Whole Call: | Prior to September 15, 2047, Treasury Rate plus 20 basis points |
| Par Call: | On or after September 15, 2047, at par |
| CUSIP / ISIN: | 224399 AT2 / US224399AT28 |
| Joint Book-Running Managers: | Wells Fargo Securities, LLC J.P. Morgan Securities LLC |
| Co-Managers: | BMO Capital Markets Corp. HSBC Securities (USA) Inc. TD Securities (USA) LLC U.S. Bancorp Investments, Inc. Commerz Markets LLC RBS Securities Inc. |
*Note: A securities rating is not a recommendation to buy, sell or hold securities and may be revised or withdrawn at any time.
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 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 (203) 363-7300 or by writing to the following address: Crane Co., 100 First Stamford Place, Stamford, CT 06902, Attention: Corporate Secretary, or by contacting Wells Fargo Securities, LLC toll-free at (800) 645-3751 or by emailing a request to [email protected] or by contacting J.P. Morgan Securities LLC collect at (212) 834-4533 .