Obbligazione Occidental Petroleum Corporation 3.125% ( US674599CC78 ) in USD

Emittente Occidental Petroleum Corporation
Prezzo di mercato 100 USD  ▼ 
Paese  Stati Uniti
Codice isin  US674599CC78 ( in USD )
Tasso d'interesse 3.125% per anno ( pagato 2 volte l'anno)
Scadenza 14/02/2022 - Obbligazione è scaduto



Prospetto opuscolo dell'obbligazione Occidental Petroleum Corp US674599CC78 in USD 3.125%, scaduta


Importo minimo 2 000 USD
Importo totale 900 000 000 USD
Cusip 674599CC7
Standard & Poor's ( S&P ) rating BB- ( Non-investment grade speculative )
Moody's rating Ba2 ( Non-investment grade speculative )
Descrizione dettagliata Occidental Petroleum Corporation è una compagnia petrolifera e gasifera statunitense impegnata in esplorazione, produzione, trasporto e marketing di idrocarburi.

The Obbligazione issued by Occidental Petroleum Corporation ( United States ) , in USD, with the ISIN code US674599CC78, pays a coupon of 3.125% per year.
The coupons are paid 2 times per year and the Obbligazione maturity is 14/02/2022

The Obbligazione issued by Occidental Petroleum Corporation ( United States ) , in USD, with the ISIN code US674599CC78, was rated Ba2 ( Non-investment grade speculative ) by Moody's credit rating agency.

The Obbligazione issued by Occidental Petroleum Corporation ( United States ) , in USD, with the ISIN code US674599CC78, was rated BB- ( Non-investment grade speculative ) by Standard & Poor's ( S&P ) credit rating agency.







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TABLE OF CONTENTS
TABLE OF CONTENTS
Table of Contents
Filed Pursuant to Rule 424(b)(5)
Registration No. 333-176308
CALCULATION OF REGISTRATION FEE

Proposed
Proposed
Title of Each
Amount
Maximum
Maximum
Amount of
Class of Securities
to be
Offering Price
Aggregate
Registration
to be Registered

Registered

Per Unit

Offering Price

Fee(1)

1.750% Senior Notes due
2017
$1,250,000,000
99.046%
$1,238,075,000
$143,741

3.125% Senior Notes due
2022
$900,000,000 98.093%
$882,837,000 $102,497

Total



$2,120,912,000
$246,238

(1)
Calculated in accordance with Rule 456(b) and Rule 457(r) under the Securities Act of 1933.
Prospectus Supplement
(To Prospectus dated August 15, 2011)
$1,250,000,000 1.750% Senior Notes due 2017
$900,000,000 3.125% Senior Notes due 2022
We are offering $1,250,000,000 aggregate principal amount of our 1.750% senior notes due 2017 and $900,000,000 aggregate
principal amount of our 3.125% senior notes due 2022.
In this prospectus supplement, we refer to the 1.750% senior notes due 2017 as the "2017 notes" and the 3.125% senior notes
due 2022 as the "2022 notes" and the 2017 notes and the 2022 notes together as the "notes". We will pay interest on the notes of each
series on February 15 and August 15 of each year, beginning February 15, 2012. The 2017 notes will mature on February 15, 2017
and the 2022 notes will mature on February 15, 2022. We may redeem some or all of the notes of either series at our option at any
time and from time to time at the redemption prices described under "Description of the Notes--Optional Redemption" in this
prospectus supplement.
The notes will be our unsecured senior obligations and will rank equally in right of payment with all of our other unsecured
senior indebtedness from time to time outstanding. The notes will be issued only in denominations of $2,000 and integral multiples of
$1,000 in excess thereof. The notes will not be listed on any securities exchange.
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Investing in the notes involves risks. Please read "Risk Factors" beginning on page S-1 of this prospectus supplement and
in our Annual Report on Form 10-K for the year ended December 31, 2010, which is incorporated by reference into this
prospectus supplement and the accompanying prospectus.
Proceeds,
Public Offering
Underwriting
Before Expenses,


Price(1)

Discount

to Us

Per 2017 Note

99.046%
0.350%
98.696%
Total
for
2017
Notes
$ 1,238,075,000 $ 4,375,000 $ 1,233,700,000
Per 2022 Note

