<SEC-DOCUMENT>0001140361-20-011645.txt : 20200514
<SEC-HEADER>0001140361-20-011645.hdr.sgml : 20200514
<ACCEPTANCE-DATETIME>20200514164757
ACCESSION NUMBER:		0001140361-20-011645
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20200514
DATE AS OF CHANGE:		20200514

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			RAYTHEON TECHNOLOGIES CORP
		CENTRAL INDEX KEY:			0000101829
		STANDARD INDUSTRIAL CLASSIFICATION:	AIRCRAFT ENGINES & ENGINE PARTS [3724]
		IRS NUMBER:				060570975
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-234027
		FILM NUMBER:		20878540

	BUSINESS ADDRESS:	
		STREET 1:		870 WINTER STREET
		CITY:			WALTHAM
		STATE:			MA
		ZIP:			02451
		BUSINESS PHONE:		8607287000

	MAIL ADDRESS:	
		STREET 1:		870 WINTER STREET
		CITY:			WALTHAM
		STATE:			MA
		ZIP:			02451

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	UNITED TECHNOLOGIES CORP /DE/
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	UNITED TECHNOLOGIES MICROELECTRONICS CENTER
		DATE OF NAME CHANGE:	19850825

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	UNITED TECHNOLOGIES CORP
		DATE OF NAME CHANGE:	19841205

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			RAYTHEON TECHNOLOGIES CORP
		CENTRAL INDEX KEY:			0000101829
		STANDARD INDUSTRIAL CLASSIFICATION:	AIRCRAFT ENGINES & ENGINE PARTS [3724]
		IRS NUMBER:				060570975
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		870 WINTER STREET
		CITY:			WALTHAM
		STATE:			MA
		ZIP:			02451
		BUSINESS PHONE:		8607287000

	MAIL ADDRESS:	
		STREET 1:		870 WINTER STREET
		CITY:			WALTHAM
		STATE:			MA
		ZIP:			02451

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	UNITED TECHNOLOGIES CORP /DE/
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	UNITED TECHNOLOGIES MICROELECTRONICS CENTER
		DATE OF NAME CHANGE:	19850825

