Bond PitneyBowes Inc. 4.625% ( US724479AJ97 ) in USD

Issuer PitneyBowes Inc.
Market price 100 %  ▲ 
Country  United States
ISIN code  US724479AJ97 ( in USD )
Interest rate 4.625% per year ( payment 2 times a year)
Maturity 14/03/2024 - Bond has expired



Prospectus brochure of the bond Pitney-Bowes Inc US724479AJ97 in USD 4.625%, expired


Minimal amount 2 000 USD
Total amount 500 000 000 USD
Cusip 724479AJ9
Standard & Poor's ( S&P ) rating BB- ( Non-investment grade speculative )
Moody's rating B1 ( Highly speculative )
Detailed description Pitney Bowes Inc. is a global technology company providing shipping and mailing solutions, including postage meters, mailing equipment, and software, primarily serving businesses of all sizes.

The Bond issued by PitneyBowes Inc. ( United States ) , in USD, with the ISIN code US724479AJ97, pays a coupon of 4.625% per year.
The coupons are paid 2 times per year and the Bond maturity is 14/03/2024

The Bond issued by PitneyBowes Inc. ( United States ) , in USD, with the ISIN code US724479AJ97, was rated B1 ( Highly speculative ) by Moody's credit rating agency.

The Bond issued by PitneyBowes Inc. ( United States ) , in USD, with the ISIN code US724479AJ97, was rated BB- ( Non-investment grade speculative ) by Standard & Poor's ( S&P ) credit rating agency.







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424B5 1 c76707_424b5.htm FINAL PROSPECTUS SUPPLEMENT
Filed Pursuant to Rule 424(b)(5)
Registration No. 333-176957
CALCULATION OF REGISTRATION FEE
Title of each class of
Amount of
securities to be registered
Amount to be registered
registration fee
4.625% Notes Due 2024
$500,000,000
$64,400

(1) The filing fee is calculated in accordance with Rule 457(r) of the Securities Act of 1933.

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Prospectus Supplement
(To Prospectus Dated September 22, 2011)
$500,000,000
4.625% Notes Due 2024
Pitney Bowes is offering $500,000,000 aggregate principal amount of its 4.625% Notes due 2024. Pitney Bowes
will pay interest on the notes at a rate equal to 4.625% per year and will pay such interest semi-annually on March 15
and September 15 of each year, commencing September 15, 2014. The notes mature on March 15, 2024.
Pitney Bowes may redeem some or all of the notes at any time or from time to time at a redemption price equal to
100% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest, if any, on those notes to the
redemption date, plus a make-whole amount, if any, as described under "Description of the Notes--Optional
Redemption." Notwithstanding the immediately preceding sentence, Pitney Bowes may redeem some or all of the notes
at any time or from time to time on or after December 15, 2023 (three months prior to their maturity) at a redemption
price equal to 100% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest, if any, on
those notes to the redemption date. If a change of control triggering event occurs, unless we have exercised our option to
redeem the notes, we will be required, subject to certain exceptions, to make an offer to each holder of notes to
repurchase all or any part of that holder's notes for cash equal to 101% of the principal amount of the notes to be
repurchased, plus accrued and unpaid interest, if any, on those notes to the repurchase date.
There is no sinking fund for the notes. The notes will be issued only in minimum denominations of $2,000 or an
integral multiple of $1,000 in excess thereof. The notes will not be listed on any securities exchange.
The notes are our unsecured debt obligations and will rank equally with our other unsecured and unsubordinated
debt from time to time outstanding.
Investing in the notes involves risks. See "Risk Factors" beginning on page S-6 of this prospectus
supplement and in our Annual Report on Form 10-K for the year ended December 31, 2013, incorporated by
reference into this prospectus supplement and the accompanying prospectus.





Per Note
Total



Public Offering Price
99.155 %
$ 495,775,000






Underwriting Discount
0.650 %
$
3,250,000






Proceeds to Pitney Bowes (before expenses)
98.505 %
$ 492,525,000






Interest on the notes will accrue from March 13, 2014 if settlement occurs after that date.
Neither the Securities and Exchange Commission nor any state securities commission or other regulatory body has
approved or disapproved of these securities or passed upon the accuracy or adequacy of this prospectus supplement or
the accompanying prospectus. Any representation to the contrary is a criminal offense.
The underwriters expect to deliver the notes only in book-entry form through the facilities of The Depository Trust
Company for the accounts of its participants, including Clearstream Banking, société anonyme, and Euroclear Bank
S.A./N.V., against payment in New York, New York on March 13, 2014.