98.093%
0.450%
97.643%
Total
for
2022
Notes
$
882,837,000 $ 4,050,000 $
878,787,000
(1)
Plus accrued interest, if any, from August 18, 2011.
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of
these securities or determined if this prospectus supplement or the accompanying prospectus is truthful or complete. Any
representation to the contrary is a criminal offense.
The notes will be delivered to investors on or about August 18, 2011 in book-entry form only through the facilities of The
Depository Trust Company for the accounts of its participants, which may include Clearstream Banking, société anonyme, and
Euroclear Bank S.A./N.V., against payment in New York, New York.
Joint Book-Running Managers
Barclays Capital

Citigroup

J.P. Morgan
BofA Merrill Lynch

Wells Fargo Securities
Mitsubishi UFJ Securities

RBS

SOCIETE

BNP PARIBAS
GENERALE
BNY Mellon Capital

Credit Suisse
Scotia Capital

UBS Investment Bank
Markets, LLC
BBVA

Mizuho

Banca IMI

Standard Chartered
Securities
Bank
August 15, 2011
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Table of Contents
TABLE OF CONTENTS

Page
Prospectus Supplement

About This Prospectus Supplement
i

Risk Factors
S-1

Occidental
S-3

Use of Proceeds
S-3

Description of the Notes
S-4

Certain United States Federal Income Tax Consequences To Non-U.S. Holders
S-11

Underwriting
S-13

Legal Matters
S-16

Where You Can Find More Information
S-16
Prospectus

About This Prospectus
i

Risk Factors
1

Forward-Looking Statements
1

Where You Can Find More Information
2

Occidental
3

Use of Proceeds
4

Description of Senior Debt Securities
4

Plan of Distribution
17

Legal Matters
18

Experts
18
ABOUT THIS PROSPECTUS SUPPLEMENT
No action has been or will be taken in any jurisdiction by us or by any underwriter that would permit a public offering of the
notes or the possession or distribution of this prospectus supplement, the accompanying prospectus or any related free writing
prospectus in any jurisdiction where action for that purpose is required, other than the United States. Unless otherwise expressly
stated or the context otherwise requires, references to "dollars," "$" and other similar references in this prospectus supplement, the
accompanying prospectus and any related free writing prospectuses are to U.S. dollars.
No person is authorized to give any information or to make any representations other than those contained or incorporated by
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reference in this prospectus supplement, the accompanying prospectus or any free writing prospectus we may provide to you in
connection with this offering and, if given or made, such information or representations must not be relied upon as having been
authorized. This prospectus supplement, the accompanying prospectus and any such free writing prospectus do not constitute an offer
to sell or the solicitation of an offer to buy any securities other than the securities described in this prospectus supplement or an offer
to sell or the solicitation of an offer to buy those securities in any circumstances or jurisdiction in which such offer or solicitation is
unlawful.
Unless otherwise expressly stated or the context otherwise requires, the words "Occidental," "we," "us" and "our" as used in this
prospectus supplement refer only to Occidental Petroleum Corporation and not to any of its subsidiaries.
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RISK FACTORS
Investing in the notes involves risks. You should carefully consider the following risk factors, in addition to the other
information contained or incorporated by reference in this prospectus supplement and the accompanying prospectus. Specifically,
please see "Risk Factors" included in our Annual Report on Form 10-K for the year ended December 31, 2010 and the other
information in that and the other reports that we file with the Securities and Exchange Commission, or SEC, that are
incorporated by reference in this prospectus supplement for a discussion of risk factors that may affect our business. Realization
of any of those risks or the following risks or adverse results from any matter listed under the heading "Forward-Looking
Statements" in the accompanying prospectus or in any such reports could have a material adverse effect on our business,
financial condition, cash flows and results of operations, and you might lose all or part of your investment.
Risks Related to the Notes
The notes will be effectively subordinated to the indebtedness and other liabilities of our subsidiaries.
Substantially all of our operations are conducted through our subsidiaries. None of our subsidiaries is a guarantor of the notes.
As a result, our right to receive assets upon the liquidation or recapitalization of any of our subsidiaries, and your consequent right to
benefit from our receipt of those assets, will be subject to the claims of such subsidiary's creditors. Accordingly, the notes are
effectively subordinated to all indebtedness and other liabilities, including trade payables, of our subsidiaries. Even if we were
recognized as a creditor of one or more of our subsidiaries, our claims would still be effectively subordinated to any security
interests in or other liens on the assets of any such subsidiary and to any indebtedness or other liabilities of any such subsidiary senior
to our claims.
In addition, we derive substantially all of our revenues from our subsidiaries. As a result, our cash flow and our ability to
