Supplementing the Preliminary Prospectus | Filed Pursuant to Rule 433 | |
Supplement dated September 14, 2020 | Registration Statement No. 333-227749 | |
(To Prospectus dated October 9, 2018) | and 333-227749-01 |
$1,000,000,000
Chubb INA Holdings Inc.
1.375% Senior Notes due 2030
Fully and Unconditionally Guaranteed by
Chubb Limited
Pricing Term Sheet
September 14, 2020
Issuer: | Chubb INA Holdings Inc. | |
Guarantor: | Chubb Limited | |
Ratings (Moody’s / S&P / Fitch)*: | A3 (positive) / A (stable) / A (stable) | |
Offering Format: | SEC Registered | |
Security Type: | Senior Unsecured Notes | |
Description of Securities: | 1.375% Senior Notes due 2030 (the “Notes”) | |
Pricing Date: | September 14, 2020 | |
Settlement Date: | September 17, 2020 (T+3) | |
Maturity Date: | September 15, 2030 | |
Principal Amount: | $1,000,000,000 | |
Public Offering Price: | 99.777% | |
Coupon (Interest Rate): | 1.375% per year | |
Interest Payment Dates: | Semi-annually on March 15 and September 15, commencing March 15, 2021 (short first coupon) | |
Benchmark Treasury: | UST 0.625% due August 15, 2030 | |
Benchmark Treasury Price / Yield: | 99-18+ / 0.669% | |
Spread to Benchmark Treasury: | +73 basis points | |
Yield to Maturity: | 1.399% | |
Optional Redemption: | As described in the Preliminary Prospectus Supplement –
• Make-Whole Call prior to June 15, 2030 (T + 15 basis points)
• Par Call on or after June 15, 2030 |
CUSIP/ISIN: | 171239AG1 / US171239AG12 | |
Joint Book-Running Managers: | Citigroup Global Markets Inc. J.P. Morgan Securities LLC BofA Securities, Inc. Deutsche Bank Securities Inc. Wells Fargo Securities, LLC | |
Co-Managers: | ANZ Securities, Inc. MUFG Securities Americas Inc. Barclays Capital Inc. Goldman Sachs & Co. LLC HSBC Securities (USA) Inc. RBC Capital Markets, LLC BNY Mellon Capital Markets, LLC Scotia Capital (USA) Inc. Standard Chartered Bank |
* 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 and the guarantor have 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 or the guarantor has 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 this offering will arrange to send you the prospectus if you request it by calling Citigroup Global Markets Inc. toll-free at 1-800-831-9146 and J.P. Morgan Securities LLC collect at 1-212-834-4533.
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