FedEx issues redemption notices for nine series of notes

By Wendy Van Sickle

Columbus, Ohio, April 20 – FedEx Corp. issued redemption notices for nine series of notes, according to a news release.

The notes include

• $500 million of 3.4% notes due 2022, which will be redeemed on April 30 at the greater of par and the sum of the present values of the remaining scheduled payments of principal and interest discounted to the redemption date on a semiannual basis at the Adjusted Treasury rate plus 15 basis points. The paying agent for this series is Wells Fargo Bank, NA;

• €640 million of 0.7% notes due 2022, which will be redeemed on May 5 at the greater of par and the sum of the present values of the remaining scheduled payments of principal and interest discounted to the redemption date on a semiannual basis at the Comparable Government Bond rate plus 20 bps. The paying agent for this series is Elavon Financial Services DAC, UK Branch;

• $500 million of 2.625% notes due 2022, which will be redeemed on May 20 at the greater of par and the sum of the present values of the remaining scheduled payments of principal and interest discounted to the redemption date on a semiannual basis at the Adjusted Treasury rate plus 20 bps. The paying agent for this series is Bank of New York Mellon;

• $250 million of 2.7% notes due 2023, which will be redeemed on May 20 at the greater of par and the sum of the present values of the remaining scheduled payments of principal and interest discounted to the redemption date on a semiannual basis at the Adjusted Treasury rate plus 15 bps. The paying agent for this series is Bank of New York Mellon;

• €750 million of 1% notes due 2023, which will be redeemed on May 20 at the greater of par and the sum of the present values of the remaining scheduled payments of principal and interest discounted to the redemption date on a semiannual basis at the Comparable Government Bond rate plus 20 bps. The paying agent for this series is Wells Fargo, NA;

• $750 million of 4% notes due 2024, which will be redeemed on May 20 at the greater of par and the sum of the present values of the remaining scheduled payments of principal and interest discounted to the redemption date on a semiannual basis at the Adjusted Treasury rate plus 15 bps. The paying agent for this series is Bank of New York Mellon;

• $700 million of 3.2% notes due 2025, which will be redeemed on May 20 at the greater of par and the sum of the present values of the remaining scheduled payments of principal and interest discounted to the redemption date on a semiannual basis at the Adjusted Treasury rate plus 20 bps. The paying agent for this series is Bank of New York Mellon;

• $1 billion of 3.8% notes due 2025, which will be redeemed on April 30 at the greater of par and the sum of the present values of the remaining scheduled payments of principal and interest discounted to the redemption date on a semiannual basis at the Adjusted Treasury rate plus 50 bps. The paying agent for this series is Well Fargo; and

• $450 million of 3.3% notes due 2027, which will be redeemed on May 20 at the greater of par and the sum of the present values of the remaining scheduled payments of principal and interest discounted to the redemption date on a semiannual basis at the Adjusted Treasury rate plus 15 bps. The paying agent for this series is Wells Fargo;

FedEx is a Memphis-based package and freight transportation company.

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