<SEC-DOCUMENT>0001193125-21-024991.txt : 20210202
<SEC-HEADER>0001193125-21-024991.hdr.sgml : 20210202
<ACCEPTANCE-DATETIME>20210201212158
ACCESSION NUMBER:		0001193125-21-024991
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20210202
DATE AS OF CHANGE:		20210201

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:	333-249743
		FILM NUMBER:		21578674

	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>d104926dfwp.htm
<DESCRIPTION>FINAL TERM SHEET
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<TITLE>FINAL TERM SHEET</TITLE>
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 <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;333-249743</FONT> </B></P>
<P STYLE="margin-top:12pt; 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;1, 2021 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>2.450% Notes due 2032 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>3.400% Notes due 2041 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>3.700% Notes due 2051 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>4.000% Notes due 2061 </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 HEIGHT="8"></TD>
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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">2032 Notes: $1,750,000,000 <BR>2041 Notes: $1,500,000,000 <BR>2051 Notes: $1,250,000,000 <BR>2061 Notes: $1,000,000,000</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">2032 Notes: February&nbsp;4, 2032 <BR>2041 Notes: February&nbsp;4, 2041 <BR>2051 Notes: February&nbsp;4, 2051</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">2061 Notes: February&nbsp;4, 2061</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>Coupon:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">2032 Notes: 2.450% <BR>2041 Notes: 3.400% <BR>2051 Notes: 3.700% <BR>2061 Notes: 4.000%</TD></TR>
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<TD HEIGHT="8" COLSPAN="2"></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">2032 Notes: Semi-annually on February&nbsp;4 and August&nbsp;4, commencing August&nbsp;4, 2021 <BR>2041 Notes: Semi-annually on
February&nbsp;4 and August&nbsp;4, commencing August&nbsp;4, 2021</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2051 Notes: Semi-annually on February&nbsp;4 and August&nbsp;4, commencing August&nbsp;4,
2021</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">2061 Notes: Semi-annually on February&nbsp;4 and August&nbsp;4, commencing August&nbsp;4, 2021</P></TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></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>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">2032 Notes: 99.895% of principal amount</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">2041
Notes: 99.411% of principal amount <BR>2051 Notes: 99.265% of principal amount <BR>2061 Notes: 99.190% of principal amount</P></TD></TR>
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<TD VALIGN="top"><B>Benchmark Treasury:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2032 Notes: 0.875% UST due November&nbsp;15, 2030</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2041 Notes: 1.375% UST due November&nbsp;15, 2040</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2051 Notes:
1.375% UST due August&nbsp;15, 2050</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">2061 Notes: 1.375% UST due August&nbsp;15, 2050</P></TD></TR>
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<TD VALIGN="top"><B>Benchmark Treasury Yield:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2032 Notes: 1.081%</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2041 Notes: 1.661% <BR>2051
Notes: 1.861%</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">2061 Notes: 1.861%</P></TD></TR>
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<TD VALIGN="top"><B>Spread to Benchmark Treasury:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2032 Notes: +138 bps</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2041 Notes: +178 bps</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2051 Notes: +188 bps</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">2061 Notes: +218 bps</P></TD></TR>
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<TD VALIGN="top"><B>Yield to Maturity:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2032 Notes: 2.461%</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2041 Notes: 3.441%</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2051 Notes: 3.741%</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">2061 Notes: 4.041%</P></TD></TR>
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<TD VALIGN="top"><B>Optional Redemption:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2032 Notes: Make-whole call at T+20 bps prior to November&nbsp;4, 2031; par call on or after November&nbsp;4, 2031</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2041 Notes: Make-whole call at T+25 bps prior to August&nbsp;4, 2040; par call on or after August&nbsp;4, 2040</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2051 Notes: Make-whole call at T+30 bps prior to August&nbsp;4, 2050; par call on or after August&nbsp;4, 2050</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">2061 Notes: Make-whole call at T+35 bps prior to August&nbsp;4, 2060; par call on or after August&nbsp;4, 2060</P></TD></TR>
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<TD VALIGN="top"><B>Trade Date:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">February&nbsp;1, 2021</TD></TR>
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<TD VALIGN="top"><B>Settlement Date (T+3):</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">February&nbsp;4, 2021. It is expected that delivery of each series of Notes will be made against payment therefor on or about February&nbsp;4, 2021, which is the third business day following the date hereof (such settlement cycle
being referred to as &#147;T+3&#148;). Under Rule <FONT STYLE="white-space:nowrap">15c6-1</FONT> under the Securities Exchange Act of 1934, as amended, 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 the Notes prior to the second business day before delivery thereof will be required, by virtue of the fact that the Notes will initially settle in T+3, to
specify an alternative settlement cycle at the time of any such trade to prevent a failed settlement and should consult their own advisors.</TD></TR>
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<TD VALIGN="top"><B>CUSIP / ISIN:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:6.00em; text-indent:-6.00em; font-size:10pt; font-family:Times New Roman">2032&nbsp;Notes:&#8195;&#8202;CUSIP: 02209S BL6</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:6.00em; font-size:10pt; font-family:Times New Roman">ISIN: US02209SBL60</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:6.00em; text-indent:-6.00em; font-size:10pt; font-family:Times New Roman">2041&nbsp;Notes:&#8195;&#8202;CUSIP: 02209S BM4 <BR>ISIN: US02209SBM44</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:6.00em; text-indent:-6.00em; font-size:10pt; font-family:Times New Roman">2051&nbsp;Notes:&#8195;&#8202;CUSIP: 02209S BN2 <BR>ISIN: US02209SBN27</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:6.00em; text-indent:-6.00em; font-size:10pt; font-family:Times New Roman">2061&nbsp;Notes:&#8195;&#8202;CUSIP: 02209S BP7 <BR>ISIN: US02209SBP74</P></TD></TR>
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<TD VALIGN="top"><B>Listing:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">None.</TD></TR>
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<TD VALIGN="top"><B>Joint Book-Running Managers:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <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">Morgan Stanley&nbsp;&amp; Co. LLC</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Mizuho
Securities USA 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"><B>Senior <FONT STYLE="white-space:nowrap">Co-Managers:</FONT></B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Barclays Capital Inc.</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Citigroup Global Markets
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: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">Santander Investment Securities Inc.</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Scotia Capital (USA)
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 VALIGN="top"><B><FONT STYLE="white-space:nowrap">Co-Managers:</FONT></B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Intesa Sanpaolo S.p.A. <BR>PNC Capital Markets LLC</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Academy Securities, Inc. <BR>Loop Capital Markets LLC</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Siebert
Williams Shank&nbsp;&amp; Co., LLC</P></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<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) and a preliminary prospectus supplement each with the SEC for the offering to which
this communication relates. Before you invest, you should read the prospectus in that registration statement, that preliminary prospectus supplement 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 and the
preliminary prospectus supplement upon your request by calling Credit Suisse Securities (USA) LLC toll free at <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1-800-221-1037;</FONT></FONT></FONT>
Deutsche Bank Securities Inc. toll free at <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1-800-503-4611;</FONT></FONT></FONT> Morgan Stanley&nbsp;&amp; Co. LLC toll free at <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1-866-718-1649;</FONT></FONT></FONT> or Mizuho Securities USA LLC toll free 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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