<SEC-DOCUMENT>0001193125-19-036428.txt : 20190213
<SEC-HEADER>0001193125-19-036428.hdr.sgml : 20190213
<ACCEPTANCE-DATETIME>20190212215932
ACCESSION NUMBER:		0001193125-19-036428
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20190213
DATE AS OF CHANGE:		20190212

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ALTRIA GROUP, INC.
		CENTRAL INDEX KEY:			0000764180
		STANDARD INDUSTRIAL CLASSIFICATION:	CIGARETTES [2111]
		IRS NUMBER:				133260245
		STATE OF INCORPORATION:			VA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-221133
		FILM NUMBER:		19593075

	BUSINESS ADDRESS:	
		STREET 1:		6601 WEST BROAD STREET
		CITY:			RICHMOND
		STATE:			VA
		ZIP:			23230
		BUSINESS PHONE:		(804) 274-2200

	MAIL ADDRESS:	
		STREET 1:		6601 WEST BROAD STREET
		CITY:			RICHMOND
		STATE:			VA
		ZIP:			23230

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALTRIA GROUP INC
		DATE OF NAME CHANGE:	20030127

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PHILIP MORRIS COMPANIES INC
		DATE OF NAME CHANGE:	19920703

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ALTRIA GROUP, INC.
		CENTRAL INDEX KEY:			0000764180
		STANDARD INDUSTRIAL CLASSIFICATION:	CIGARETTES [2111]
		IRS NUMBER:				133260245
		STATE OF INCORPORATION:			VA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		6601 WEST BROAD STREET
		CITY:			RICHMOND
		STATE:			VA
		ZIP:			23230
		BUSINESS PHONE:		(804) 274-2200

	MAIL ADDRESS:	
		STREET 1:		6601 WEST BROAD STREET
		CITY:			RICHMOND
		STATE:			VA
		ZIP:			23230

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALTRIA GROUP INC
		DATE OF NAME CHANGE:	20030127

