<SEC-DOCUMENT>0001140361-21-026981.txt : 20210805
<SEC-HEADER>0001140361-21-026981.hdr.sgml : 20210805
<ACCEPTANCE-DATETIME>20210804191218
ACCESSION NUMBER:		0001140361-21-026981
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20210805
DATE AS OF CHANGE:		20210804

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:		211145697

	BUSINESS ADDRESS:	
		STREET 1:		870 WINTER STREET
		CITY:			WALTHAM
		STATE:			MA
		ZIP:			02451
		BUSINESS PHONE:		781-522-3000

	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:		781-522-3000

	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>
<DOCUMENT>
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      <div style="text-align: right;"><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">Free Writing Prospectus Filed Pursuant to Rule 433</font><br>
      </div>
      <div style="text-align: right;">To Prospectus dated September 27, 2019<br>
        Preliminary Prospectus Supplement dated August 4, 2021</div>
      <div style="text-align: right;">Registration Statement File No. 333-234027</div>
      <font style="font-family: 'Times New Roman',Times,serif;"><br>
        RAYTHEON TECHNOLOGIES CORPORATION<br>
        <br>
        FINAL TERM SHEET DATED AUGUST 4, 2021<br>
      </font><br>
    </div>
    <div style="text-align: center;">$1,000,000,000 1.900% NOTES DUE 2031</div>
    <div style="text-align: center;">$1,000,000,000 2.820% NOTES DUE 2051</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="zeeecdd14cbdf42e58bd90daf27bedc76" cellpadding="0" cellspacing="0">