service our debt and other obligations, including the notes, will depend on the results of operations of our subsidiaries and upon the
ability of our subsidiaries to provide us with cash to pay amounts due on our obligations, including the notes. Our subsidiaries are
separate and distinct legal entities and have no obligation to make payments on the notes or to make funds available to us for that
purpose. In addition, dividends, loans or other distributions from our subsidiaries to us may be subject to contractual and other
restrictions, are dependent upon results of operations of our subsidiaries, may be subject to tax or other laws limiting our ability to
repatriate funds from foreign subsidiaries and may be subject to other business considerations.
The notes will be unsecured and therefore will be effectively subordinated to any secured indebtedness we may incur.
The notes will not be secured by any of our assets. As a result, the notes will be effectively subordinated to any secured debt we
or our subsidiaries may incur in the future to the extent of the value of the assets securing such debt. In any liquidation, dissolution,
bankruptcy or other similar proceeding, the holders of any of our secured debt and the secured debt of our subsidiaries may assert
rights against the assets pledged to secure that debt in order to receive full payment of their debt before the assets may be used to pay
other creditors, including the holders of the notes.
Our credit ratings may not reflect all risks of an investment in the notes and there is no protection in the indenture for holders
of the notes in the event of a ratings downgrade.
Our credit ratings are an assessment by rating agencies of our ability to pay our debts when due but they may not reflect the
potential impact of all risks related to an investment in the notes. Consequently, real or anticipated changes in our credit ratings will
generally affect the market value of the notes. Credit ratings are not a recommendation to buy, sell or hold any security, and may be
revised or withdrawn at any time by the issuing organization in its sole discretion. We have no
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obligation to maintain the ratings and neither we nor any underwriter undertakes any obligation to advise holders of notes of any
change in ratings. Each agency's rating should be evaluated independently of any other agency's rating.
The indenture does not limit the amount of indebtedness that we or our subsidiaries may incur.
The indenture does not limit our ability or that of our subsidiaries to incur additional indebtedness or contain provisions that
would afford holders of the notes protection in the event of a decline in our credit quality or a take-over, recapitalization or highly
leveraged or similar transaction. Accordingly, we and our subsidiaries could, in the future, enter into transactions that could increase
the amount of indebtedness outstanding at that time or otherwise adversely affect your position in our consolidated capital structure or
our credit ratings.
If an active trading market does not develop for the notes, you may be unable to sell your notes or to sell your notes at a price
that you deem sufficient.
The notes are a new issue of securities with no established trading market, and we do not intend to list them on any securities
exchange or automated quotation system. As a result, an active trading market for the notes may not develop, or if one does develop, it
may not be sustained. If an active trading market fails to develop or cannot be sustained, you may not be able to resell your notes at
their fair market value or at all.
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OCCIDENTAL
Our principal businesses consist of three segments operated by our subsidiaries and affiliates. The oil and gas segment explores
for, develops, produces and markets crude oil, including natural gas liquids (NGLs) and condensate (together with NGLs, "liquids"),
as well as natural gas. The chemical segment manufactures and markets basic chemicals, vinyls and other chemicals. The midstream,
marketing and other segment gathers, treats, processes, transports, stores, purchases and markets crude oil, liquids, natural gas,
carbon dioxide and power. It also trades around its assets, including pipelines and storage capacity, and trades oil and gas, other
commodities and commodity-related securities. Our principal executive offices are located at 10889 Wilshire Boulevard, Los
Angeles, California 90024, telephone (310) 208-8800.
USE OF PROCEEDS
The net proceeds from this offering are expected to be approximately $2,110 million, after deducting the underwriting discounts
and our estimated offering expenses. We intend to use the net proceeds from the sale of the notes for general corporate purposes,
which may include ordinary course working capital increases, acquisitions, retirement of debt, stock repurchases and other business
opportunities.
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DESCRIPTION OF THE NOTES
The 2017 and the 2022 notes will each constitute a separate series of senior debt securities under an indenture (the "indenture")
to be entered into between us and The Bank of New York Mellon Trust Company, N.A., as trustee. We will issue the notes under an
officers' certificate pursuant to such indenture setting forth the specific terms applicable to such notes. References to the "indenture" in
this description mean such indenture as so supplemented by such certificate.
The following description is a summary of some of the provisions of the notes and the indenture. This summary is not complete
