<SEC-DOCUMENT>0000930413-25-000835.txt : 20250305
<SEC-HEADER>0000930413-25-000835.hdr.sgml : 20250305
<ACCEPTANCE-DATETIME>20250304195546
ACCESSION NUMBER:		0000930413-25-000835
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250305
DATE AS OF CHANGE:		20250304

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FIRST HORIZON CORP
		CENTRAL INDEX KEY:			0000036966
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		ORGANIZATION NAME:           	02 Finance
		IRS NUMBER:				620803242
		STATE OF INCORPORATION:			TN
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-264514
		FILM NUMBER:		25707966

	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]
		ORGANIZATION NAME:           	02 Finance
		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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<SEQUENCE>1
<FILENAME>c111959_fwp.htm
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0.25in; text-align: right"><B>Filed Pursuant to Rule 433<BR>
Registration No. 333-264514</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>First Horizon Corporation</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>$500,000,000 5.514% Fixed Rate / Floating Rate
Senior Notes due 2031</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>Term Sheet</B></P>

<P STYLE="font: 12pt 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 Notes&rdquo; in the preliminary prospectus supplement dated March 4, 2025 (the &ldquo;<U>Prospectus
Supplement</U>&rdquo;) and the accompanying prospectus dated April 27, 2022.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 35%; padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt">Issuer:</FONT></TD>
    <TD STYLE="width: 65%; padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt">First Horizon Corporation (the &ldquo;<U>Company</U>&rdquo;)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt">Type of Offering:</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt">SEC Registered</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt">Trade Date:</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt">March 4, 2025</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt">Settlement Date*:</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt">March 7, 2025 (T+3 days)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt">Title of Security:</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt">5.514% Fixed Rate / Floating Rate Senior Notes due 2031 (the &ldquo;Notes&rdquo;)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt">Maturity Date:</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt">March 7, 2031</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt">Principal Amount:</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt">$500,000,000</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt">Fixed Rate Period:</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt">From, and including, March 7, 2025 to, but excluding, March 7, 2030</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt">Floating Rate Period:</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt">From, and including, March 7, 2030 to, but excluding, March 7, 2031</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt">Benchmark Treasury:</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt">4.000% due February 28, 2030</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt">Benchmark Treasury Price and Yield:</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt">100-02 &frac14;;
    3.984%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt">Re-offer Spread to Benchmark Treasury:</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt">+153 bps</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt">Re-offer Yield:</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt">5.514%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt">Public Offering Price:</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt">100.000% of principal amount</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt">Net Proceeds to Issuer (before expenses):</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt">$498,250,000</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt">Coupon:</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in"><FONT STYLE="font-size: 11pt"><I>Fixed Rate Period</I>: 5.514% per annum</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

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  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in; width: 35%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in; width: 65%"><FONT STYLE="font-size: 11pt"><I>Floating Rate Period</I>: Compounded SOFR, determined as set forth under &ldquo;Description of the Notes&mdash;Compounded SOFR&rdquo; in the Prospectus Supplement, plus 1.766%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt">Interest Payment Dates:</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt"><I>Fixed Rate Period</I>: Semi-annually on March 7 and September 7, commencing September 7, 2025 and ending on March 7, 2030</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in">&nbsp;</TD>
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt"><I>Floating Rate Period</I>: June 7, 2030, September 7, 2030, December 7, 2030, and the Maturity Date</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt">Expected Security Ratings**:</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt">Baa3 (Stable) / BBB+ (Stable) (Moody&rsquo;s / Fitch)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt">Redemption:</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt">On or after September 3, 2025 (180 days from March 7, 2025) (or,
    if additional notes are issued thereafter, beginning 180 days after the issue date of such additional notes) and prior to March 7, 2030
    (one year prior to the Maturity Date) (the &ldquo;<U>Par Call Date</U>&rdquo;), the Company may, at its option, redeem the Notes, in whole
    or in part, at any time and from time to time, at a redemption price (expressed as a percentage of the principal amount and rounded to
    three decimal places), equal to the greater of:</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Symbol; font-size: 11pt">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT><FONT STYLE="font-size: 11pt">(a) the sum of the present values of the remaining scheduled payments of principal and interest on
    the Notes to be redeemed, discounted to the redemption date (assuming that the Notes to be redeemed matured on the Par Call Date) on a
    semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the applicable Treasury Rate (as defined in the Prospectus
    Supplement) plus 25 basis points less (b) interest accrued on the Notes to be redeemed to the date of redemption, and</FONT></P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in">&nbsp;</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in"><FONT STYLE="font-family: Symbol; font-size: 11pt">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT><FONT STYLE="font-size: 11pt">100% of the principal amount of the Notes to be redeemed;</FONT></P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt">plus, in either case, accrued and unpaid interest thereon, if any,
    to, but excluding, the redemption date.</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt">In addition, on the Par Call Date, the Company may redeem the Notes,
    in whole, but not in part, at a redemption price equal to 100% of the principal amount of the Notes being redeemed, plus accrued and unpaid
    interest thereon, if any, to, but excluding, the redemption date. At any time and from time to time on or after February 5, 2031 (30 days
    prior to the Maturity Date), the Company may redeem the Notes in whole or in part at a redemption price equal to 100% of the principal
    amount of the Notes being redeemed, plus accrued and unpaid interest thereon, if any, to, but excluding, the redemption date.</P></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

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  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in; width: 35%"><FONT STYLE="font-size: 11pt">Day Count Convention:</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in; width: 65%"><FONT STYLE="font-size: 11pt"><I>Fixed Rate Period</I>: 30/360</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in">&nbsp;</TD>
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt"><I>Floating Rate Period</I>: Actual/360</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt">Minimum Denominations/&zwnj;Multiples:</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt">$2,000 / $1,000</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt">Joint Book-Running Managers:</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Morgan Stanley&nbsp;&amp; Co. LLC</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">BofA Securities, Inc.</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Citigroup Global Markets Inc.</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">FHN Financial Securities Corp.</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt">Goldman Sachs &amp; Co. LLC</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt">CUSIP:</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt">320517 AE5 </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt">ISIN:</FONT></TD>
    <TD STYLE="padding-right: 0.1in; padding-bottom: 12pt; padding-left: 0.1in"><FONT STYLE="font-size: 11pt">US320517AE51 </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">*The issuer expects that delivery of the Notes
will be made against payment therefor on or about the third business day following the date of pricing of the Notes (this settlement cycle
being referred to as &ldquo;T+3&rdquo;). Under Rule 15c6-1 of the Securities Exchange Act of 1934, trades in the secondary market generally
are required to settle in one business day, unless the parties to a trade expressly agree otherwise. Accordingly, purchasers who wish
to trade the Notes on any day prior to one business day before delivery will be required to specify alternative settlement arrangements
at the time of any such trade to prevent a failed settlement and should consult their own advisors.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; 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: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>The issuer has filed a registration statement
(including the Prospectus Supplement and the accompanying prospectus) with the Securities and Exchange Commission, or SEC, for the offering
to which this communication relates. Before you invest, you should read the Prospectus Supplement, the accompanying prospectus and the
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 these documents if you request them by contacting Morgan Stanley &amp; Co. LLC toll-free at 1-866-718-1649,
BofA Securities, Inc. toll-free at 1-800-294-1322, Citigroup Global Markets Inc. toll-free at 1-800-831-9146, FHN Financial Securities
Corp. toll-free at 1-800-456-5460 or Goldman Sachs &amp; Co. LLC toll-free at 1-866-471-2526.</B></P>

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