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	UNITED TECHNOLOGIES CORP
		DATE OF NAME CHANGE:	19841205
</SEC-HEADER>
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    <div style="text-align: right; font-family: 'Times New Roman', Times, serif;"><font style="font-weight: bold;">Free Writing Prospectus Filed Pursuant to Rule 433</font><br>
      To Prospectus dated September 27, 2019<br>
      Preliminary Prospectus Supplement dated May 14, 2020</div>
    <div style="text-align: right; font-family: 'Times New Roman', Times, serif;">Registration Statement File No. 333-234027</div>
    <div style="font-family: 'Times New Roman',Times,serif;">
      <div style="text-align: center;"><font style="font-family: 'Times New Roman', Times, serif;"><br>
          RAYTHEON TECHNOLOGIES CORPORATION<br>
          <br>
          FINAL TERM SHEET DATED MAY 14, 2020<br>
        </font><br>
      </div>
      <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">$1,000,000,000 2.250% NOTES DUE 2030</div>
      <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">$1,000,000,000 3.125% NOTES DUE 2050</div>
      <div><br>
      </div>
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              <div style="font-family: 'Times New Roman', Times, serif;">Issuer:</div>
            </td>
            <td style="width: 50.01%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">Raytheon Technologies Corporation</div>
            </td>
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            <td style="vertical-align: top;">&#160;</td>
            <td style="width: 50.01%; vertical-align: top;">&#160;</td>
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            <td style="vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">Title:</div>
            </td>
            <td style="width: 50.01%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">2.250% Notes due 2030 (the &#8220;2030 Notes&#8221;)</div>
              <div style="font-family: 'Times New Roman', Times, serif;">3.125% Notes due 2050 (the &#8220;2050 Notes&#8221;)</div>
            </td>
          </tr>
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            <td style="vertical-align: top;">&#160;</td>
            <td style="width: 50.01%; vertical-align: top;">&#160;</td>
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            <td style="vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">Principal Amount:</div>
            </td>
            <td style="width: 50.01%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">$1,000,000,000 (2030 Notes)</div>
              <div style="font-family: 'Times New Roman', Times, serif;">$1,000,000,000 (2050 Notes)</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top;">&#160;</td>
            <td style="width: 50.01%; vertical-align: top;">&#160;</td>
          </tr>
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            <td style="vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">Maturity Date:</div>
            </td>
            <td style="width: 50.01%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">July 1, 2030 (2030 Notes)</div>
              <div style="font-family: 'Times New Roman', Times, serif;">July 1, 2050 (2050 Notes)</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top;">&#160;</td>
            <td style="width: 50.01%; vertical-align: top;">&#160;</td>
          </tr>
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            <td style="vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">Coupon:</div>
            </td>
            <td style="width: 50.01%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">2.250% (2030 Notes)</div>
              <div style="font-family: 'Times New Roman', Times, serif;">3.125% (2050 Notes)</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top;">&#160;</td>
            <td style="width: 50.01%; vertical-align: top;">&#160;</td>
          </tr>
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            <td style="vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">Price to Public:</div>
            </td>
            <td style="width: 50.01%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">99.872% of face amount (2030 Notes)</div>
              <div style="font-family: 'Times New Roman', Times, serif;">99.667% of face amount (2050 Notes)</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top;">&#160;</td>
            <td style="width: 50.01%; vertical-align: top;">&#160;</td>
          </tr>
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            <td style="vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">Underwriting Discount:</div>
            </td>
            <td style="width: 50.01%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">0.450% (2030 Notes)</div>
              <div style="font-family: 'Times New Roman', Times, serif;">0.875% (2050 Notes)</div>
            </td>
          </tr>
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            <td style="vertical-align: top;">&#160;</td>
            <td style="width: 50.01%; vertical-align: top;">&#160;</td>
          </tr>
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            <td style="vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">Yield to Maturity:</div>
            </td>
            <td style="width: 50.01%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">2.264% (2030 Notes)</div>
              <div style="font-family: 'Times New Roman', Times, serif;">3.142% (2050 Notes)</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top;">&#160;</td>
            <td style="width: 50.01%; vertical-align: top;">&#160;</td>
          </tr>
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            <td style="vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">Spread to Benchmark Treasury:</div>
            </td>
            <td style="width: 50.01%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">+165 basis points (2030 Notes)</div>
              <div style="font-family: 'Times New Roman', Times, serif;">+185 basis points (2050 Notes)</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top;">&#160;</td>
            <td style="width: 50.01%; vertical-align: top;">&#160;</td>
          </tr>
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            <td style="vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">Benchmark Treasury:</div>
            </td>
            <td style="width: 50.01%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">1.500% due February 15, 2030 (2030 Notes)</div>
              <div style="font-family: 'Times New Roman', Times, serif;">2.375% due November 15, 2049 (2050 Notes)</div>
            </td>
          </tr>
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            <td style="vertical-align: top;">&#160;</td>
            <td style="width: 50.01%; vertical-align: top;">&#160;</td>
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            <td style="vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">Benchmark Treasury Price and Yield:</div>
            </td>
            <td style="width: 50.01%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">108-12; 0.614% (2030 Notes)</div>
              <div style="font-family: 'Times New Roman', Times, serif;">126-16; 1.292% (2050 Notes)</div>
            </td>
          </tr>
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            <td style="vertical-align: top;">&#160;</td>
            <td style="width: 50.01%; vertical-align: top;">&#160;</td>
          </tr>
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            <td style="vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">Interest Payment Dates:</div>
            </td>
            <td style="width: 50.01%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">Semi-annually on January 1 and July 1, commencing January 1, 2021. Interest will accrue from May 18, 2020 (long first coupon).</div>
            </td>
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            <td style="vertical-align: top;">&#160;</td>
            <td style="width: 50.01%; vertical-align: top;">&#160;</td>
          </tr>
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            <td style="vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">Day Count Convention:</div>
            </td>
            <td style="width: 50.01%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">30/360</div>
            </td>
          </tr>
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            <td style="vertical-align: top;">&#160;</td>
            <td style="width: 50.01%; vertical-align: top;">&#160;</td>
