Free
Writing Prospectus Filed Pursuant to Rule 433
(Related to Preliminary Prospectus Supplement Dated
May 18, 2009)
Registration No. 333-159303
May 18, 2009
Pricing
Term Sheet
Kellogg Company
$750,000,000 4.450% Notes due 2016
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Issuer: |
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Kellogg Company |
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Size: |
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$750,000,000 |
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Maturity: |
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May 30, 2016 |
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Coupon (Interest Rate): |
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4.450% |
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Yield to Maturity: |
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4.494% |
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Spread to Benchmark Treasury: |
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+180 bps |
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Benchmark Treasury: |
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2.625% due April 30, 2016 |
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Benchmark Treasury Yield: |
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2.694% |
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Interest Payment Dates: |
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May 30 and November 30, commencing November 30, 2009 |
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Make-whole Call: |
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At any time at a discount rate of Treasury plus 30 basis
points |
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Price to Public: |
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99.736% |
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Trade Date: |
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May 18, 2009 |
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Settlement Date: |
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May 21, 2009 |
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CUSIP: |
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487836BB3 |
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Anticipated Ratings: |
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A3 (Moody’s Investors Service Inc.) BBB+
(Standard & Poor’s Ratings Services) A−
(Fitch Ratings) |
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Joint Book-Running Managers: |
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J.P. Morgan Securities Inc., Deutsche Bank Securities Inc., HSBC
Securities (USA) Inc. |
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Co-Managers: |
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BNP Paribas Securities Corp., Mitsubishi UFJ Securities (USA),
Inc., Mizuho Securities USA Inc., SunTrust Robinson Humphrey,
Inc., U.S. Bancorp Investments, Inc., Ramirez &
Company, Inc., The Williams Capital Group, L.P. |
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 IDEA 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 J.P. Morgan
Securities Inc. collect at
1-212-834-4533,
Deutsche Bank Securities Inc. toll-free at
800-503-4611
or HSBC Securities (USA) Inc.
toll-free at
1-866-811-8049.
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