and is qualified in its entirety by reference to the indenture. You should carefully read the summary below, the description of the
general terms and provisions of our senior debt securities set forth in the accompanying prospectus under the heading "Description of
Senior Debt Securities" and the indenture before investing in the notes.
This description of the notes supplements and, to the extent it is inconsistent, replaces the description of the general provisions
of the senior debt securities and the indenture in the accompanying prospectus. The notes are "senior debt securities" as that term is
used in the accompanying prospectus, the indenture is referred to in the accompanying prospectus as the "Senior Indenture" and the
trustee is referred to in the accompanying prospectus as the "Senior Indenture Trustee." In this description, the term "Securities" refers
to all senior debt securities that may be issued under the indenture and includes the notes.
Description of the Notes
The notes are unsecured and will rank equally in right of payment with all of our other senior unsecured indebtedness. The
indenture does not limit the aggregate principal amount of Securities that we may issue under the indenture and we may, without the
consent of holders of outstanding Securities, issue additional Securities thereunder. In addition, the indenture does not limit the
amount of other unsecured debt that we or our subsidiaries may issue or incur. Such other unsecured debt may have different terms
than the notes. Our previously issued and outstanding senior debt does have different terms than the notes (including different
restrictive covenants and event of default provisions). The terms of the notes will only be as described in the indenture, the
accompanying prospectus and this prospectus supplement. As of June 30, 2011, we had approximately $4.3 billion of senior debt
securities outstanding which ranked equally in right of payment with the notes.
Substantially all of our operations are conducted through our subsidiaries. None of our subsidiaries is a guarantor of the notes.
As a result, our right to receive assets upon the liquidation or recapitalization of any of our subsidiaries, and your consequent right to
benefit from our receipt of those assets, will be subject to the claims of such subsidiary's creditors. Accordingly, the notes are
effectively subordinated to all indebtedness and other liabilities, including trade payables, of our subsidiaries. Even if we were
recognized as a creditor of one or more of our subsidiaries, our claims would still be effectively subordinated to any security
interests in or other liens on the assets of any such subsidiary and to any indebtedness or other liabilities of any such subsidiary senior
to our claims.
Principal, Maturity and Interest
The 2017 notes will be initially limited to $1,250,000,000 aggregate principal amount, and the 2022 notes will be initially
limited to $900,000,000 aggregate principal amount. The 2017 notes will mature on February 15, 2017 and the 2022 notes will
mature on February 15, 2022. We may, from time to time, without the consent of the holders of the notes of any series, reopen the 2017
notes or the 2022 notes or both and issue additional notes of such series.
Interest on the 2017 notes will accrue at the rate of 1.750% per year, and interest on the 2022 notes will accrue at the rate of
3.125% per year. Interest on the notes will be payable semi-annually in
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arrears on February 15 and August 15, commencing on February 15, 2012. We will make each interest payment to the holders of
record of the notes at the close of business on the immediately preceding February 1 and August 1, respectively.
If any interest payment date, maturity date or redemption date for the 2017 notes or the 2022 notes falls on a day that is not a
business day, the payment will be made on the next business day, and no interest will accrue on that payment for the period from and
after such interest payment date, maturity date or redemption date until such following business day.
Interest on the 2017 notes and the 2022 notes will accrue from August 18, 2011 and will be computed on the basis of a 360-day
year comprised of twelve 30-day months.
Interest payable on any interest payment date or on the maturity date of the 2017 notes or the 2022 notes shall be the amount of
interest accrued from, and including, the immediately preceding interest payment date in respect of which interest has been paid or
duly provided for on the notes of such series (or from and including the original issue date of the notes of such series, if no interest
has been paid or duly provided for on the notes of such series) to, but not including, such interest payment date or maturity date, as the
case may be.
Place of Payment, Transfer and Exchange
All payments on the notes will be made, and transfers of the notes will be registrable, at the trustee's office in The City of New
York, unless we designate another place for such purpose.
Optional Redemption
The 2017 notes are redeemable at our option, in whole at any time or in part from time to time, and the 2022 notes are
redeemable at our option, in whole at any time or in part from time to time prior to November 15, 2021, at a redemption price equal
to the greater of:
·
100% of the principal amount of the notes of such series to be redeemed; and
·
