Free Writing Prospectus
Filed Pursuant to Rule 433
Registration No. 333-232937
Relating to Preliminary Prospectus Supplement dated April 20, 2020
(to Prospectus dated August 1, 2019)
$600,000,000
3.125% Notes due 2030
Form of Final Term Sheet
April 20, 2020
| Issuer: | Sonoco Products Company | |
| Long-term Debt Ratings (Moody’s/S&P) *: | Baa2 (Stable) / BBB (Negative) | |
| Type of Offering: | SEC Registered (no. 333-232937) | |
| Trade Date: | April 20, 2020 | |
| Settlement Date (T+2): | April 22, 2020 | |
| Title of Securities: | 3.125% Notes due 2030 | |
| Aggregate Principal Amount Offered: | $600,000,000 | |
| Coupon (Interest Rate): | 3.125% per annum | |
| Maturity Date: | May 1, 2030 | |
| Interest Payment Dates: | Semi-annually on May 1 and November 1, beginning on November 1, 2020. | |
| Make-Whole Call: | Make-whole at T+40 bps (prior to February 1, 2030, three months prior to the Maturity Date of the Notes) | |
| Par Call: | At any time on or after February 1, 2030 the Notes will be redeemable in whole at any time or in part from time to time, at the Issuer’s option, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed plus accrued and unpaid interest thereon to the date of redemption. | |
| Benchmark Treasury: | 1.500% UST due February 15, 2030 | |
| Benchmark Treasury Price and Yield: | 108-06; 0.638% | |
| Spread to Benchmark Treasury: | +250 basis points | |
| Yield to Maturity: | 3.138% | |
| Price to Public (Issue Price): | 99.888% of principal amount | |
| CUSIP Number: | 835495AL6 | |
| ISIN Number: | US835495AL63 | |
| Joint Book-Running Managers: | BofA Securities, Inc. J.P. Morgan Securities LLC U.S. Bancorp Investments, Inc. Wells Fargo Securities, LLC | |
| Co-Managers: | Deutsche Bank Securities Inc. MUFG Securities Americas Inc. TD Securities (USA) LLC | |
*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.
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 or any underwriter participating in this offering can arrange to send you the prospectus supplement and accompanying prospectus if you request it by calling BofA Securities, Inc. toll-free at (800) 294-1322; or by calling J.P. Morgan Securities LLC collect at 1-212-834-4533.