Obbligazione Activision Blizzard, Inc. 4.5% ( US00507VAN91 ) in USD

Activision Blizzard, Inc.

73.21 USD ⇌

Stati Uniti

US00507VAN91 ( in USD )

4.5% per anno ( pagato 2 volte l'anno)

14/06/2047

Prospetto opuscolo dell'obbligazione Activision Blizzard Inc US00507VAN91 en USD 4.5%, scadenza 14/06/2047

1 000 USD

400 000 000 USD

00507VAN9

A- ( Upper medium grade - Investment-grade )

Baa1 ( Lower medium grade - Investment-grade )

15/12/2025 ( In 42 giorni )

Activision Blizzard Inc. è una società multinazionale americana che sviluppa e pubblica videogiochi, con marchi importanti come Call of Duty, World of Warcraft e Candy Crush.

The Obbligazione issued by Activision Blizzard, Inc. ( United States ) , in USD, with the ISIN code US00507VAN91, pays a coupon of 4.5% per year.
The coupons are paid 2 times per year and the Obbligazione maturity is 14/06/2047

The Obbligazione issued by Activision Blizzard, Inc. ( United States ) , in USD, with the ISIN code US00507VAN91, was rated Baa1 ( Lower medium grade - Investment-grade ) by Moody's credit rating agency.

The Obbligazione issued by Activision Blizzard, Inc. ( United States ) , in USD, with the ISIN code US00507VAN91, was rated A- ( Upper medium grade - Investment-grade ) by Standard & Poor's ( S&P ) credit rating agency.

