Issuer Free Writing Prospectus Filed Pursuant to Rule 433
Supplementing the Preliminary Prospectus Supplement dated March 17, 2014
Registration No. 333-190407
FINAL TERM SHEET
Dated: March 17, 2014
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Issuers: |
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DIRECTV Holdings LLC (the “Company”) and DIRECTV Financing Co., Inc. (together with the Company, the “Issuers”) |
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Guarantors: |
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DIRECTV |
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Security: |
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4.450% Senior Notes due 2024 |
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Principal Amount: |
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$1,250,000,000 |
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Maturity: |
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April 1, 2024 |
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Coupon (Interest Rate): |
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4.450% per annum |
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Benchmark Treasury: |
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2.750% due February 15, 2024 |
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Benchmark Treasury Spot and Yield: |
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100-15 (2.696%) |
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Spread to Benchmark Treasury: |
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+180 basis points |
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Yield to Maturity: |
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4.496% |
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Interest Payment Dates: |
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Semi-annually on April 1 and October 1, commencing October 1, 2014 |
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Make-Whole Call: |
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At any time prior to January 1, 2024 (three months prior to the maturity date of the notes), make-whole call at a discount rate of Treasury Rate plus 30 basis points |
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Par Call: |
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On or after January 1, 2024 (three months prior to the maturity date of the notes) at par |
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Price to Public: |
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99.630% |
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Settlement Date: |
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March 20, 2014 (T+3) |
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Trade Date: |
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March 17, 2014 |
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Denominations: |
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$2,000 & $1,000 |
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Joint Book-Running Managers: |
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Barclays Capital Inc. |
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Co-Managers: |
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BBVA Securities Inc. Credit Suisse Securities (USA) LLC Deutsche Bank Securities Inc. J.P. Morgan Securities LLC Lloyds Securities Inc. Merrill Lynch, Pierce, Fenner & Smith Incorporated Mitsubishi UFJ Securities (USA), Inc. Mizuho Securities USA Inc. Morgan Stanley & Co. LLC RBS Securities Inc. Santander Investment Securities Inc. SMBC Nikko Securities America, Inc. |
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CUSIP / ISIN Number: |
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25459HBL8/US25459HBL87 |
The Issuers have filed a registration statement (including a prospectus) with the U.S. Securities and Exchange Commission (the “Commission”) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Issuers have filed with the Commission for more complete information about the Issuers and this offering. You may get these documents for free by visiting EDGAR on the Commission web site at www.sec.gov. Alternatively, the Issuers, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll free, Barclays Capital Inc. at 1-888-603-5847 or Citigroup Global Markets Inc. at 1-800-831-9146 or Goldman, Sachs & Co. at 1-866- 471-2526 or UBS Securities LLC at 1-877-827-6444, ext. 5613884.