Final Term Sheet
Filed Pursuant to Rule 433
Registration Statement No. 333-168310
November 8, 2010
PPG Industries, Inc.
| Issuer: | PPG Industries, Inc. | |||||
| Title of Securities: | $250,000,000 1.900% Notes due 2016 | $500,000,000 3.600% Notes due 2020 | $250,000,000 5.500% Notes due 2040 | |||
| Long-Term Debt Ratings: | Moody’s: Baa1 (stable) / S&P: BBB+ (stable) / Fitch: A- (stable) | |||||
| Format: | SEC Registered | |||||
| Principal Amount Offered: | $250,000,000 | $500,000,000 | $250,000,000 | |||
| Trade Date: | November 8, 2010 | November 8, 2010 | November 8, 2010 | |||
| Settlement Date (T+3): | November 12, 2010 | November 12, 2010 | November 12, 2010 | |||
| Maturity Date: | January 15, 2016 | November 15, 2020 | November 15, 2040 | |||
| Price to Public: | 99.124% |
98.774% |
99.244% | |||
| Coupon: | 1.900% |
3.600% |
5.500% | |||
| Yield to Maturity: | 2.079% |
3.748% |
5.552% | |||
| Spread to Benchmark Treasury: | T + 95 bps |
T + 120 bps |
T + 145 bps | |||
| Benchmark Treasury: | 1.250% UST due 10/15 |
2.625% UST due 8/20 |
4.375% UST due 5/40 | |||
| Benchmark Treasury Yield: | 1.129% |
2.548% |
4.102% | |||
| Gross Spread: | 0.600% |
0.650% |
0.875% | |||
| Net Proceeds to the Issuer: | $246,310,000 |
$490,620,000 |
$245,922,500 | |||
| Interest Payment Dates: | January 15 and July 15 commencing on July 15, 2011 | May 15 and November 15 commencing on May 15, 2011 | May 15 and November 15 commencing on May 15, 2011 | |||
| Make-Whole Call: | The greater of par or make-whole at Treasury Rate plus 15 bps | The greater of par or make-whole at Treasury Rate plus 20 bps | The greater of par or make-whole at Treasury Rate plus 25 bps | |||
| CUSIP: | 693506BF3 | 693506BD8 | 693506BE6 | |||
| Joint Book-Running Managers: | Goldman, Sachs & Co. J.P. Morgan Securities LLC Morgan Stanley & Co. Incorporated |
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| Senior Co-Managers: | Citigroup Global Markets Inc. HSBC Securities (USA) Inc. SG Americas Securities, LLC |
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| Co-Managers: | Banca IMI S.p.A. BNP Paribas Securities Corp. BNY Mellon Capital Markets, LLC Credit Suisse Securities (USA) LLC Daiwa Capital Markets America Inc. Deutsche Bank Securities Inc. Merrill Lynch, Pierce, Fenner & Smith Incorporated PNC Capital Markets LLC RBS Securities Inc. Santander Investment Securities Inc. |
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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 for more complete information about the issuer 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 Goldman, Sachs & Co., 1-866-471-2526, J.P. Morgan Securities LLC, 212-834-4533 or Morgan Stanley & Co. Incorporated, 1-866-718-1649.