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    SEC Form FWP filed by Philip Morris International Inc

    6/3/25 4:06:20 PM ET
    $PM
    Medicinal Chemicals and Botanical Products
    Health Care
    Get the next $PM alert in real time by email
    FWP 1 tm2516348d4_fwp.htm FWP

    Filed Pursuant to Rule 433

    Registration No. 333-269690

     

    FINAL TERM SHEET

     

    Philip Morris International Inc.

     

    Dated June 3, 2025

     

    2.750% Notes due 2029

    3.250% Notes due 2032

     

    Issuer: Philip Morris International Inc.
       
    Offering Format: SEC Registered
       
    Security: 2.750% Notes due 2029 (the “2029 Notes”)
    3.250% Notes due 2032 (the “2032 Notes”)
       
    Aggregate Principal Amount: 2029 Notes: €500,000,000
    2032 Notes: €500,000,000
       
    Maturity Date: 2029 Notes: June 6, 2029
    2032 Notes: June 6, 2032
       
    Coupon: 2029 Notes: 2.750%
    2032 Notes: 3.250%
       
    Interest Payment Dates: 2029 Notes: Annually on June 6, commencing June 6, 2026
    2032 Notes: Annually on June 6, commencing June 6, 2026
       
    Record Dates: 2029 Notes: May 22
    2032 Notes: May 22
       
    Price to Public: 2029 Notes: 99.482% of principal amount
    2032 Notes: 99.079% of principal amount
       
    Underwriting Discount: 2029 Notes: 0.175% of principal amount
    2032 Notes: 0.225% of principal amount
       
    Net Proceeds: 2029 Notes: €496,535,000 (after the underwriting discount and before expenses)
    2032 Notes: €494,270,000 (after the underwriting discount and before expenses)

     

     

    2

     

    Benchmark Security: 2029 Notes: 0.250% due February 15, 2029
    2032 Notes: 0.000% due February 15, 2032
       
    Benchmark Security Yield: 2029 Notes: 1.897%
    2032 Notes: 2.223%
       
    Spread to Benchmark Security: 2029 Notes: +99.2 basis points
    2032 Notes: +117.7 basis points
       
    Re-Offer Yield: 2029 Notes: 2.889%
    2032 Notes: 3.400%
       
    Mid-Swap Yield: 2029 Notes: 2.089%
    2032 Notes: 2.320%
       
    Spread to Mid-Swap Yield: 2029 Notes: +80 basis points
    2032 Notes: +108 basis points
       
    Optional Redemption:

    2029 Notes:

    Prior to May 6, 2029: Make-whole redemption at Comparable Government Bond Rate plus 15 bps, plus accrued and unpaid interest, if any, thereon to, but excluding, the redemption date.

    On or after May 6, 2029: Redemption at par, plus accrued and unpaid interest, if any, thereon to, but excluding, the redemption date.

     

    2032 Notes:

    Prior to March 6, 2032: Make-whole redemption at Comparable Government Bond Rate plus 20 bps, plus accrued and unpaid interest, if any, thereon to, but excluding, the redemption date.

    On or after March 6, 2032: Redemption at par, plus accrued and unpaid interest, if any, thereon to, but excluding, the redemption date.      

       
    Settlement Date (T+3): June 6, 2025*
       
    Common Code / CUSIP/ ISIN: 2029 Notes: Common Code: 308781259
    CUSIP Number: 718172 DV8
    ISIN Number: XS3087812593
      2032 Notes: Common Code: 308781283
    CUSIP Number: 718172 DW6
    ISIN Number: XS3087812833

     

     

    3

     

    Listing: Application will be made to list the Notes on the New York Stock Exchange      
       
    Joint Book-Running Managers: Barclays Bank PLC
    Goldman Sachs International
    HSBC Continental Europe

     

    Allocations:  2029 Notes   2032 Notes 
    Barclays Bank PLC   166,667,000    166,667,000 
    Goldman Sachs International   166,667,000    166,666,000 
    HSBC Continental Europe   166,666,000    166,667,000 
    Total  €500,000,000   €500,000,000 

     

    * Under Rule 15c6-1 under the Exchange Act, trades in the secondary market are required to settle in one business day, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the Notes prior to the delivery date will be required, by virtue of the fact that the Notes initially settle in T+3, to specify an alternate settlement arrangement at the time of any such trade to prevent a failed settlement.

     

    MiFID II and UK MiFIR professionals/ Eligible Counterparties-only/No PRIIPs or UK PRIIPs KID – Manufacturer target market (MiFID II and UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs or UK PRIIPs key information document (KID) has been prepared as the Notes are not available to retail investors in the European Economic Area or the United Kingdom.

     

    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 website 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 Barclays Bank PLC at 1-888-603-5847, Goldman Sachs International at 1-866-471-2526 or HSBC Continental Europe at 1-866-811-8049.

     

     

     

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