Filed Pursuant to Rule 433
Registration Nos. 333-236217 and 333-236221
February 18, 2020
BROOKFIELD FINANCE LLC
US$600,000,000 3.450% NOTES DUE 2050
PRICING TERM SHEET
February 18, 2020
Issuer: |
| Brookfield Finance LLC |
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Guarantor: |
| Brookfield Asset Management Inc. |
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Guarantee: |
| The notes will be fully and unconditionally guaranteed as to payment of principal, premium (if any) and interest and certain other amounts by Brookfield Asset Management Inc. |
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Security: |
| 3.450% Senior Unsecured Notes due 2050 |
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Expected Ratings*: |
| Baa1 (stable) (Moody’s Investors Service, Inc.) |
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Ranking: |
| Senior Unsecured |
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Size: |
| US$600,000,000 |
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Trade Date: |
| February 18, 2020 |
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Expected Settlement Date**: |
| February 21, 2020 (T+3) |
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Maturity Date: |
| April 15, 2050 |
Coupon: |
| 3.450% |
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Interest Payment Dates: |
| April 15 and October 15, commencing April 15, 2020 |
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Price to Public: |
| 99.058% |
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Benchmark Treasury: |
| UST 2.375% due November 15, 2049 |
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Benchmark Treasury Price & Yield: |
| 108-11+; 2.001% |
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Spread to Benchmark Treasury: |
| + 150 basis points |
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Yield: |
| 3.501% |
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Denominations: |
| Initial denominations of US$2,000 and subsequent multiples of US$1,000 |
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Covenants: |
| Change of control (put @ 101%) |
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Redemption Provisions: |
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Make-Whole Call: |
| Prior to October 15, 2049 (six months prior to maturity), treasury rate plus 25 basis points |
Par Call: |
| At any time on or after October 15, 2049 (six months prior to maturity), at 100% of the principal amount of the notes to be redeemed |
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Use of Proceeds: |
| The net proceeds from the sale of the notes will be used to redeem all of the outstanding Cdn$350 million aggregate principal amount of 5.30% notes due March 1, 2021 issued by Brookfield Asset Management Inc. and the remainder for general corporate purposes |
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CUSIP/ISIN: |
| 11271R AB5 / US11271RAB50 |
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Joint Book-Running Managers: |
| Deutsche Bank Securities Inc. |
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Co-Managers: |
| Banco Bradesco BBI S.A. |
*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.
**Note: Under Rule 15c6-1 under the U.S. Securities Exchange Act of 1934, trades in the secondary market generally 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 prior to the delivery date will be required, by virtue of the fact that the notes initially will settle in T+3, to specify an alternate settlement cycle at the time of any such trade to prevent a failed settlement. Purchasers of notes who wish to trade notes prior to the delivery date should consult their own advisor.
The issuer and the guarantor have filed a joint registration statement (including a prospectus) and a prospectus supplement with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement, the prospectus supplement and other documents the issuer and the guarantor have filed with the SEC for more complete information about the issuer, the guarantor and this offering.
You may get these documents for free by visiting EDGAR on the SEC Web site 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 Deutsche Bank Securities Inc. (toll free) at 1-800-503-4611 or by emailing prospectus.CPDG@db.com or by calling BofA Securities, Inc. (toll free) at 1-800-294-1322 or by emailing dg.prospectus_requests@bofa.com.