Joint Book-Running Managers



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Co-Managers
BNY Mellon Capital

Citigroup

Mitsubishi UFJ Securities
Markets, LLC
Santander

Bank of Ireland

US Bancorp
The date of this prospectus supplement is March 4, 2014.
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TABLE OF CONTENTS
Prospectus Supplement



Page


About This Prospectus Supplement
S-iii


Forward-Looking Statements
S-iv


Summary
S-1


Risk Factors
S-6


Use of Proceeds
S-9


Description of the Notes
S-10


Material U.S. Federal Income Tax Considerations
S-22


Underwriting
S-26


Validity of the Notes
S-30


Experts
S-30


Where You Can Find More Information
S-30


Incorporation by Reference
S-31


Prospectus



Page


About This Prospectus
1


Where You Can Find More Information
1


Incorporation by Reference
1


Forward-Looking Statements
2


Risk Factors
2


The Company
3


Use of Proceeds
3


Ratio of Earnings to Fixed Charges
4


General Description of Securities That We May Sell
4


Description of Debt Securities
5


Description of Preferred Stock and Preference Stock
13


Description of Common Stock
17


Description of Other Securities
22


Plan of Distribution
23


Validity of the Securities
24


Experts
24


S-i
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You should rely only on the information contained in or incorporated by reference into this prospectus
supplement and the accompanying prospectus and any free writing prospectus provided, authorized or approved
by us. We have not, and the underwriters have not, authorized any other person to provide you with additional
or different information. This prospectus supplement and the accompanying prospectus may only be used where
it is legal to offer and sell these securities. The information contained in or incorporated by reference into this
prospectus supplement, the accompanying prospectus and any free writing prospectus provided, authorized or
approved by us may only be accurate as of their respective dates. Our business, financial condition, liquidity,
results of operations and prospects may have changed since those dates.
The distribution of this prospectus supplement and the accompanying prospectus and the offering of the notes in
certain jurisdictions may be restricted by law. Persons who come to possess this prospectus supplement and the
accompanying prospectus should inform themselves about and observe any such restrictions. This prospectus
supplement and the accompanying prospectus do not constitute, and may not be used in connection with, an offer or
solicitation by anyone in any jurisdiction in which such offer or solicitation is not authorized or in which the person
making such offer or solicitation is not qualified to do so or to any person to whom it is unlawful to make such offer or
solicitation.
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ABOUT THIS PROSPECTUS SUPPLEMENT
We provide information to you about the notes in two separate documents: (1) this prospectus supplement, which
describes certain specific terms of the notes and also adds to and updates information contained in the accompanying
prospectus and the documents incorporated by reference into this prospectus supplement and the accompanying
prospectus and (2) the accompanying prospectus, which provides general information about securities we may offer
from time to time, including the notes that are being offered by this prospectus supplement. If information in this
prospectus supplement is inconsistent with the accompanying prospectus, you should rely on this prospectus
supplement.
It is important for you to read and consider all of the information contained in this prospectus supplement and the
accompanying prospectus in making your investment decision. You also should read and consider the information in the
documents we have referred you to in "Where You Can Find More Information" on page S-30 of this prospectus
supplement and page 1 of the accompanying prospectus.
When we refer to "Pitney Bowes," "we," "our" and "us" in this prospectus supplement, we mean only Pitney Bowes
Inc., and not Pitney Bowes Inc. together with any of its subsidiaries, unless the context indicates or requires otherwise.
S-iii
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FORWARD-LOOKING STATEMENTS
This prospectus supplement, the accompanying prospectus and the documents incorporated herein and therein by
reference contain statements that are forward-looking. We want to caution readers that any forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of
the Securities Exchange Act of 1934, as amended (the "Exchange Act"), in these documents may change based on
various factors. These forward-looking statements are based on current expectations and assumptions that are subject to
risks and uncertainties and actual results could differ materially. Words such as "estimate," "target," "project," "plan,"
"believe," "expect," "anticipate," "intend" and similar expressions may identify such forward-looking statements. We
undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise. Factors which could cause future financial performance to differ materially from
the expectations as expressed in any forward-looking statement made by us or on our behalf include, without limitation:

· declining physical mail volumes



· mailers' utilization of alternative means of communication or competitors' products



· access to capital at a reasonable cost to continue to fund various discretionary priorities, including business
investments, acquisitions and dividend payments



· timely development and acceptance of new products and services



· successful entry into new markets



· success in gaining product approval in new markets where regulatory approval is required



· changes in postal or banking regulations



· interrupted use of key information systems



· our ability to successfully implement a new Enterprise Resource Planning (ERP) system and fully realize the
related savings and efficiencies



