New Issue: United Parcel Service prices $73.51 million 50-year floaters at Libor minus 30 bps

By Cristal Cody

Eureka Springs, Ark., June 6 – United Parcel Service, Inc. sold $73,505,000 of 50-year floating-rate notes at par with a coupon of Libor minus 30 basis points on Monday, according to an FWP filing with the Securities and Exchange Commission.

The notes (Aa3/A+) are due March 15, 2066.

The notes are callable beginning March 15, 2046 and are putable beginning March 15, 2017.

UBS Securities LLC, Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC were the bookrunners.

Proceeds will be used for general corporate purposes.

The package delivery and supply chain management company is based in Atlanta.

Issuer:	United Parcel Service, Inc.
Amount:	$73,505,000
Maturity:	March 15, 2066
Securities:	Floating-rate notes
Bookrunners:	UBS Securities LLC, Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC
Coupon:	Libor minus 30 bps
Price:	Par
Call features:	March 15, 2046 at 105; March 15, 2047 at 104.5; March 15, 2048 at 104; March 15, 2049 at 103.5; March 15, 2050 at 103; March 15, 2051 at 102.50; March 15, 2052 at 102; March 15, 2053 at 101.5; March 15, 2054 at 101; March 15, 2055 at 100.5 and March 15 2056 and thereafter at par
Put option:	On March 15 each year in 2017 to 2021 at 98; on March 15 each year from 2022 to 2026 at 99; and on March 15, 2027 and every third anniversary at par until March 15, 2063
Pricing date:	June 6
Settlement date:	June 15
Ratings:	Moody’s: Aa3
	S&P: A+
Distribution:	SEC registered

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