Filed Pursuant to Rule 433
Free Writing Prospectus dated October 19, 2022
Relating to Preliminary Prospectus Supplement dated October 19, 2022 and
Prospectus dated April 24, 2020
Registration No. 333-237836
Lockheed Martin Corporation
Pricing Term Sheet
October 19, 2022
| 4.95% Notes due 2025 |
5.10% Notes due 2027 |
5.25% Notes due 2033 |
5.70% Notes due 2054 |
5.90% Notes due 2063 | ||||||
| Issuer: | Lockheed Martin Corporation | |||||||||
| Security Type: | Senior Unsecured | |||||||||
| Trade Date: | October 19, 2022 | |||||||||
| Settlement Date (T+3)*: | October 24, 2022 | |||||||||
| Interest Payment Dates: | April 15 and October 15, beginning on April 15, 2023 | May 15 and November 15, beginning on May 15, 2023 | January 15 and July 15, beginning on January 15, 2023 | May 15 and November 15, beginning on May 15, 2023 | May 15 and November 15, beginning on May 15, 2023 | |||||
| Expected Ratings**: | A3 / A- / A- | |||||||||
| Principal Amount: | $500,000,000 | $750,000,000 | $1,000,000,000 | $1,000,000,000 | $750,000,000 | |||||
| Maturity: | October 15, 2025 | November 15, 2027 | January 15, 2033 | November 15, 2054 | November 15, 2063 | |||||
| Coupon: | 4.95% per annum, accruing from October 24, 2022 | 5.10% per annum, accruing from October 24, 2022 | 5.25% per annum, accruing from October 24, 2022 | 5.70% per annum, accruing from October 24, 2022 | 5.90% per annum, accruing from October 24, 2022 | |||||
| Price to Public: | 99.715% of principal amount, plus accrued interest, if any, from October 24, 2022 | 99.833% of principal amount, plus accrued interest, if any, from October 24, 2022 | 99.438% of principal amount, plus accrued interest, if any, from October 24, 2022 | 99.180% of principal amount, plus accrued interest, if any, from October 24, 2022 | 99.139% of principal amount, plus accrued interest, if any, from October 24, 2022 | |||||
| Yield to Maturity: | 5.055% | 5.137% | 5.323% | 5.756% | 5.956% | |||||
| Spread to Benchmark Treasury: | +50 basis points | +80 basis points | +120 basis points | +160 basis points | +180 basis points | |||||
| Benchmark Treasury: | 4.250% due October 15, 2025 |
4.125% due September 30, 2027 |
2.750% due August 15, 2032 |
2.875% due May 15, 2052 |
2.875% due May 15, 2052 | |||||
| Benchmark Treasury Price and Yield: | 99-05 / 4.555% | 99-02 / 4.337% | 89-00 / 4.123% | 78-10 / 4.156% | 78-10 / 4.156% | |||||
| Optional Redemption: | Prior to September 15, 2025 (one month prior to the maturity date), callable at the greater of (a) the make-whole price of T+10 basis points and (b) 100% of the principal amount, plus accrued and unpaid interest to the redemption date Callable at par on or after September 15, 2025 |
Prior to October 15, 2027 (one month prior to the maturity date), callable at the greater of (a) the make-whole price of T+15 basis points and (b) 100% of the principal amount, plus accrued and unpaid interest to the redemption date Callable at par on or after October 15, 2027 |
Prior to October 15, 2032 (three months prior to the maturity date), callable at the greater of (a) the make-whole price of T+20 basis points and (b) 100% of the principal amount, plus accrued and unpaid interest to the redemption date Callable at par on or after October 15, 2032 |
Prior to May 15, 2054 (six months prior to the maturity date), callable at the greater of (a) the make-whole price of T+25 basis points and (b) 100% of the principal amount, plus accrued and unpaid interest to the redemption date Callable at par on or after May 15, 2054 |
Prior to May 15, 2063 (six months prior to the maturity date), callable at the greater of (a) the make-whole price of T+30 basis points and (b) 100% of the principal amount, plus accrued and unpaid interest to the redemption date Callable at par on or after May 15, 2063 | |||||
| CUSIP: | 539830BU2 | 539830BV0 | 539830BW8 | 539830BX6 | 539830BY4 | |||||
| ISIN: | US539830BU22 | US539830BV05 | US539830BW87 | US539830BX60 | US539830BY44 | |||||
| Joint Book-Running Managers: | Morgan Stanley & Co. LLC Goldman Sachs & Co. LLC J.P. Morgan Securities LLC BofA Securities, Inc. Citigroup Global Markets Inc. Credit Agricole Securities (USA) Inc. Mizuho Securities USA LLC Wells Fargo Securities, LLC | |||||||||
| Senior Joint Lead Managers: | Barclays Capital Inc. BNY Mellon Capital Markets, LLC RBC Capital Markets, LLC SMBC Nikko Securities America, Inc. TD Securities (USA) LLC UniCredit Capital Markets LLC U.S. Bancorp Investments, Inc. | |||||||||
| Joint Lead Managers: | Lloyds Securities Inc. PNC Capital Markets LLC | |||||||||
| Senior Co-Managers: | ANZ Securities, Inc. Fifth Third Securities, Inc. | |||||||||
| Co-Managers: | Academy Securities, Inc. AmeriVet Securities, Inc. Blaylock Van, LLC CastleOak Securities, L.P. MFR Securities, Inc. Mischler Financial Group, Inc. Penserra Securities LLC Samuel A. Ramirez & Company, Inc. | |||||||||
*Note: The issuer expects that delivery of the notes will be made to investors on or about October 24, 2022, which will be the third business day following the date of this pricing term sheet (such settlement being referred to as “T+3”). Under Rule 15c6-1 under the Securities Exchange Act of 1934, as amended, trades in the secondary market are required to settle in two business days, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade notes on the date of the prospectus supplement will be required, by virtue of the fact that the notes initially settle in T+3, to specify an alternate settlement arrangement at the time of any such trade to prevent a failed settlement. Purchasers of the notes who wish to trade the notes prior to delivery should consult their advisors.
**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 that are incorporated by reference in the prospectus 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 Morgan Stanley & Co. LLC toll free at +1 (866) 718-1649, Goldman Sachs & Co. LLC toll free at +1 (866) 471-2526 or J.P. Morgan Securities LLC at +1 (212) 834-4533.
This pricing term sheet supplements the preliminary form of prospectus supplement issued by Lockheed Martin Corporation on October 19, 2022 relating to its prospectus dated April 24, 2020.
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.
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