· third-party suppliers' ability to provide product components, assemblies or inventories



· our success at managing the relationships with our outsource providers, including the costs of outsourcing
functions and operations not central to our business



· changes in privacy laws



· intellectual property infringement claims



· regulatory approvals and satisfaction of other conditions to consummate and integrate any acquisitions



· negative developments in economic conditions, including adverse impacts on customer demand



· our success at managing customer credit risk



· significant changes in pension, health care and retiree medical costs



· changes in interest rates, foreign currency fluctuations or credit ratings



· income tax adjustments or other regulatory levies for prior audit years and changes in tax laws, rulings or
regulations



· impact on mail volume resulting from concerns over the use of the mail for transmitting harmful biological agents



· changes in international or national political conditions, including any terrorist attacks



· acts of nature
S-iv
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SUMMARY
The following information supplements, and should be read together with, the information contained in other
parts of this prospectus supplement and in the accompanying prospectus, as well as the documents we incorporate by
reference. This summary highlights selected information from this prospectus supplement and the accompanying
prospectus to help you understand the terms of the notes and this offering. You should read this prospectus
supplement and the accompanying prospectus, including the documents we incorporate by reference, carefully to
understand fully the terms of the notes and this offering as well as the other considerations that are important to you
in making a decision about whether to invest in the notes.
Pitney Bowes
Pitney Bowes Inc. was incorporated in the state of Delaware on April 23, 1920, as the Pitney Bowes Postage Meter
Company. Today, we are a global provider of technology solutions helping small, mid-sized and large firms connect to
customers to build loyalty and grow revenue. We deliver our solutions on open platforms to best organize, analyze and
apply public and proprietary data to two-way customer communications. We offer solutions for direct mail,
transactional mail, customer engagement management and analytics and e-commerce parcel management, along with
digital channel messaging for the Web, email and mobile applications. We continue to develop and invest in products,
software, services and solutions that help our clients grow their business by more effectively communicating with their
customers across physical, digital and hybrid channels. Our world headquarters are located at 1 Elmcroft Road,
Stamford, CT 06926-0700. Our telephone number is (203) 356-5000.
Our current strategy is to focus on three critical areas: stabilizing the mailing business, achieving operational
excellence and driving growth within our digital commerce solutions segment. During 2013, we sold our International
Management Services business (PBMSi), North America Management Services business (PBMS NA), Nordic furniture
business and International Mailing Services business (IMS). Further, we made certain organizational changes and
realigned our business units to reflect how we manage, review, analyze and measure our operations. Our business is
now organized around three distinct sets of solutions--Small and Medium Business (SMB) Solutions, Enterprise
Business Solutions and Digital Commerce Solutions.
Small and Medium Business Solutions
Within SMB Solutions, we provide a full range of mailing equipment and postage meters, maintenance and support
services and supplies that enable our clients to efficiently create mail and evidence postage. We segment our SMB
Solutions business between our North America operations, comprising the U.S. and Canadian businesses, and our
International operations. We are a leading provider of postage meters and have approximately one million meters
installed in North America and over three-hundred thousand meters installed elsewhere.
We also offer numerous shipping management solutions that enable our clients to select the best carrier based on
need and cost, improve delivery times, track packages in real-time and reduce transportation and logistics costs. In
addition, we offer scalable global logistics management systems that can be integrated into mail centers, as well as
desktop and production shipping environments.
In the United States, we offer our clients who rent or lease our mailing equipment and postage meters a variety of
financing solutions. Through our wholly owned subsidiary, The Pitney Bowes Bank (the Bank), we offer a revolving
credit solution that enables our clients to finance their postage costs and supply purchases. The Bank also provides a
deposit solution to those clients that prefer to prepay postage and earn interest on their deposits. The Bank is chartered
as an Industrial Bank under the laws of the State of Utah, and regulated by the Federal Deposit Insurance Corporation
(FDIC) and the Utah Department of Financial Institutions.
This business is characterized by a high level of recurring revenue driven by rental, lease and loan arrangements,
contract maintenance services and supply sales.
S-1
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Enterprise Business Solutions
Enterprise Business Solutions includes equipment and services that enable large enterprises to process inbound and
outbound mail. We segment our Enterprise Business Solutions group between our Production Mail operations and
Presort Services operations.
Production Mail
Our product and service offerings enable our clients to create high-value, relevant and timely communications
targeted to their customers. The core products within this segment include high-speed, high-volume inserting equipment,
customized sortation products and high-speed digital color printing systems. Inserting equipment folds mail pieces and
inserts them into envelopes, while sorting equipment enables clients to sort high-volumes of mail by zip code and realize
reduced postage costs.
