The Dow Chemical Company InterNotes: A Comprehensive Review

The Dow Chemical Company has announced the release of InterNotes, a series of senior unsecured notes with various terms. These notes are subject to redemption at the option of The Dow Chemical Company, with the first redemption date scheduled for June 15, 2024. Investment advisers and selected dealers may be offered these notes at a discount to the public offering rate.

Key Takeaways:

• The Dow Chemical Company InterNotes offer two tranches with different terms, including a 6.25% semi-annual note with a maturity date of December 15, 2033, and a 5.9% semi-annual note with a maturity date of December 15, 2053.
• The notes are subject to redemption at 100% of the principal amount plus accrued interest, upon not less than 10 nor more than 60 days prior notice to the noteholder and the trustee.
• Investment advisers purchasing for the account of their advisory clients and selected dealers purchasing on an agency basis or for their own accounts on a principal or riskless principal basis may be offered the notes at a discount to the public offering rate, ranging from 0.8500% to 2.4000%.
• Notes purchased by selected dealers in level-fee and retirement accounts may be sold to such accounts at a discount up to 2.4000% to the public offering price, without retaining any portion of the discount as compensation.

Statistics:

• The principal amount of the 6.25% semi-annual note is $27.15, with an annual interest rate of 1.80% and a maturity date of December 15, 2033.
• The principal amount of the 5.9% semi-annual note is $29.66, with an annual interest rate of 3.15% and a maturity date of December 15, 2053.
• The redemption price is 100% of the principal amount plus accrued interest, with a minimum redemption period of 10 days and a maximum redemption period of 60 days.

Sources:

• EDGAR Online via COMTEX (exact quote from the original text)
• COMTEX (exact quote from the original text)
• Cybernet Data Systems, Inc. (exact quote from the original text)