<SEC-DOCUMENT>0000930413-21-000918.txt : 20210429
<SEC-HEADER>0000930413-21-000918.hdr.sgml : 20210429
<ACCEPTANCE-DATETIME>20210428174854
ACCESSION NUMBER:		0000930413-21-000918
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20210429
DATE AS OF CHANGE:		20210428

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FIRST HORIZON CORP
		CENTRAL INDEX KEY:			0000036966
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		IRS NUMBER:				620803242
		STATE OF INCORPORATION:			TN
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-229338
		FILM NUMBER:		21865935

	BUSINESS ADDRESS:	
		STREET 1:		165 MADISON AVENUE
		CITY:			MEMPHIS
		STATE:			TN
		ZIP:			38103
		BUSINESS PHONE:		9018186232

	MAIL ADDRESS:	
		STREET 1:		165 MADISON AVENUE
		CITY:			MEMPHIS
		STATE:			TN
		ZIP:			38103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIRST HORIZON NATIONAL CORP
		DATE OF NAME CHANGE:	20040422

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIRST TENNESSEE NATIONAL CORP
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIRST TENNESSEE BANKS INC
		DATE OF NAME CHANGE:	19600201

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FIRST HORIZON CORP
		CENTRAL INDEX KEY:			0000036966
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		IRS NUMBER:				620803242
		STATE OF INCORPORATION:			TN
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		165 MADISON AVENUE
		CITY:			MEMPHIS
		STATE:			TN
		ZIP:			38103
		BUSINESS PHONE:		9018186232

	MAIL ADDRESS:	
		STREET 1:		165 MADISON AVENUE
		CITY:			MEMPHIS
		STATE:			TN
		ZIP:			38103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIRST HORIZON NATIONAL CORP
		DATE OF NAME CHANGE:	20040422

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIRST TENNESSEE NATIONAL CORP
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIRST TENNESSEE BANKS INC
		DATE OF NAME CHANGE:	19600201
</SEC-HEADER>
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<FILENAME>c101640_fwp.htm
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right">Filed Pursuant to Rule 433<BR>
Registration No. 333-229338<BR>
April 28, 2021</P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">First Horizon Corporation<BR>
<BR>
6,000,000 Depositary Shares<BR>
Each Representing 1/4,000<SUP>th</SUP> Interest in a Share of<BR>
Non-Cumulative Perpetual Preferred Stock, Series F<BR>
<BR>
Pricing Term Sheet</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">This term sheet supplements the information
set forth under &ldquo;Description of the Series F Preferred Stock&rdquo; in the preliminary prospectus supplement, dated April 28, 2021,
to the prospectus, dated January&nbsp;23, 2019.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 46%; padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 4.5pt; text-align: left">Issuer:</TD>
    <TD STYLE="width: 54%; padding-right: 4.5pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify">First Horizon Corporation</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 4.5pt; text-align: left">Security:</TD>
    <TD STYLE="padding-right: 4.5pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify">Depositary shares (the &ldquo;Depositary Shares&rdquo;) each representing a 1/4,000<SUP>th </SUP>ownership interest in a share of Non-Cumulative Perpetual Preferred Stock, Series F of the Issuer (the &ldquo;Series F Preferred Stock&rdquo;)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 4.5pt; text-align: left">Expected Security Ratings:*</TD>
    <TD STYLE="padding-right: 4.5pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify">Ba2 (stable) / BB- (stable) (Moody&rsquo;s / Fitch)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 4.5pt; text-align: left">Size:</TD>
    <TD STYLE="padding-right: 4.5pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify">$150,000,000 (6,000,000 Depositary Shares)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 4.5pt; text-align: left">Liquidation Preference:</TD>
    <TD STYLE="padding-right: 4.5pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify">$25 per Depositary Share (equivalent to $100,000 per share of Series F Preferred Stock)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 4.5pt; text-align: left">Term:</TD>
    <TD STYLE="padding-right: 4.5pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify">Perpetual</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 4.5pt; text-align: left">Dividend Rate (Non-Cumulative):</TD>
    <TD STYLE="padding-right: 4.5pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify">4.70% per annum, only when, as and if declared</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 4.5pt; text-align: left">Dividend Payment Dates:</TD>
    <TD STYLE="padding-right: 4.5pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify">Quarterly in arrears on January&nbsp;10, April&nbsp;10, July 10 and October&nbsp;10 of each year, commencing on July 10, 2021</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 4.5pt; text-align: left">Day Count:</TD>
    <TD STYLE="padding-right: 4.5pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify">30/360</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 4.5pt; text-align: left">Trade Date:</TD>
    <TD STYLE="padding-right: 4.5pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify">April 28, 2021</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 4.5pt; text-align: left">Settlement Date**:</TD>
    <TD STYLE="padding-right: 4.5pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify">May&nbsp;3, 2021 (T+3)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 4.5pt; text-align: left">Optional Redemption:</TD>
    <TD STYLE="padding-right: 4.5pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify">The Issuer may, at its option, redeem the Series F Preferred Stock (i) in whole or in part, from time to time, on any dividend payment date on or after July 10, 2026, or (ii) in whole, but not in part, at any time within 90 days following a Regulatory Capital Event (as defined in the preliminary </TD></TR>
</TABLE>
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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 4.5pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-right: 4.5pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify">prospectus supplement dated April 28, 2021), at a redemption price equal to $100,000 per share of Series F Preferred Stock (equivalent to $25 per Depositary Share), plus any declared and unpaid dividends.&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 4.5pt; text-align: left; width: 46%">Listing:</TD>
    <TD STYLE="padding-right: 4.5pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify; width: 54%">Application will be made to list the Depositary Shares on the New York Stock Exchange under the symbol &ldquo;FHN PrF&rdquo;.&nbsp;&nbsp;If the application is approved, trading of the Depositary Shares on the New York Stock Exchange is expected to commence within a 30-day period after the initial delivery of the Depositary Shares.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 4.5pt; text-align: left">Public Offering Price:</TD>
    <TD STYLE="padding-right: 4.5pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify">$25.00 per Depositary Share</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 4.5pt; text-align: left">Underwriting Discounts and Commissions:</TD>
    <TD STYLE="padding-right: 4.5pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify">$0.6304 per Depositary Share<SUP>1</SUP></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 4.5pt; text-align: left">Net Proceeds (before expenses) to Issuer:</TD>
    <TD STYLE="padding-right: 4.5pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify">$146,217,356.25</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 4.5pt; text-align: left">Joint Book-Running Managers:</TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Morgan Stanley &amp; Co. LLC<BR>
    BofA Securities, Inc.</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">J.P. Morgan Securities LLC</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Keefe, Bruyette &amp; Woods, Inc.</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 4.5pt 12pt 0; text-align: left">RBC Capital Markets, LLC<BR>
    Wells Fargo Securities, LLC</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 12pt; padding-left: 4.5pt; text-align: left">CUSIP/ISIN for the Depositary Shares:</TD>
    <TD STYLE="padding-right: 4.5pt; padding-bottom: 12pt; padding-left: 5.75pt; text-align: justify">320517 865 / US3205178656</TD></TR>
  </TABLE>
  <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Change from Preliminary Prospectus Supplement</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition to the information set forth above, the
final prospectus supplement will reflect the following change (and information in the preliminary prospectus supplement is deemed to have
changed to the extent affected thereby):</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Over-Allotment Option</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The underwriters will not have an over-allotment option
to purchase additional depositary shares.</P>


