FWP 1 d936326dfwp.htm FWP FWP

Filed Pursuant to Rule 433

Registration Statement No. 333-229396

Registration Statement No. 333-229396-01

Pricing Term Sheet

$2,500,000,000

BERKSHIRE HATHAWAY FINANCE CORPORATION

Pricing Term Sheet

$750,000,000 1.450% Senior Notes due 2030

$1,750,000,000 2.850% Senior Notes due 2050

 

Issuer:    Berkshire Hathaway Finance Corporation
Guarantor:    Berkshire Hathaway Inc.
Offering Format:    SEC Registered
Trade Date:    October 5, 2020
Settlement Date:    October 15, 2020 (T+7)
Expected Ratings*:    Aa2/AA
1.450% Senior Notes due 2030   

Principal Amount:

    $750,000,000

Maturity Date:

    October 15, 2030

Issue Price (Price to Public):

    99.796% of face amount

Gross Spread:

    20 bps

Proceeds to Issuer:

    $746,970,000

Interest Rate:

    1.450% per annum

Benchmark Treasury:

    0.625% due August 15, 2030

Benchmark Treasury Yield:

    0.772%

Spread to Benchmark Treasury:

    70 bps

Yield to Maturity:

    1.472%

Day Count Convention:

   

30/360

If any date on which interest is payable on the notes is not a business day, then payment of the interest payable on such date will be made on the next succeeding day that is a business day (and without any interest or other payment in respect of any such delay) with the same force and effect as if made on such interest payment date.

Interest Payment Dates:    Each April 15 and October 15, commencing April 15, 2021

Optional Redemption Provisions:

Make Whole Call:

    Prior to July 15, 2030, make-whole call for scheduled payments that would be due if the notes matured on the Par Call date at Treasury +15 bps
Par Call:    On or after July 15, 2030
Minimum Denomination:    $2,000 and integral multiples of $1,000 in excess thereof
CUSIP:    084664 CW9
ISIN:    US084664CW92

2.850% Senior Notes due 2050   

Principal Amount:

    $1,750,000,000

Maturity Date:

    October 15, 2050

Issue Price (Price to Public):

    99.920% of face amount

Gross Spread:

    40 bps

Proceeds to Issuer:

    $1,741,600,000

Interest Rate:

    2.850% per annum

Benchmark Treasury:

    1.250% due May 15, 2050

Benchmark Treasury Yield:

    1.584%

Spread to Benchmark Treasury:

    127 bps

Yield to Maturity:

    2.854%

Day Count Convention:

   

30/360

If any date on which interest is payable on the notes is not a business day, then payment of the interest payable on such date will be made on the next succeeding day that is a business day (and without any interest or other payment in respect of any such delay) with the same force and effect as if made on such interest payment date.

Interest Payment Dates:    Each April 15 and October 15, commencing April 15, 2021

Optional Redemption Provisions:

Make Whole Call:

    Prior to April 15, 2050, make-whole call for scheduled payments that would be due if the notes matured on the Par Call date at Treasury +20 bps
Par Call:    On or after April 15, 2050
Minimum Denomination:    $2,000 and integral multiples of $1,000 in excess thereof
CUSIP:    084664 CV1
ISIN:    US084664CV10
Other Information   

Joint Book-Running Managers:

   

BofA Securities, Inc.

J.P. Morgan Securities 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

Settlement Period: The closing will occur on October 15, 2020, which will be more than two business days after the date of this pricing term sheet. Rule 15c6-1 under the Securities Exchange Act of 1934 generally requires that securities trades in the secondary market settle in two business days, unless the parties to a trade expressly agree otherwise.

Each of the issuer and the guarantor 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 and the guarantor have filed with the SEC for more complete information about the issuer, the guarantor 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 BofA Securities, Inc. toll-free at (800) 294-1322 or J.P. Morgan Securities LLC collect at (212) 834-4533.

 

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