Obbligazione Marriott Global 3.5% ( US571903BF91 ) in USD

Marriott Global

100 USD ▲

Stati Uniti

US571903BF91 ( in USD )

3.5% per anno ( pagato 2 volte l'anno)

14/10/2032

Prospetto opuscolo dell'obbligazione Marriott International US571903BF91 en USD 3.5%, scadenza 14/10/2032

2 000 USD

1 000 000 000 USD

571903BF9

BBB- ( Lower medium grade - Investment-grade )

Baa3 ( Lower medium grade - Investment-grade )

15/04/2026 ( In 122 giorni )

Marriott International è una delle più grandi catene alberghiere al mondo, con un vasto portfolio di marchi che spaziano da hotel di lusso a strutture a servizio limitato, presenti in oltre 130 paesi e territori.

The Obbligazione issued by Marriott Global ( United States ) , in USD, with the ISIN code US571903BF91, pays a coupon of 3.5% per year.
The coupons are paid 2 times per year and the Obbligazione maturity is 14/10/2032

The Obbligazione issued by Marriott Global ( United States ) , in USD, with the ISIN code US571903BF91, was rated Baa3 ( Lower medium grade - Investment-grade ) by Moody's credit rating agency.

The Obbligazione issued by Marriott Global ( United States ) , in USD, with the ISIN code US571903BF91, was rated BBB- ( Lower medium grade - Investment-grade ) by Standard & Poor's ( S&P ) credit rating agency.

Issuer Free Writing Prospectus Filed Pursuant to Rule 433
supplementing the
Preliminary Prospectus Supplement dated August 12, 2020
Registration No. 333-223058
MARRIOTT INTERNATIONAL, INC.
3.500% Series GG Notes due 2032
PRICING TERM SHEET
Dated: August 12, 2020
Issuer:
Marriott International, Inc.
Anticipated Ratings (Moody's / S&P)*:
Baa3 / BBB-
Security:
3.500% Series GG Notes due 2032 (the "Series GG Notes")
Aggregate Principal Amount:
$1,000,000,000
Maturity Date:
October 15, 2032
Coupon:
3.500%
Interest Payment Dates:
April 15 and October 15, commencing on April 15, 2021
Interest Rate Adjustment:
The interest rate payable on the Series GG Notes wil be
subject to adjustment based on certain rating events as
described under the caption "Description of the Notes--
Terms--Interest on the Notes" in the Preliminary Prospectus
Supplement dated August 12, 2020.
Day Count Convention:
360-day year consisting of twelve 30-day months
Price to Public:
99.278% of the principal amount
Benchmark Treasury:
0.625% due May 15, 2030
Benchmark Treasury Price / Yield:
99-17+ / 0.673%
Spread to Benchmark Treasury:
+290 basis points
Yield to Maturity:
3.573%

Optional Redemption Provisions:
The Series GG Notes may be redeemed in whole or in part
at any time prior to July 15, 2032 (three months prior to the
maturity date of the notes), at the issuer's option, at a
redemption price equal to the greater of (1) 100% of the
principal amount of the Series GG Notes being redeemed
and (2) the sum of the present values of the remaining
scheduled payments of principal and interest (not including
accrued interest as of the redemption date) on the Series
GG Notes to be redeemed, discounted to the redemption
date on a semi-annual basis (assuming a 360-day year
consisting of twelve 30-day months) at the Treasury Rate
(the yield to maturity of the United States Treasury
security, selected by a primary U.S. government securities
dealer, having a maturity comparable to the remaining
term of the Series GG Notes being redeemed) plus 45 basis
points, plus accrued and unpaid interest on the Series GG
Notes to the redemption date.
The Series GG Notes may be redeemed in whole or in part
from time to time on or after July 15, 2032 (three months
prior to the maturity date of the notes), at the issuer's
option, at a redemption price equal to 100% of the principal
amount of the notes being redeemed, plus any accrued and
unpaid interest on the notes being redeemed to the
redemption date.
Change of Control:
Issuer repurchase offer required fol owing certain changes
of control as described in the Preliminary Prospectus
Supplement dated August 12, 2020.
Trade Date:
August 12, 2020
Expected Settlement Date:
August 14, 2020 (T+2)
CUSIP / ISIN:
571903 BF9 / US571903BF91
Denominations:
$2,000 and integral multiples of $1,000 in excess thereof

Joint Book-Running Managers:
Deutsche Bank Securities Inc.
BofA Securities, Inc.
Wel s Fargo Securities, LLC
J.P. Morgan Securities LLC
Citigroup Global Markets Inc.
Scotia Capital (USA) Inc.
U.S. Bancorp Investments, Inc.
Fifth Third Securities, Inc.
Goldman Sachs & Co. LLC
HSBC Securities (USA) Inc.
ICBC Standard Bank Plc
Truist Securities, Inc.
Senior Co-Managers:
BNY Mel on Capital Markets, LLC
Capital One Securities, Inc.
Loop Capital Markets LLC
PNC Capital Markets LLC
Siebert Wil iams Shank & Co., LLC
TD Securities (USA) LLC
UniCredit Capital Markets LLC
Co-Managers:
Santander Investment Securities Inc.
Standard Chartered Bank
The Standard Bank of South Africa Limited
*Note: A securities rating is not a recommendation to buy, sel or hold securities and 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 wil arrange to send you
the prospectus if you request it by cal ing Deutsche Bank Securities Inc. at 1-800-503-4611, BofA Securities,
Inc. at 1-800-294-1322 or Wel s Fargo Securities, LLC at 1-800-645-3751.