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PHILIP MORRIS COMPANIES INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>FWP
<SEQUENCE>1
<FILENAME>d704518dfwp.htm
<DESCRIPTION>FINAL TERM SHEET
<TEXT>
<HTML><HEAD>
<TITLE>FINAL TERM SHEET</TITLE>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Filed Pursuant to Rule 433 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Registration <FONT STYLE="white-space:nowrap">No.&nbsp;333-221133</FONT> </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>FINAL TERM SHEET </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Dated
February&nbsp;12, 2019 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>3.490% Notes due 2022 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>3.800% Notes due 2024 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>4.400% Notes due 2026 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>4.800% Notes due 2029 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>5.800% Notes due 2039 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>5.950% Notes due 2049 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>6.200% Notes due 2059 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Issuer:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Altria Group, Inc.</TD></TR>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Guarantor:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Philip Morris USA Inc.</TD></TR>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Aggregate Principal Amount:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">2022 Notes: $1,000,000,000 <BR>2024 Notes: $1,000,000,000 <BR>2026 Notes: $1,500,000,000 <BR>2029 Notes: $3,000,000,000 <BR>2039 Notes: $2,000,000,000 <BR>2049 Notes: $2,500,000,000 <BR>2059 Notes: $500,000,000</TD></TR>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Maturity Date:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2022 Notes: February&nbsp;14, 2022 <BR>2024 Notes: February&nbsp;14, 2024 <BR>2026 Notes: February&nbsp;14, 2026</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">2029 Notes: February&nbsp;14, 2029 <BR>2039 Notes: February&nbsp;14, 2039 <BR>2049 Notes: February&nbsp;14, 2049 <BR>2059 Notes: February&nbsp;14,
2059</P></TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Coupon:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">2022 Notes: 3.490% <BR>2024 Notes: 3.800% <BR>2026 Notes: 4.400% <BR>2029 Notes: 4.800% <BR>2039 Notes: 5.800% <BR>2049 Notes: 5.950% <BR>2059 Notes: 6.200%</TD></TR>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Interest Payment Dates:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2022 Notes: Semi-annually on February&nbsp;14 and August&nbsp;14, commencing August&nbsp;14, 2019 <BR>2024 Notes: Semi-annually on
February&nbsp;14 and August&nbsp;14, commencing August&nbsp;14, 2019 <BR>2026 Notes: Semi-annually on February&nbsp;14 and August&nbsp;14, commencing August&nbsp;14, 2019</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">2029 Notes: Semi-annually on February&nbsp;14 and August&nbsp;14, commencing August&nbsp;14, 2019 <BR>2039 Notes: Semi-annually on February&nbsp;14 and
August&nbsp;14, commencing August&nbsp;14, 2019 <BR>2049 Notes: Semi-annually on February&nbsp;14 and August&nbsp;14, commencing August&nbsp;14, 2019 <BR>2059 Notes: Semi-annually on February&nbsp;14 and August&nbsp;14, commencing August&nbsp;14,
2019</P></TD></TR></TABLE>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Price to Public:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2022 Notes: 99.994% of principal amount</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">2024
Notes: 99.797% of principal amount <BR>2026 Notes: 99.791% of principal amount <BR>2029 Notes: 99.717% of principal amount <BR>2039 Notes: 99.765% of principal amount <BR>2049 Notes: 99.722% of principal amount <BR>2059 Notes: 99.706% of principal
amount</P></TD></TR>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Benchmark Treasury:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2022 Notes: 2.500% UST due February&nbsp;15, 2022.</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">2024 Notes: 2.500% UST due January&nbsp;31, 2024. <BR>2026 Notes: 2.625% UST due January&nbsp;31, 2026. <BR>2029 Notes: 2.625% UST due February&nbsp;15, 2029.
<BR>2039 Notes: 3.375% UST due November&nbsp;15, 2048. <BR>2049 Notes: 3.375% UST due November&nbsp;15, 2048. <BR>2059 Notes: 3.375% UST due November&nbsp;15, 2048.</P></TD></TR>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Benchmark Treasury Yield:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2022 Notes: 2.492%</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">2024 Notes: 2.495%
<BR>2026 Notes: 2.585% <BR>2029 Notes: 2.686% <BR>2039 Notes: 3.020% <BR>2049 Notes: 3.020% <BR>2059 Notes: 3.020%</P></TD></TR>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Spread to Benchmark Treasury:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2022 Notes: +100 bps</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">2024 Notes: +135 bps
<BR>2026 Notes: +185 bps <BR>2029 Notes: +215 bps <BR>2039 Notes: +280 bps <BR>2049 Notes: +295 bps <BR>2059 Notes: +320 bps</P></TD></TR>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Yield to Maturity:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2022 Notes: 3.492%</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">2024 Notes: 3.845%
<BR>2026 Notes: 4.435% <BR>2029 Notes: 4.836% <BR>2039 Notes: 5.820% <BR>2049 Notes: 5.970% <BR>2059 Notes: 6.220%</P></TD></TR>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Optional Redemption:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2022 Notes: Make-whole call at T+15 bps at any time.</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2024 Notes: Make-whole call at T+25 bps prior to January&nbsp;14, 2024; par call on or after January&nbsp;14, 2024.</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">2026 Notes: Make-whole call at T+30 bps prior to December&nbsp;14, 2025; par call on or after December&nbsp;14, 2025. <BR>2029 Notes: Make-whole call at T+35
bps prior to November&nbsp;14, 2028; par call on or after November&nbsp;14, 2028. <BR>2039 Notes: Make-whole call at T+45 bps prior to August&nbsp;14, 2038; par call on or after August&nbsp;14, 2038. <BR>2049 Notes: Make-whole call at T+45 bps prior
to August&nbsp;14, 2048; par call on or after August&nbsp;14, 2048. <BR>2059 Notes: Make-whole call at T+50 bps prior to August&nbsp;14, 2058; par call on or after August&nbsp;14,
2058.</P></TD></TR></TABLE>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Trade Date:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">February&nbsp;12, 2019</TD></TR>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Settlement Date (T+2):</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">February&nbsp;14, 2019</TD></TR>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>CUSIP / ISIN:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2022 Notes:CUSIP: 02209S BA0 <BR>ISIN: US02209SBA06</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">2024 Notes:CUSIP: 02209S BB8 <BR>ISIN: US02209SBB88 <BR>2026 Notes:CUSIP: 02209S BC6 <BR>ISIN: US02209SBC61 <BR>2029 Notes:CUSIP: 02209S BD4 <BR>ISIN:
US02209SBD45 <BR>2039 Notes:CUSIP: 02209S BE2 <BR>ISIN: US02209SBE28 <BR>2049 Notes:CUSIP: 02209S BF9 <BR>ISIN: US02209SBF92 <BR>2059 Notes:CUSIP: 02209S BG7 <BR>ISIN: US02209SBG75</P></TD></TR>
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<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Listing:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">None.</TD></TR>
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<TD HEIGHT="8"></TD>
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<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Joint Book-Running Managers:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">J.P. Morgan Securities LLC</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Barclays Capital
Inc. <BR>Citigroup Global Markets Inc.</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mizuho Securities USA LLC</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Credit Suisse Securities (USA) LLC</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Deutsche Bank Securities
Inc.</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Goldman Sachs&nbsp;&amp; Co. LLC</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Scotia Capital (USA)
Inc.</P></TD></TR>
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<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Senior <FONT STYLE="white-space:nowrap">Co-Managers:</FONT></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Morgan Stanley&nbsp;&amp; Co. LLC</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Santander
Investment Securities Inc.</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">U.S. Bancorp Investments, Inc.</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Wells Fargo Securities, LLC</P></TD></TR>
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<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><FONT STYLE="white-space:nowrap">Co-Manager:</FONT></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Telsey Advisory Group LLC</TD></TR>
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<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>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 website 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 J.P. Morgan Securities LLC collect at <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1-212-834-4533,</FONT></FONT></FONT> Barclays Capital Inc. collect at <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">1-888-603-5847,</FONT></FONT></FONT> Citigroup Global Markets Inc. collect at <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1-800-831-9146,</FONT></FONT></FONT> or
Mizuho Securities USA LLC collect at <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1-866-271-7403.</FONT></FONT></FONT> </B></P>
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