Filed Pursuant to Rule 433
Registration Statement No. 333-227404

 

Best Buy Co., Inc.
Pricing Term Sheet

 

Priced on September 25, 2018

 

4.450% Notes due 2028

 

Issuer:

 

Best Buy Co., Inc.

 

 

 

Title of Securities:

 

4.450% Notes due 2028

 

 

 

Trade Date:

 

September 25, 2018

 

 

 

Settlement Date:

 

T + 2: September 27, 2018

 

 

 

Principal Amount:

 

$500,000,000

 

 

 

Coupon (Interest Rate):

 

4.450% per annum

 

 

 

Maturity Date:

 

October 1, 2028

 

 

 

Price to Public (Issue Price):

 

99.608% of principal amount

 

 

 

Yield to Maturity:

 

4.499%

 

 

 

Benchmark Treasury:

 

UST 2.875% due August 15, 2028

 

 

 

Benchmark Treasury Price and Yield:

 

98-031/4 / 3.099%

 

 

 

Spread to Benchmark Treasury:

 

T + 140 basis points

 

 

 

Interest Payment Dates:

 

Semi-annually on April 1 and October 1 of each year, beginning on April 1, 2019

 

 

 

Optional Redemption:

 

Prior to July 1, 2028, T + 25 basis points

 

 

 

Par Call:

 

On or after July 1, 2028

 

 

 

CUSIP / ISIN:

 

08652BAA7 / US08652BAA70

 


 

Expected Ratings:

 

Baa1 (Positive) (Moody’s) / BBB (Stable) (S&P) / BBB (Stable) (Fitch)*

 

 

 

Joint Bookrunners:

 

Merrill Lynch, Pierce, Fenner & Smith

                      Incorporated

 

 

Credit Suisse Securities (USA) LLC.

 

 

U.S. Bancorp Investments, Inc.

 

 

BBVA Securities Inc.

 

 

 

Senior Co-Managers:

 

Citigroup Global Markets Inc.

 

 

J.P. Morgan Securities LLC

 

 

 

Co-Managers:

 

Academy Securities, Inc.

 

 

BNP Paribas Securities Corp.

 

 

Goldman Sachs & Co. LLC

 

 

ICBC Standard Bank plc

 

 

Loop Capital Markets LLC

 

 

MUFG Securities Americas Inc.

 

 

RBC Capital Markets, LLC

 

 

Standard Chartered Bank

 

 

Wells Fargo Securities, LLC

 

*Note: A credit rating of a security is not a recommendation to buy, sell or hold such security and may be subject to review, revision, suspension, reduction or withdrawal at any time by the assigning rating agency. Each of the ratings included herein should be evaluated independently of any other rating.

 

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 calling Merrill Lynch, Pierce, Fenner & Smith Incorporated at 1-800-294-1322; Credit Suisse Securities (USA) LLC by calling toll-free 1-800-221-1037; or U.S. Bancorp Investments, Inc. by phone at 1-877-558-2607.

 

Any disclaimers or other notices that may appear below are not applicable to this communication and should be disregarded. Such disclaimers were automatically generated as a result of this communication being sent via Bloomberg or another email system.

 

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