Filed Pursuant to Rule 433
Registration No. 333-207463
August 12, 2016
MURPHY OIL CORPORATION
Pricing Term Sheet
$550,000,000 6.875% Notes due 2024
This Pricing Term Sheet dated August 12, 2016 to the Preliminary Prospectus Supplement (the “Preliminary Prospectus Supplement”) dated August 10, 2016 of Murphy Oil Corporation is qualified in its entirety by reference to the Preliminary Prospectus Supplement. The information in this Pricing Term Sheet supplements the Preliminary Prospectus Supplement and supersedes the information in the Preliminary Prospectus Supplement to the extent it is inconsistent with the information in the Preliminary Prospectus Supplement. Capitalized terms used in this Pricing Term Sheet but not defined have the meanings given them in the Preliminary Prospectus Supplement.
| Issuer: |
Murphy Oil Corporation | |||
| Ratings: (Moody’s / S&P / Fitch)*: |
B1 / BBB- / BB+ | |||
| Ratings Outlooks: (Moody’s / S&P / Fitch)*: |
Stable / Stable / Negative | |||
| Security Type: |
Senior Unsecured Notes | |||
| Pricing Date: |
August 12, 2016 | |||
| Settlement Date: |
August 17, 2016 (T+3) | |||
| Maturity Date: |
August 15, 2024 | |||
| Interest Payment Dates: |
February 15 and August 15, beginning February 15, 2017 | |||
| Record Dates: |
February 1 and August 1 | |||
| Principal Amount: |
$550,000,000 (represents increase of $50,000,000 from the amount in the Preliminary Prospectus Supplement; additional proceeds will be used as described in the “Use of Proceeds” section of the Preliminary Prospectus Supplement) | |||
| Benchmark: |
UST 2.375% due August 15, 2024 | |||
| Spread to Benchmark: |
+ 548 bps | |||
| Yield to Maturity: |
6.875% | |||
| Coupon: |
6.875% | |||
| Public Offering Price: |
100.000%, plus accrued interest from August 17, 2016 | |||
| Optional Redemption: |
Make-whole redemption at Treasury Rate + 50 basis points prior to August 15, 2019 On or after August 15, 2019, at the redemption prices set forth below (expressed in percentages of principal amount on the redemption date), plus accrued and unpaid interest on the principal amount of the notes being redeemed to, but not including, the redemption date during the twelve-month period beginning on August 15 of the years indicated below:
| |||
| Period |
Redemption Price | |||
|
|
| |||
| 2019 | 105.156% | |||
| 2020 | 103.438% | |||
| 2021 | 101.719% | |||
| 2022 and thereafter | 100.000% | |||
| Denominations: |
$2,000 and integral multiples of $1,000 in excess thereof | |||
| CUSIP / ISIN: |
626717 AH5 / US626717AH56 | |||
| Joint Physical Book-Running Managers: |
J.P. Morgan Securities LLC Merrill Lynch, Pierce, Fenner & Smith Incorporated | |||
| Joint Book-Running Managers: |
BNP Paribas Securities Corp. DNB Markets, Inc. Scotia Capital (USA) Inc. MUFG Securities Americas Inc. Wells Fargo Securities, LLC Goldman, Sachs & Co. | |||
| Co-Managers: |
Regions Securities LLC Capital One Securities, Inc. | |||
*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 preliminary prospectus supplement and a prospectus) and a prospectus supplement with the U.S. Securities and Exchange Commission (SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus supplement for this offering, the issuer’s prospectus in that registration statement and any 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 searching the SEC online data base (EDGAR) on the SEC web site at http://www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus supplement and prospectus if you request it by calling J.P. Morgan Securities LLC collect at (212) 834-4533.