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          <td style="width: 49.99%; vertical-align: top;">
            <div>Issuer:</div>
          </td>
          <td style="width: 50.01%; vertical-align: top;">
            <div>Raytheon Technologies Corporation</div>
          </td>
        </tr>
        <tr>
          <td style="width: 49.99%; vertical-align: top;">&#160;</td>
          <td style="width: 50.01%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 49.99%; vertical-align: top;">
            <div>Title:</div>
          </td>
          <td style="width: 50.01%; vertical-align: top;">
            <div>1.900% Notes due 2031 (the &#8220;2031 Notes&#8221;)</div>
            <div>2.820% Notes due 2051 (the &#8220;2051 Notes&#8221;)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 49.99%; vertical-align: top;">&#160;</td>
          <td style="width: 50.01%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 49.99%; vertical-align: top;">
            <div>Principal Amount:</div>
          </td>
          <td style="width: 50.01%; vertical-align: top;">
            <div>$1,000,000,000 (2031 Notes)</div>
            <div>$1,000,000,000 (2051 Notes)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 49.99%; vertical-align: top;">&#160;</td>
          <td style="width: 50.01%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 49.99%; vertical-align: top;">
            <div>Maturity Date:</div>
          </td>
          <td style="width: 50.01%; vertical-align: top;">
            <div>September 1, 2031 (2031 Notes)</div>
            <div>September 1, 2051 (2051 Notes)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 49.99%; vertical-align: top;">&#160;</td>
          <td style="width: 50.01%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 49.99%; vertical-align: top;">
            <div>Coupon:</div>
          </td>
          <td style="width: 50.01%; vertical-align: top;">
            <div>1.900% (2031 Notes)</div>
            <div>2.820% (2051 Notes)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 49.99%; vertical-align: top;">&#160;</td>
          <td style="width: 50.01%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 49.99%; vertical-align: top;">
            <div>Price to Public:</div>
          </td>
          <td style="width: 50.01%; vertical-align: top;">
            <div>99.963% of face amount (2031 Notes)</div>
            <div>99.898% of face amount (2051 Notes)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 49.99%; vertical-align: top;">&#160;</td>
          <td style="width: 50.01%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 49.99%; vertical-align: top;">
            <div>Underwriting Discount:</div>
          </td>
          <td style="width: 50.01%; vertical-align: top;">
            <div>0.450% (2031 Notes)</div>
            <div>0.875% (2051 Notes)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 49.99%; vertical-align: top;">&#160;</td>
          <td style="width: 50.01%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 49.99%; vertical-align: top;">
            <div>Yield to Maturity:</div>
          </td>
          <td style="width: 50.01%; vertical-align: top;">
            <div>1.904% (2031 Notes)</div>
            <div>2.825% (2051 Notes)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 49.99%; vertical-align: top;">&#160;</td>
          <td style="width: 50.01%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 49.99%; vertical-align: top;">
            <div>Spread to Benchmark Treasury:</div>
          </td>
          <td style="width: 50.01%; vertical-align: top;">
            <div>+73 basis points (2031 Notes)</div>
            <div>+98 basis points (2051 Notes)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 49.99%; vertical-align: top;">&#160;</td>
          <td style="width: 50.01%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 49.99%; vertical-align: top;">
            <div>Benchmark Treasury:</div>
          </td>
          <td style="width: 50.01%; vertical-align: top;">
            <div>1.625% due May 15, 2021 (2031 Notes)</div>
            <div>1.875% due February 15, 2051 (2051 Notes)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 49.99%; vertical-align: top;">&#160;</td>
          <td style="width: 50.01%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 49.99%; vertical-align: top;">
            <div>Benchmark Treasury Price and Yield:</div>
          </td>
          <td style="width: 50.01%; vertical-align: top;">
            <div>104-05/1.174% (2031 Notes)</div>
            <div>100-21+/1.845% (2051 Notes)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 49.99%; vertical-align: top;">&#160;</td>
          <td style="width: 50.01%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 49.99%; vertical-align: top;">
            <div>Interest Payment Dates:</div>
          </td>
          <td style="width: 50.01%; vertical-align: top;">
            <div>Semi-annually on March 1 and September 1, commencing March 1, 2022. Interest will accrue from August 10, 2021.</div>
          </td>
        </tr>
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          <td style="width: 49.99%; vertical-align: top;">&#160;</td>
          <td style="width: 50.01%; vertical-align: top;">&#160;</td>
        </tr>
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          <td style="width: 49.99%; vertical-align: top;">
            <div>Day Count Convention:</div>
          </td>
          <td style="width: 50.01%; vertical-align: top;">
            <div>30/360</div>
          </td>
        </tr>
        <tr>
          <td style="width: 49.99%; vertical-align: top;">&#160;</td>
          <td style="width: 50.01%; vertical-align: top;">&#160;</td>
        </tr>
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          <td style="width: 49.99%; vertical-align: top;">
            <div>Make-Whole Call:</div>
          </td>
          <td style="width: 50.01%; vertical-align: top;">
            <div>+12.5 basis points (prior to June 1, 2031) (2031 Notes)</div>
            <div>+15 basis points (prior to March 1, 2051) (2051 Notes)</div>
          </td>
        </tr>
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          <td style="width: 49.99%; vertical-align: top;">&#160;</td>
          <td style="width: 50.01%; vertical-align: top;">&#160;</td>
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          <td style="width: 49.99%; vertical-align: top;">
            <div>Par Call:</div>
          </td>
          <td style="width: 50.01%; vertical-align: top;">
            <div>On or after June 1, 2031 (2031 Notes)</div>
            <div>On or after March 1, 2051 (2051 Notes)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 49.99%; vertical-align: top;">&#160;</td>
          <td style="width: 50.01%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 49.99%; vertical-align: top;">
            <div>Proceeds, Before Expenses:</div>
          </td>
          <td style="width: 50.01%; vertical-align: top;">
            <div>$995,130,000 (2031 Notes)</div>
            <div>$990,230,000 (2051 Notes)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 49.99%; vertical-align: top;">&#160;</td>
          <td style="width: 50.01%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 49.99%; vertical-align: top;">
            <div>Trade Date:</div>
          </td>
          <td style="width: 50.01%; vertical-align: top;">
            <div>August 4, 2021</div>
          </td>
        </tr>
        <tr>
          <td style="width: 49.99%; vertical-align: top;">&#160;</td>
          <td style="width: 50.01%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 49.99%; vertical-align: top;">
            <div>Settlement Date:</div>
          </td>
          <td style="width: 50.01%; vertical-align: top;">
            <div>August 10, 2021 (T+4)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 49.99%; vertical-align: top;">&#160;</td>
          <td style="width: 50.01%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 49.99%; vertical-align: top;">
            <div>CUSIP:</div>
          </td>
          <td style="width: 50.01%; vertical-align: top;">
            <div>75513ECM1 (2031 Notes)</div>
            <div>75513ECL3 (2051 Notes)</div>
          </td>
        </tr>

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        <tr>
          <td style="width: 49.89%; vertical-align: top;">
            <div>ISIN:</div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div>US75513ECM12 (2031 Notes)</div>
            <div>US75513ECL39 (2051 Notes)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 49.89%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 49.89%; vertical-align: top;">
            <div>Denominations:</div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div>$2,000 x $1,000</div>
          </td>
        </tr>
        <tr>
          <td style="width: 49.89%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
        </tr>
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          <td style="width: 49.89%; vertical-align: top;">
            <div>Ratings*:</div>
          </td>
          <td style="width: 50%; vertical-align: top;"> Baa1/A- (stable/negative)<br>
          </td>
        </tr>
        <tr>
          <td style="width: 49.89%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
        </tr>