the sum of the present values of the remaining scheduled payments of principal and interest on the notes of such series
to be redeemed (not including any portion of such payments of interest accrued to the redemption date) discounted to
the redemption date on a semi-annual basis (assuming a 360-day year comprised of twelve 30-day months) at the
Adjusted Treasury Rate plus 15 basis points, in the case of the 2017 notes, and 20 basis points, in the case of the 2022
notes;
plus, in each case, accrued and unpaid interest on the principal amount of the notes of such series being redeemed to the redemption
date.
On and after November 15, 2021, the 2022 notes are redeemable at our option, in whole at any time or in part from time to time,
at a redemption price equal to 100% of the principal amount of the 2022 notes to be redeemed, plus accrued and unpaid interest on
the principal amount of the 2022 notes being redeemed to the redemption date.
Notwithstanding the foregoing, with respect to payments of interest on the 2017 notes or the 2022 notes that are due and payable
on any interest payment dates falling on or prior to a redemption date for the notes of such series, we will make such payments to the
record holders of such notes at the close of business on the relevant regular record dates.
We will send to each holder of the 2017 notes or the 2022 notes, as applicable, notice of any redemption of notes of such series
at least 30 days but not more than 60 days before the applicable redemption date. Unless we default in payment of the redemption
price (or accrued and unpaid interest) with respect to the notes to be redeemed, no interest will accrue on the notes or portions
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thereof so redeemed for the period on and after such redemption date. If less than all of the notes of such series are to be redeemed,
the trustee will select the notes (or portions thereof) to be redeemed by such method as the trustee deems fair and appropriate.
"Adjusted Treasury Rate" means, with respect to any redemption date for the 2017 notes or the 2022 notes, as applicable, the
rate per year equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the
Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such
redemption date.
"Comparable Treasury Issue" means, with respect to any redemption date for the 2017 notes or the 2022 notes, as applicable, the
United States Treasury security selected by the Quotation Agent as having a maturity comparable to the remaining term of the notes of
such series to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in
pricing new issues of corporate debt securities of comparable maturity to the remaining term of the notes of such series.
"Comparable Treasury Price" means, with respect to any redemption date for the 2017 notes or the 2022 notes, as applicable,
(1) the average of the Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest
Reference Treasury Dealer Quotations, or (2) if the trustee obtains fewer than three Reference Treasury Dealer Quotations, the
average of all such Reference Treasury Dealer Quotations, such average in any case to be determined by the Quotation Agent, or
(3) if only one Reference Treasury Dealer Quotation is received, such Reference Treasury Dealer Quotation.
"Quotation Agent" means, with respect to any redemption date for the 2017 notes or the 2022 notes, as applicable, the Reference
Treasury Dealer appointed by us.
"Reference Treasury Dealer" means, with respect to any redemption date for the 2017 notes or the 2022 notes, as applicable,
(1) Barclays Capital Inc., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC (or their respective affiliates which are
primary U.S. Government securities dealers) and their respective successors; provided, however, that if any of them shall cease to be
a primary U.S. Government securities dealer in the United States of America (a "Primary Treasury Dealer"), we will substitute for it
another Primary Treasury Dealer and (2) any other Primary Treasury Dealer or Dealers selected by us.
"Reference Treasury Dealer Quotations" means, with respect to each Reference Treasury Dealer and any redemption date for the
2017 notes or the 2022 notes, as applicable, the average, as determined by the Quotation Agent, of the bid and asked prices for the
Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the trustee by such
Reference Treasury Dealer at 5:00 p.m. on the third business day in The City of New York preceding such redemption date.
Discharge
We may terminate at any time our obligations under the indenture with respect to either or both series of notes (other than certain
limited obligations, such as the obligation to transfer and exchange the notes of that series) by (1)(a) delivering all of the notes of that
series to the trustee to be cancelled or (b) depositing with the trustee in trust funds or non-callable United States government or
government-guaranteed obligations sufficient without reinvestment to pay all remaining principal and interest on the notes of that
series and (2) complying with certain other provisions of the indenture.
If we elect to discharge our obligations with respect to either or both series of notes by depositing cash or United States
government or government guaranteed obligations as described above, under present law such discharge is likely to be treated for
United States federal income tax purposes as a redemption of notes of that series prior to maturity in exchange for the property
deposited in trust. In
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