<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0.25in 0 12pt; text-align: center">
<IMG SRC="image_001.jpg" ALT="" STYLE="height: 2px; width: 290px"></p>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">* A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.</P>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">** The issuer expects that delivery of the
Depositary Shares will be made against payment therefor on or about the third business day following the date of pricing of the Depositary
Shares (this settlement cycle being referred to as &ldquo;T+3&rdquo;). Accordingly, purchasers who wish to trade the Depositary Shares
on the date of pricing will be required, by virtue of the fact that the Depositary Shares initially will settle in T+3, to specify an
alternate settlement cycle at the time of any such trade to prevent a failed settlement. Purchasers of the Depositary Shares who wish
to trade their </P>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Depositary Shares on the date of pricing or the next two succeeding business days should consult their own advisors.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><SUP>1</SUP> Reflects 2,284,500 Depositary
Shares sold to institutional investors, for which the underwriters received an underwriting discount of $0.3750 per Depositary Share,
and 3,715,500 Depositary Shares sold to retail investors, for which the underwriters received an underwriting discount of $0.7875 per
Depositary Share.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Depositary Shares are not deposits or obligations
of a bank and are not insured or guaranteed by the Federal Deposit Insurance Corporation or by any other government agency or instrumentality.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">First Horizon Corporation has filed a registration
statement (including a prospectus and preliminary prospectus supplement) with the SEC for the offering to which this communication relates.
Before you invest, you should read each of these documents and the other documents First Horizon Corporation has filed with the SEC and
incorporated by reference in such documents for more complete information about First Horizon Corporation and this offering. You may get
these documents for free by visiting EDGAR on the SEC website at <u>www.sec.gov</u>. Alternatively, you may
obtain a copy of these documents by calling Morgan Stanley &amp; Co. LLC toll free at 866-718-1649, BofA Securities, Inc. toll free at
1-800-294-1322, J.P. Morgan Securities LLC toll free at 212-834-4533, Keefe, Bruyette &amp; Woods, Inc. toll free at 1-800-966-1559, RBC
Capital Markets, LLC toll free at 866-375-6829 or Wells Fargo Securities, LLC toll free at 1-800-645-3751.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
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