    </table>
    <div style="text-align: justify; font-weight: bold;">
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zda7b5035c1d24e5a86ce3dddd6aa27a0" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 49.89%; vertical-align: top;">
              <div>Joint Book-Running Managers:</div>
            </td>
            <td style="width: 50%; vertical-align: top;">
              <div>Citigroup Global Markets Inc.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 49.89%; vertical-align: top;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">
              <div>Deutsche Bank Securities Inc.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 49.89%; vertical-align: top;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">
              <div>Goldman Sachs &amp; Co. LLC</div>
            </td>
          </tr>
          <tr>
            <td style="width: 49.89%; vertical-align: top;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">
              <div>Morgan Stanley &amp; Co. LLC</div>
            </td>
          </tr>
          <tr>
            <td style="width: 49.89%; vertical-align: top;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">
              <div>BNP Paribas Securities Corp.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 49.89%; vertical-align: top;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">
              <div>BofA Securities, Inc.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 49.89%; vertical-align: top;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">
              <div>J.P. Morgan Securities LLC</div>
            </td>
          </tr>
          <tr>
            <td rowspan="1" style="width: 49.89%; vertical-align: top;">&#160;</td>
            <td rowspan="1" style="width: 50%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 49.89%; vertical-align: top;">
              <div>Senior Co-Managers:</div>
            </td>
            <td style="width: 50%; vertical-align: top;">
              <div>Barclays Capital Inc.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 49.89%; vertical-align: top;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">
              <div>Credit Agricole Securities (USA) Inc.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 49.89%; vertical-align: top;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">
              <div>Mizuho Securities USA LLC</div>
            </td>
          </tr>
          <tr>
            <td style="width: 49.89%; vertical-align: top;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">
              <div>MUFG Securities Americas Inc.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 49.89%; vertical-align: top;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">
              <div>RBC Capital Markets, LLC</div>
            </td>
          </tr>
          <tr>
            <td style="width: 49.89%; vertical-align: top;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">
              <div>SMBC Nikko Securities America, Inc.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 49.89%; vertical-align: top;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">
              <div>UniCredit Capital Markets, LLC</div>
            </td>
          </tr>
          <tr>
            <td style="width: 49.89%; vertical-align: top;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">
              <div>Wells Fargo Securities, LLC</div>
            </td>
          </tr>
          <tr>
            <td rowspan="1" style="width: 49.89%; vertical-align: top;">&#160;</td>
            <td rowspan="1" style="width: 50%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 49.89%; vertical-align: top;">
              <div>Co-Managers:</div>
            </td>
            <td style="width: 50%; vertical-align: top;">
              <div>Academy Securities, Inc.&#160;&#160;&#160; <br>
                ANZ Securities, Inc.&#160;&#160;&#160; <br>
                BMO Capital Markets Corp.&#160;&#160;&#160; <br>
                BNY Mellon Capital Markets, LLC&#160;&#160;&#160; <br>
                Credit Suisse Securities (USA) LLC&#160;&#160;&#160; <br>
                Scotia Capital (USA) Inc.&#160;&#160;&#160; <br>
                U.S. Bancorp Investments, Inc.&#160;&#160;&#160; <br>
                Siebert Williams Shank &amp; Co., LLC&#160;&#160;&#160; <br>
                Blaylock Van, LLC&#160;&#160;&#160; <br>
                CastleOak Securities, L.P.&#160;&#160;&#160; <br>
                C.L. King &amp; Associates, Inc.&#160;&#160;&#160; <br>
                Loop Capital Markets LLC&#160;&#160;&#160; <br>
                MFR Securities, Inc.<br>
              </div>
            </td>
          </tr>

      </table>
    </div>
    <div style="text-align: justify; font-weight: bold;"> <br>
    </div>
    <div style="text-align: justify; font-weight: bold;"> <br>
    </div>
    <div style="text-align: justify; 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-weight: bold;"> <br>
    </div>
    <div style="text-align: justify; 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 Citigroup Global Markets Inc. (toll-free) at 1-800-831-9146, Deutsche
      Bank Securities Inc. (toll-free) at 1-800-503-4611, Morgan Stanley &amp; Co. LLC at 1-866-718-1649 or Goldman Sachs &amp; Co. LLC at 1-866-471-2526.</div>
    <div style="text-align: justify; font-weight: bold;"> <br>
    </div>
    <div style="text-align: justify; font-weight: bold;">Any disclaimer or other notice that may appear below is not applicable to this communication and should be disregarded. Such disclaimer or notice was automatically generated as a result of this
      communication being sent by Bloomberg or another email system.<br>
      <div><br>
      </div>
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