Free Writing Prospectus Filed Pursuant to Rule 433

Registration Statement No. 333-183989

January 6, 2014

 

FedEx Corporation

 

Final Term Sheet

 

$750,000,000 4.000% Notes due 2024

$500,000,000 4.900% Notes due 2034

$750,000,000 5.100% Notes due 2044

 

Issuer:

FedEx Corporation

 

 

Guarantors:

Federal Express Corporation

 

FedEx Ground Package System, Inc.

 

FedEx Freight Corporation

 

FedEx Freight, Inc.

 

FedEx Corporate Services, Inc.

 

FedEx TechConnect, Inc.

 

FedEx Office and Print Services, Inc.

 

Federal Express Europe, Inc.

 

Federal Express Holdings S.A.

 

Federal Express International, Inc.

 

 

Title of Securities:

$750,000,000 4.000% Notes due 2024 (the “Notes due 2024”)

 

$500,000,000 4.900% Notes due 2034 (the “Notes due 2034”)

 

$750,000,000 5.100% Notes due 2044 (the “Notes due 2044”)

 

 

Principal Amount:

Notes due 2024: $750,000,000

 

Notes due 2034: $500,000,000

 

Notes due 2044: $750,000,000

 

 

Expected Ratings (Moody’s / S&P)*:

Baa1 / BBB

 

 

Trade Date:

January 6, 2014

 

 

Settlement Date (T+3):

January 9, 2014

 

 

Maturity Date:

Notes due 2024: January 15, 2024

 

Notes due 2034: January 15, 2034

 

Notes due 2044: January 15, 2044

 

 

Interest Payment Dates:

Notes due 2024: Semi-annually on each January 15 and July 15, commencing July 15, 2014

 

 

 

Notes due 2034: Semi-annually on each January 15 and July 15, commencing July 15, 2014

 

 

 

Notes due 2044: Semi-annually on each January 15 and July 15, commencing July 15, 2014

 

 

Optional Redemption:

Notes due 2024: Make-whole call at T+15 basis points

 

Notes due 2034: Make-whole call at T+15 basis points

 

Notes due 2044: Make-whole call at T+20 basis points

 

 

Treasury Benchmark:

Notes due 2024: UST 2.750% due November 15, 2023

 

Notes due 2034: UST 3.625% due August 15, 2043

 

Notes due 2044: UST 3.625% due August 15, 2043

 

 

Benchmark Yield:

Notes due 2024: 2.971%

 

Notes due 2034: 3.911%

 

Notes due 2044: 3.911%

 


 

Spread to Benchmark:

Notes due 2024: 105 basis points

 

Notes due 2034: 100 basis points

 

Notes due 2044: 120 basis points

 

 

Reoffer Yield:

Notes due 2024: 4.021%

 

Notes due 2034: 4.911%

 

Notes due 2044: 5.111%

 

 

Coupon:

Notes due 2024: 4.000% per annum

 

Notes due 2034: 4.900% per annum

 

Notes due 2044: 5.100% per annum

 

 

Price to Public:

Notes due 2024: 99.828% of Principal Amount

 

Notes due 2034: 99.860% of Principal Amount

 

Notes due 2044: 99.831% of Principal Amount

 

 

CUSIP / ISIN:

Notes due 2024: 31428X AY2 / US31428XAY22

 

Notes due 2034: 31428X AX4 / US31428XAX49

 

Notes due 2044: 31428X AW6 / US31428XAW65

 

 

Joint Book-Running Managers:

J.P. Morgan Securities LLC

 

Goldman, Sachs & Co.

 

Morgan Stanley & Co. LLC

 

Citigroup Global Markets Inc.

 

Merrill Lynch, Pierce, Fenner & Smith

 

Incorporated

 

 

Co-Managers:

BNP Paribas Securities Corp.

 

Deutsche Bank Securities Inc.

 

Mizuho Securities USA Inc.

 

Regions Securities LLC

 

Scotia Capital (USA) Inc.

 

SunTrust Robinson Humphrey, Inc.

 

Wells Fargo Securities, LLC

 

BNY Mellon Capital Markets, LLC

 

Commerz Markets LLC

 

Fifth Third Securities, Inc.

 

FTN Financial Securities Corp

 

HSBC Securities (USA) Inc.

 

KBC Securities USA, Inc.

 

KeyBanc Capital Markets Inc.

 

Mitsubishi UFJ Securities (USA), Inc.

 

PNC Capital Markets LLC

 

Samuel A. Ramirez & Company, Inc.

 

Standard Chartered Bank

 

SMBC Nikko Securities America, Inc.

 

The Williams Capital Group, L.P.

 

U.S. Bancorp Investments, Inc.

 


 

This final term sheet supplements, and should be read in conjunction with, FedEx Corporation’s preliminary prospectus supplement dated January 6, 2014 and accompanying prospectus dated September 19, 2012 and the documents incorporated by reference therein.

 

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 contacting (i) J.P. Morgan Securities LLC collect at 1-212-834-4533, (ii) Goldman, Sachs & Co. toll-free at 1-866-471-2526 or by e-mailing prospectus-ny@ny.email.gs.com or (iii) Morgan Stanley & Co. LLC toll-free at 1-866-718-1649.

 

*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.