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            <td style="vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">Make-Whole Call:</div>
            </td>
            <td style="width: 50.01%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">+25 basis points (prior to April 1, 2030) (2030 Notes)</div>
              <div style="font-family: 'Times New Roman', Times, serif;">+30 basis points (prior to January 1, 2050) (2050 Notes)</div>
            </td>
          </tr>
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            <td style="vertical-align: top;">&#160;</td>
            <td style="width: 50.01%; vertical-align: top;">&#160;</td>
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            <td style="vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">Par Call:</div>
            </td>
            <td style="width: 50.01%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">On or after April 1, 2030 (2030 Notes)</div>
              <div style="font-family: 'Times New Roman', Times, serif;">On or after January 1, 2050 (2050 Notes)</div>
            </td>
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            <td style="vertical-align: top;">&#160;</td>
            <td style="width: 50.01%; vertical-align: top;">&#160;</td>
          </tr>
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            <td style="vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">Proceeds, Before Expenses:</div>
            </td>
            <td style="width: 50.01%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">$994,220,000 (2030 Notes)</div>
              <div style="font-family: 'Times New Roman', Times, serif;">$987,920,000 (2050 Notes)</div>
            </td>
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            <td style="vertical-align: top;">&#160;</td>
            <td style="width: 50.01%; vertical-align: top;">&#160;</td>
          </tr>
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            <td style="vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">Trade Date:</div>
            </td>
            <td style="width: 50.01%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">May 14, 2020</div>
            </td>
          </tr>
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            <td style="vertical-align: top;">&#160;</td>
            <td style="width: 50.01%; vertical-align: top;">&#160;</td>
          </tr>
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            <td style="vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">Settlement Date:</div>
            </td>
            <td style="width: 50.01%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">May 18, 2020 (T+2)</div>
            </td>
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            <td style="vertical-align: top; width: 50%;">
              <div style="font-family: 'Times New Roman', Times, serif;">CUSIP:</div>
            </td>
            <td style="width: 50%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">75513EAD3 (2030 Notes)</div>
              <div style="font-family: 'Times New Roman', Times, serif;">75513EAC5 (2050 Notes)</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 50%;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
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            <td style="vertical-align: top; width: 50%;">
              <div style="font-family: 'Times New Roman', Times, serif;">ISIN:</div>
            </td>
            <td style="width: 50%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">US75513EAD31 (2030 Notes)</div>
              <div style="font-family: 'Times New Roman', Times, serif;">US75513EAC57 (2050 Notes)</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 50%;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 50%;">
              <div style="font-family: 'Times New Roman', Times, serif;">Denominations:</div>
            </td>
            <td style="width: 50%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">$2,000 x $1,000</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 50%;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
          </tr>
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            <td style="vertical-align: top; width: 50%;">
              <div style="font-family: 'Times New Roman', Times, serif;">Ratings*:</div>
            </td>
            <td style="width: 50%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">A-/Baa1 (Negative/Review for upgrade)</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 50%;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 50%;">
              <div style="font-family: 'Times New Roman', Times, serif;">Joint Book-Running Managers:</div>
            </td>
            <td style="width: 50%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">BofA Securities, Inc.</div>
            </td>
          </tr>
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            <td style="vertical-align: top; width: 50%;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">Citigroup Global Markets Inc.</div>
            </td>
          </tr>
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            <td style="vertical-align: top; width: 50%;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">Deutsche Bank Securities Inc.</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 50%;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">J.P. Morgan Securities LLC</div>
            </td>
          </tr>
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            <td style="vertical-align: top; width: 50%;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">BNP Paribas Securities Corp.</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 50%;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">Goldman Sachs &amp; Co. LLC</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 50%;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">Mizuho Securities USA LLC</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 50%;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">Morgan Stanley &amp; Co. LLC</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 50%;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">SMBC Nikko Securities America, Inc.</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 50%;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 50%;">
              <div style="font-family: 'Times New Roman', Times, serif;">Co-Managers:</div>
            </td>
            <td style="width: 50%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">ANZ Securities, Inc.</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 50%;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">BNY Mellon Capital Markets, LLC</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 50%;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">Credit Agricole Securities (USA) Inc.</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 50%;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">Credit Suisse Securities (USA) LLC</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 50%;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">RBC Capital Markets, LLC</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 50%;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">Scotia Capital (USA) Inc.</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 50%;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">UniCredit Capital Markets LLC</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 50%;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">U.S. Bancorp Investments, Inc.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="vertical-align: top; width: 50%;">&#160;</td>
          </tr>

      </table>
      <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-weight: bold;">* Note: A security rating is not a recommendation to buy, sell or hold securities. Additionally, the security rating may be subject to revision or
        withdrawal at any time by the assigning rating organization. Each rating should be evaluated independently of any other rating.</div>
      <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;<br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-weight: bold;">The issuer has filed a registration statement (including a prospectus), as amended, with the SEC for the offering to which this communication relates
        (File No. 333-234027). 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 BofA Securities,
        Inc. (toll-free) at 1-800-294-1322, Citigroup Global Markets Inc. (toll-free) at 1-800-831-9146, Deutsche Bank Securities Inc. (toll-free) at 1-800-503-4611 or J.P. Morgan Securities LLC collect at 1-212-834-4533.</div>
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