With our high-speed digital color printing systems, we offer our clients a "White Paper Factory" solution. Our
White Paper Factory solution is an end-to-end solution that allows our clients to start with a simple roll of white paper,
create and print mail pieces, insert these mail pieces into envelopes formed from the roll of white paper, apply the
appropriate postage to the envelope, and finally sort the envelopes by zip code and realize reduced postage costs. We
have a strategic alliance with a major printing products company to offer our clients high-volume professional quality
production printers.
Presort Services
We are a national outsource provider of mail presort services for first-class and standard-class mail in the U.S. and
a workshare partner of the United States Postal Service (USPS). Our Presort Services network provides mailers with
end-to-end solutions from pick up at their location to delivery into the postal system. Approximately 90 billion pieces
of U.S. first-class, standard-class and flat mail are processed annually by third-parties like us and through in-house
operations. Through our network of 32 U.S. locations, and with our fully-customized proprietary technology, we process
approximately nearly 15 billion pieces of mail annually and are able to expedite mail delivery and optimize postage
savings for our clients. Our client volumes represent less than 25% of all automated first-class, standard-class and flat
mail.
Digital Commerce Solutions
Within Digital Commerce Solutions (DCS), we provide a broad range of software solutions, customer engagement
and communication solutions, data management products and solutions, e-commerce parcel management solutions and
targeted direct marketing programs. Our digital commerce solutions are primarily delivered as traditional software
licenses, enterprise platforms, software-as-a-service (SaaS) and on-demand applications.
Our software solutions integrate data quality, geocoding, location intelligence and predictive analytics into
every-day workflows and business systems. Our location intelligence solutions enable our clients to organize and
understand the complex relationships between geographic and other forms of data to drive business decisions. Our
products and solutions use predictive analytics, geographic and socio-demographic characteristics of a consumer base
or network to enable our clients to gain a more complete and accurate view of its business and more efficiently manage
operations and drive revenue. Our robust, single-source global geocoding and reverse geocoding technologies cover
more than 200 countries.
Our customer engagement solutions offer our clients a pathway to customer engagement creating value at every
step and every touch point. With our customer engagement solutions, our clients can create, manage and control
wide-spread customer communications in a coordinated, consistent and efficient manner. Coupled with our high-speed,
high-volume inserting equipment, sortation products and digital printing systems, we are able to provide our clients an
all-inclusive solution that enables them to create, print and distribute wide-spread targeted customer communications.
Our solutions enable our clients to create positive connected experiences that positively influence future consumer
behavior and generate stronger revenue growth and profits.
S-2
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Our data management products and solutions, including our postal compliant address quality products, help
companies harness and deliver a deep and broad understanding of their customers and their context, such as location,
relationships, propensity, sentiment and influence. The trusted data and associated insights are crucial for supporting
critical business needs such as personalized customer experience, managing risk and compliance, and improving sales,
marketing and service effectiveness. We are one of the market leaders in the data quality segment with large
corporations and government agencies deploying our products in very complex, high-volume, transactional environments
to support their mission-critical business processes.
International markets for e-commerce trade are experiencing significant growth; however, shipping and tracking
parcels cross borders have significantly higher shipping fees, import/export fees, duties, taxes and brokerage fees, strict
regulations and restrictions, parcel tracking issues and complex customs documentation. For most merchants,
determining the full costs to ship a parcel internationally can be difficult and uncertain, and often results in additional
costs being charged to the buyer upon delivery or those additional costs being borne by the merchant.
Our cross-border e-commerce software platform is currently utilized by over 20 merchants enabling millions of
transactions, providing virtually immediate commodity classifications and total landed cost calculations. We offer a
suite of services that leverage this platform and our expertise in shipping management to enable merchants to accurately
calculate the total costs to ship a parcel internationally, comply with all import/export complexities, restrictions,
regulations and documentation requirements and provide reliable tracking information. We will continue to invest in our
platform to enhance existing solutions, provide additional solutions and meet evolving client needs and expectations to
capture this growth opportunity.
We offer targeted direct and digital marketing programs to large advertisers that enable them to connect with
movers. Through a contract with the USPS, we produce a "Movers' Guide" in both printed and digital format with
targeted advertisers' coupons that is available to movers when they complete a change of address form and a "Welcome
Kit" with targeted advertisers' coupons that is delivered to movers at their new address shortly after they move. We also
offer digital advertising programs through MyMove.com, a move related web-site we own and operate.
Our digital mail delivery services include an interactive digital communications exchange in which businesses can
communicate with consumers about important transactions via a variety of participating channels.
S-3
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