Issuer Free Writing Prospectus
Filed Pursuant to Rule 433
Registration No. 333-176308
August 15, 2011
Occidental Petroleum Corporation
Final Term Sheet
August 15, 2011
$1,250,000,000 1.750% Senior Notes due 2017
$900,000,000 3.125% Senior Notes due 2022
Issuer: |
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Occidental Petroleum Corporation |
Anticipated Ratings |
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(Moodys / S&P / Fitch):* |
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A2/A/A (Stable/Stable/Stable) |
Trade Date: |
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August 15, 2011 |
Settlement Date: |
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August 18, 2011 (T+3) |
Registration: |
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Registration Statement No. 333-176308 |
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1.750% Senior Notes due 2017 |
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Principal Amount: |
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$1,250,000,000 |
Maturity: |
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February 15, 2017 |
Interest Payment Dates: |
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Semi-annually in arrears on February 15 and August 15, commencing February 15, 2012 |
Coupon: |
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1.750% per year, accruing from August 18, 2011 |
Benchmark Treasury: |
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1.50% due July 2016 |
Benchmark Treasury Yield: |
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0.984% |
Spread to Benchmark Treasury: |
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+95 bps |
Yield to Maturity: |
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1.934% |
Initial Price to Public: |
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99.046% per 2017 note |
Make-Whole Call: |
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At any time at the greater of (i) 100% of the principal amount and (ii) the present value of remaining scheduled payments of principal and interest (excluding interest accrued to the redemption date) discounted at the Adjusted Treasury Rate (as defined in the preliminary prospectus supplement referred to below) plus 15 basis points. |
CUSIP / ISIN: |
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674599CB9 / US674599CB95 |
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3.125% Senior Notes due 2022 |
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Principal Amount: |
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$900,000,000 |
Maturity: |
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February 15, 2022 |
Interest Payment Dates: |
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Semi-annually in arrears on February 15 and August 15, commencing February 15, 2012 |
Coupon: |
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3.125% per year, accruing from August 18, |
* Note : A securities rating is not a recommendation to buy, sell or hold securities and may be revised or withdrawn at any time.
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2011 |
Benchmark Treasury: |
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2.125% due August 2021 |
Benchmark Treasury Yield: |
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2.292% |
Spread to Benchmark Treasury: |
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+105 bps |
Yield to Maturity: |
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3.342% |
Initial Price to Public: |
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98.093% per 2022 note |
Make-Whole Call; Par Call: |
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At any time prior to November 15, 2021 at the greater of (i) 100% of the principal amount and (ii) the present value of remaining scheduled payments of principal and interest (excluding interest accrued to the redemption date) discounted at the Adjusted Treasury Rate (as defined in the preliminary prospectus supplement referred to below) plus 20 basis points; at any time on and after November 15, 2021, at 100% of the principal amount, plus accrued and unpaid interest. |
CUSIP / ISIN: |
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674599CC7 / US674599CC78 |
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Joint Book-Running Managers: |
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Barclays Capital Inc. |
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Citigroup Global Markets Inc. |
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J.P. Morgan Securities LLC |
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Merrill Lynch, Pierce, Fenner & Smith |
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Incorporated |
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Wells Fargo Securities, LLC |
Co-Managers: |
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Banca IMI S.p.A. |
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Banco Bilbao Vizcaya Argentaria, S.A. |
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BNP Paribas Securities Corp. |
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BNY Mellon Capital Markets, LLC |
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Credit Suisse Securities (USA) LLC |
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Mitsubishi UFJ Securities (USA), Inc. |
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Mizuho Securities USA Inc. |
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RBS Securities Inc. |
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Scotia Capital (USA) Inc. |
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SG Americas Securities, LLC |
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Standard Chartered Bank |
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UBS Securities LLC |
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 EDGAR on the SEC website 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 Barclays Capital Inc. toll-free at 1-888-603-
5847, Citigroup Global Markets Inc. toll-free at 1-877-858-5407 or J.P. Morgan Securities LLC collect at 212-834-4533.
This final term sheet supplements, and should be read in conjunction with, Occidental Petroleum Corporations preliminary prospectus supplement dated August 15, 2011 and accompanying prospectus dated August 15, 2011 and the documents incorporated by reference therein.
Any disclaimer or other notice that may appear below is not applicable to this communication and should be disregarded. Such disclaimer or notice was automatically generated as a result of this communication being sent by Bloomberg or another email system.