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GATX CORP — Capital/Financing Update 2019
Jan 29, 2019
30891_rns_2019-01-29_322954b5-a193-4e17-bafc-c2ba8e7e7144.zip
Capital/Financing Update
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FWP 1 d648513dfwp.htm FWP FWP
Pursuant to Rule 433
Registration No. 333-213160
January 29, 2019
GATX Corporation
PRICING TERM SHEET
January 29, 2019
| Issuer: | GATX Corporation |
|---|---|
| Pricing Date: | January 29, 2019 |
| Expected Settlement Date: | January 31, 2019 (T+2) |
| Expected Ratings*: | Moodys: Baa2 (Stable) / S&P: BBB (Stable) |
| Security: | 4.700% Senior Notes due 2029 |
| Size: | $500,000,000 |
| Maturity Date: | April 1, 2029 |
| Coupon: | 4.700% |
| Interest Payment Dates: | April 1 and October 1, commencing October 1, 2019 |
| Benchmark Treasury: | UST 3.125% due November 15, 2028 |
| Benchmark Treasury Price and Yield: | 103-15; 2.719% |
| Spread to Benchmark Treasury: | +200 basis points |
| Yield to Maturity: | 4.719% |
| Price to Investors: | 99.836% |
| Redemption: | At any time prior to January 1, 2029, at a make-whole price equal to the greater of (a) 100% of the principal amount or (b) discounted present value at Treasury rate plus 30 basis points; and on or after January 1, |
| 2029, at 100% of the principal; plus, in each case, accrued interest to but excluding the redemption date | |
| CUSIP/ISIN: | 361448 BE2 / US361448BE25 |
| Joint Book-Running Managers: | Citigroup Global Markets Inc. Merrill Lynch, |
| Pierce, Fenner & Smith Incorporated Morgan Stanley & Co. LLC | |
| Senior Co-Managers: | PNC Capital Markets LLC U.S. Bancorp |
| Investments, Inc. | |
| Co-Managers: | BMO Capital Markets Corp. KeyBanc Capital |
| Markets Inc. Loop Capital Markets LLC Mizuho Securities USA | |
| LLC The Williams Capital Group, L.P. MUFG Securities Americas | |
| Inc. | |
| Other Events: | On January 25, 2019, the Board of Directors of the Issuer declared a quarterly dividend of $0.46 per common share, payable |
| March 31, 2019, to shareholders of record on March 4, 2019, which represents a 4.5% increase from the prior years dividend. In addition, the Board of Directors of the Issuer elected to terminate the Issuers existing share repurchase program and authorized a new share | |
| repurchase program under which the Issuer may repurchase, from time to time, up to a maximum of $300.0 million of the Issuers common shares. |
*Note: A securities rating is not a recommendation to buy, sell or hold securities any may be subject to revision or withdrawal 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 Citigroup Global Markets Inc. toll-free at 1-800-831-9146, Merrill Lynch, Pierce, Fenner & Smith Incorporated toll-free at 1-800-294-1322 or Morgan Stanley & Co. LLC at 1-866-718-1649.