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    SEC Form FWP filed by Anthem Inc.

    10/26/22 5:22:59 PM ET
    $ANTM
    Medical Specialities
    Health Care
    Get the next $ANTM alert in real time by email
    FWP 1 d390391dfwp.htm FWP FWP

    Free Writing Prospectus Filed Pursuant to Rule 433

    To Prospectus dated November 5, 2020

    Preliminary Prospectus Supplement dated October 26, 2022

    Registration Statement File No. 333-249877

    ELEVANCE HEALTH, INC.

    Offering of:

    $400,000,000 5.350% Notes due 2025 (the “2025 Notes”)

    $650,000,000 5.500% Notes due 2032 (the “2032 Notes”)

    $750,000,000 6.100% Notes due 2052 (the “2052 Notes”)

    Pricing Term Sheet dated

    October 26, 2022

     

     

    The information in this pricing term sheet relates to the Offering and should be read together with the preliminary prospectus supplement dated October 26, 2022 (the “Preliminary Prospectus Supplement”), including the documents incorporated by reference therein and the related base prospectus dated November 5, 2020, filed pursuant to Rule 424(b) under the Securities Act of 1933, as amended (Registration Statement File No. 333-249877). Terms used but not defined herein, with respect to the Offering, have the meanings ascribed to them in the Preliminary Prospectus Supplement.

     

     

     

    Company    Elevance Health, Inc., an Indiana corporation
    Ratings*    Baa2 / A / BBB (Moody’s / S&P / Fitch)
    Pricing Date    October 26, 2022
    Trade Date    October 26, 2022
    Settlement Date    November 4, 2022 (T+7)
    Aggregate Principal Offering Amount   

    $400,000,000 for the 2025 Notes

    $650,000,000 for the 2032 Notes

    $750,000,000 for the 2052 Notes

    Maturity Date   

    October 15, 2025 for the 2025 Notes

    October 15, 2032 for the 2032 Notes

    October 15, 2052 for the 2052 Notes

    Coupon (Interest Rate)   

    5.350% for the 2025 Notes

    5.500% for the 2032 Notes

    6.100% for the 2052 Notes

    Price to Public (Issue Price)   

    99.974% of the principal amount for the 2025 Notes

    99.384% of the principal amount for the 2032 Notes

    99.991% of the principal amount for the 2052 Notes

    Yield to Maturity   

    5.361% for the 2025 Notes

    5.582% for the 2032 Notes

    6.101% for the 2052 Notes

    Spread to Benchmark Treasury   

    T + 95 basis points for the 2025 Notes

    T + 155 basis points for the 2032 Notes

    T + 190 basis points for the 2052 Notes

    Benchmark Treasury   

    4.250% due October 15, 2025 for the 2025 Notes

    2.750% due August 15, 2032 for the 2032 Notes

    2.875% due May 15, 2052 for the 2052 Notes


    Benchmark Treasury Price / Yield   

    99-17 3⁄4 / 4.411% for the 2025 Notes

    89-22+ / 4.032% for the 2032 Notes

    77-21+ / 4.201% for the 2052 Notes

    Interest Payment Dates   

    April 15 and October 15, commencing April 15, 2023 for the 2025 Notes

    April 15 and October 15, commencing April 15, 2023 for the 2032 Notes

    April 15 and October 15, commencing April 15, 2023 for the 2052 Notes

    Optional Redemption Provisions   

    For the 2025 Notes: Prior to September 15, 2025 (the date that is one month prior to the maturity date), make-whole call at Treasury rate plus 15 basis points; par call at any time on or after September 15, 2025.

     

    For the 2032 Notes: Prior to July 15, 2032 (the date that is three months prior to the maturity date), make-whole call at Treasury rate plus 25 basis points; par call at any time on or after July 15, 2032.

     

    For the 2052 Notes: Prior to April 15, 2052 (the date that is six months prior to the maturity date), make-whole call at Treasury rate plus 30 basis points; par call at any time on or after April 15, 2052.

    Denomination    $1,000 and integral multiples of $1,000 in excess thereof
    Day Count Convention    30/360
    Payment Business Days    New York
    CUSIP/ISIN Number   

    036752 AV5 / US036752AV56 for the 2025 Notes

    036752 AW3 / US036752AW30 for the 2032 Notes

    036752 AX1 / US036752AX13 for the 2052 Notes

    Joint Book-Running Managers   

    BofA Securities, Inc.

    Deutsche Bank Securities Inc.

    Credit Suisse Securities (USA) LLC

    Morgan Stanley & Co. LLC

    PNC Capital Markets LLC

    Wells Fargo Securities, LLC

    Senior Co-Managers   

    Barclays Capital Inc.

    Citigroup Global Markets Inc.

    Goldman Sachs & Co. LLC

    J.P. Morgan Securities LLC

    Mizuho Securities USA LLC

    Truist Securities, Inc.

    U.S. Bancorp Investments, Inc.

    Junior Co-Managers   

    BNY Mellon Capital Markets, LLC

    Huntington Securities, Inc.

     

    *

    Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.

    It is expected that delivery of the notes will be made against payment thereof on or about November 4, 2022, which will be the seventh business day following the pricing of the notes (such settlement being referred to as “T+7”). Under Rule 15c6-1 under the Exchange Act, trades in the secondary market are generally required to settle in two business days, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade notes on the date hereof will be required, by virtue of the fact that the notes will initially settle in T+7, to specify an alternate settlement arrangement at the time of any such trade to prevent a failed settlement.

     

    2


    The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates (File No. 333-249877). 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 the Offering. You may get these documents for free by visiting EDGAR on the SEC Website at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the Offering will arrange to send you the base prospectus and the Preliminary Prospectus Supplement if you request them by calling (i) BofA Securities, Inc. at (800) 294-1322 (toll free), or (ii) Deutsche Bank Securities Inc. at (800) 503-4611 (toll free).

    This communication should be read in conjunction with the Preliminary Prospectus Supplement and the accompanying base prospectus. The information in this communication supersedes the information in the Preliminary Prospectus Supplement and the accompanying base prospectus to the extent inconsistent with the information in the Preliminary Prospectus Supplement and the accompanying base prospectus.

    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 OR ANOTHER EMAIL SYSTEM.

     

    3

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