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FWP 1 a17-13961_4fwp.htm FWP
Filed Pursuant to Rule 433
Issuer Free Writing Prospectus, dated May 23, 2017
Supplementing the Preliminary Prospectus Supplement, dated May 23, 2017
Registration Statement No. 333-213520
$400,000,000 2.600% Senior Notes due 2022
$400,000,000 3.400% Senior Notes due 2027
$400,000,000 4.500% Senior Notes due 2047
Term Sheet dated May 23, 2017
of Activision Blizzard, Inc.
This Term Sheet is qualified in its entirety by reference to the Preliminary Prospectus Supplement dated May 23, 2017 (as
supplemented through and including the date hereof, the "Preliminary Prospectus Supplement"). Capitalized terms used but not
defined in this Term Sheet have the meanings ascribed to them in the Preliminary Prospectus Supplement. The information in
this Term Sheet supplements the Preliminary Prospectus Supplement and updates and supersedes the information in the
Preliminary Prospectus Supplement to the extent it is inconsistent with the information in the Preliminary Prospectus
Supplement.
Issuer:
Activision Blizzard, Inc.
Title of Securities:
2.600% Senior Notes due 2022 (the "2022 Notes")
3.400% Senior Notes due 2027 (the "2027 Notes")
4.500% Senior Notes due 2047 (the "2047 Notes")
Ratings*:
Moody's: Baa2 (stable)
S&P: BBB (stable)
Trade Date:
May 23, 2017
Settlement Date:
May 26, 2017 (T+3)
Principal Amount:
2022 Notes: $400,000,000
2027 Notes: $400,000,000
2047 Notes: $400,000,000
Final Maturity Date:
2022 Notes: June 15, 2022
2027 Notes: June 15, 2027
2047 Notes: June 15, 2047
Benchmark Treasury:
2022 Notes: UST 1.875% due April 30, 2022
2027 Notes: UST 2.375% due May 15, 2027
2047 Notes: UST 3.000% due February 15, 2047
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Benchmark Treasury Price and Yield:
2022 Notes: 100-08¼; 1.820%
2027 Notes: 100-28+; 2.275%
2047 Notes: 101-06+; 2.939%
Spread to Benchmark Treasury:
2022 Notes: +85 bps
2027 Notes: +120 bps
2047 Notes: +165 bps
Issue Price:
2022 Notes: 99.670%, plus accrued interest from May 26, 2017, if any
2027 Notes: 99.367%, plus accrued interest from May 26, 2017, if any
2047 Notes: 98.554%, plus accrued interest from May 26, 2017, if any
Coupon:
2022 Notes: 2.600% per annum
2027 Notes: 3.400% per annum
2047 Notes: 4.500% per annum
Interest Payment Dates:
2022 Notes: June 15 and December 15
2027 Notes: June 15 and December 15
2047 Notes: June 15 and December 15
Record Dates:
2022 Notes: June 1 and December 1
2027 Notes: June 1 and December 1
2047 Notes: June 1 and December 1
First Interest Payment Date:
2022 Notes: December 15, 2017
2027 Notes: December 15, 2017
2047 Notes: December 15, 2017
Make-whole Call:
2022 Notes: Prior to May 15, 2022 (one month prior to the maturity date of the
2022 Notes), at greater of par and make-whole at discount rate of Treasury Rate
plus 15 basis points
2027 Notes: Prior to March 15, 2027 (three months prior to the maturity date of
the 2027 Notes), at greater of par and make-whole at discount rate of Treasury
Rate plus 20 basis points
2047 Notes: Prior to December 15, 2046 (six months prior to the maturity date of
the 2047 Notes), at greater of par and make-whole at discount rate of Treasury
Rate plus 25 basis points
Par Call:
2022 Notes: At any time on or after May 15, 2022 (one month prior to the
maturity date of the 2022 Notes)
2027 Notes: At any time on or after March 15, 2027 (three months prior to the
maturity date of the 2027 Notes)
2047 Notes: At any time on or after December 15, 2046 (six months prior to the
maturity date of the 2047 Notes)
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Change of Control:
Putable at 101% of principal, plus accrued and unpaid interest thereon, if any, to
but excluding the date of purchase.
CUSIP:
2022 Notes: 00507V AL3
2027 Notes: 00507V AM1
2047 Notes: 00507V AN9
ISIN:
2022 Notes: US00507VAL36
2027 Notes: US00507VAM19
2047 Notes: US00507VAN91
Joint Book-Running Managers:
Merrill Lynch, Pierce, Fenner & Smith
Incorporated
J.P. Morgan Securities LLC
Wells Fargo Securities, LLC
Mizuho Securities USA Inc.
MUFG Securities Americas Inc.
SunTrust Robinson Humphrey, Inc.
Co-Managers:
BMO Capital Markets Corp.
Citigroup Global Markets Inc.
Goldman Sachs & Co. LLC
U.S. Bancorp Investments Inc.
Barclays Capital Inc.
PNC Capital Markets LLC
Academy Securities, Inc.
Other Changes to the Preliminary
The following language is added to the Risk Factor titled "Our variable rate
Prospectus Supplement:
indebtedness subjects us to interest rate risk, which could cause our debt service
obligations to increase" found on page S-10 of the Preliminary Prospectus
Supplement.
"As of March 31, 2017, after giving effect to this offering and the use of proceeds
therefrom, our consolidated indebtedness would have been approximately $4.4
billion, and approximately 22% of our total debt would have been at variable rates
of interest. For every 1.0% increase or decrease in the interest rate on our variable
interest rate debt, our estimated annual cash interest expense is expected to change
by approximately $9.9 million."
Corresponding changes will be made to similar language elsewhere in the
Preliminary Prospectus Supplement.
*A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal
at any time.
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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, the
Preliminary Prospectus Supplement 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 Preliminary Prospectus Supplement if you request it by calling any of the Joint Book-Running
Managers at the numbers below:
Merrill Lynch, Pierce, Fenner & Smith
Incorporated:
(800) 294-1322
J.P. Morgan Securities LLC:
(212) 834-4533
Wells Fargo Securities, LLC:
(800) 645-3751
Any disclaimers or other notices that may appear below are not applicable to this communication and should be
disregarded. Such disclaimers or other notices were automatically generated as a result of this communication being
sent via Bloomberg email or another communication system.
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