<SEC-DOCUMENT>0001193125-20-136625.txt : 20200508
<SEC-HEADER>0001193125-20-136625.hdr.sgml : 20200508
<ACCEPTANCE-DATETIME>20200507203533
ACCESSION NUMBER:		0001193125-20-136625
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20200508
DATE AS OF CHANGE:		20200507

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			STANLEY BLACK & DECKER, INC.
		CENTRAL INDEX KEY:			0000093556
		STANDARD INDUSTRIAL CLASSIFICATION:	CUTLERY, HANDTOOLS & GENERAL HARDWARE [3420]
		IRS NUMBER:				060548860
		STATE OF INCORPORATION:			CT
		FISCAL YEAR END:			1228

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-221127
		FILM NUMBER:		20858375

	BUSINESS ADDRESS:	
		STREET 1:		1000 STANLEY DR
		STREET 2:		P O BOX 7000
		CITY:			NEW BRITAIN
		STATE:			CT
		ZIP:			06053
		BUSINESS PHONE:		8602255111

	MAIL ADDRESS:	
		STREET 1:		1000 STANLEY DR
		CITY:			NEW BRITAIN
		STATE:			CT
		ZIP:			06053

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	STANLEY WORKS
		DATE OF NAME CHANGE:	19920703

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			STANLEY BLACK & DECKER, INC.
		CENTRAL INDEX KEY:			0000093556
		STANDARD INDUSTRIAL CLASSIFICATION:	CUTLERY, HANDTOOLS & GENERAL HARDWARE [3420]
		IRS NUMBER:				060548860
		STATE OF INCORPORATION:			CT
		FISCAL YEAR END:			1228

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		1000 STANLEY DR
		STREET 2:		P O BOX 7000
		CITY:			NEW BRITAIN
		STATE:			CT
		ZIP:			06053
		BUSINESS PHONE:		8602255111

	MAIL ADDRESS:	
		STREET 1:		1000 STANLEY DR
		CITY:			NEW BRITAIN
		STATE:			CT
		ZIP:			06053

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	STANLEY WORKS
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
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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>Free Writing Prospectus </B></P>
<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>To Prospectus dated October&nbsp;25, 2017 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Preliminary Prospectus Supplement dated May&nbsp;7, 2020 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Registration Statement File <FONT STYLE="white-space:nowrap">No.&nbsp;333-221127</FONT> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Pricing Term Sheet </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Stanley Black&nbsp;&amp; Decker, Inc. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Remarketing of </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Series C
Cumulative Perpetual Convertible Preferred Stock </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>The information in this pricing term sheet relates to the remarketing of the Series C Cumulative
Perpetual Convertible Preferred Stock (the &#147;Remarketing&#148;) and should be read together with (i)&nbsp;the preliminary prospectus supplement dated May&nbsp;7, 2020 relating to the Remarketing (the &#147;Preliminary Prospectus
Supplement&#148;), including the documents incorporated by reference therein and (ii)&nbsp;the accompanying prospectus dated October&nbsp;25, 2017, each filed pursuant to Rule 424(b) under the Securities Act of 1933, as amended, Registration
Statement <FONT STYLE="white-space:nowrap">No.&nbsp;333-221127.</FONT> The information in this pricing term sheet supersedes the information in the Preliminary Prospectus Supplement and the accompanying prospectus to the extent inconsistent with the
information in such Preliminary Prospectus Supplement and the accompanying prospectus. </I></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top">Issuer:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Stanley Black&nbsp;&amp; Decker, Inc. (the &#147;<B>Company</B>&#148;), a Connecticut corporation.</TD></TR>
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<TD VALIGN="top">Ticker/Exchange:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">SWK / The New York Stock Exchange.</TD></TR>
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<TD VALIGN="top">Title of Securities:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Series C Cumulative Perpetual Convertible Preferred Stock (the &#147;<B>Convertible Preferred Stock</B>&#148;).</TD></TR>
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<TD VALIGN="top">Format:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">SEC Registered.</TD></TR>
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<TD VALIGN="top">Remarketing Date:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">May&nbsp;7, 2020.</TD></TR>
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<TD VALIGN="top">Remarketing Settlement Date:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">May&nbsp;15, 2020 (T + 5)*.</TD></TR>
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<TD VALIGN="top">Aggregate Number of Shares Remarketed:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">750,000 shares of Convertible Preferred Stock.</TD></TR>
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<TD VALIGN="top">Remarketing Price:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">100%, or $1,000 per share of Convertible Preferred Stock.</TD></TR>
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<TD VALIGN="top">Dividends:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Holders of Convertible Preferred Stock are entitled to receive, when, as and if declared by the Company&#146;s board of directors, cumulative cash dividends (i)&nbsp;from, and including, May&nbsp;15, 2020 to, but excluding, the
Dividend <FONT STYLE="white-space:nowrap">Step-Up</FONT> Date at a fixed rate equal to 5.000% per annum of the $1,000 per share liquidation preference (equivalent to $50.00 per annum per share) and (ii)&nbsp;from, and including, the Dividend <FONT
STYLE="white-space:nowrap">Step-Up</FONT> Date at a fixed rate equal to 10.000% per annum of the $1,000 per share liquidation preference (equivalent to $100.00 per annum per share).</TD></TR>
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<TD VALIGN="top">Dividend <FONT STYLE="white-space:nowrap">Step-Up</FONT> Date:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">May&nbsp;15, 2023.</TD></TR>
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<TD VALIGN="top">Dividend Payment Dates:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">February&nbsp;15, May&nbsp;15, August&nbsp;15 and November&nbsp;15, beginning on August&nbsp;15, 2020.</TD></TR>
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<TD VALIGN="top">Maturity:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">The Convertible Preferred Stock has no maturity date, and will remain outstanding unless converted by holders or redeemed by the Company.</TD></TR>
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<TD VALIGN="top">CUSIP:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">854502 853</TD></TR>
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<TD VALIGN="top">Conversion Rate:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">6.7352 shares of the Company&#146;s common stock per share of Convertible Preferred Stock (subject to adjustment upon occurrence of certain events, as described in the Preliminary Prospectus
Supplement).</TD></TR></TABLE>
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<TD VALIGN="top">Conversion Price:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Approximately $148.47 per share of the Company&#146;s common stock (subject to adjustment upon occurrence of certain events, as described in the Preliminary Prospectus Supplement).</TD></TR>
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<TD VALIGN="top">Settlement Upon Conversion:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Holders of the Convertible Preferred Stock may elect to convert their shares of the Convertible Preferred Stock at any time and from time to time. Conversions of Convertible Preferred Stock will be settled in shares of the
Company&#146;s common stock, cash or a combination of cash and shares of the Company&#146;s common stock, at the Company&#146;s election, unless the Company irrevocably elects a settlement method to apply, as described in the Preliminary Prospectus
Supplement.</TD></TR>
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<TD VALIGN="top">Remarketing Agents:</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">Citigroup Global Markets Inc.</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Credit Suisse
Securities (USA) LLC</P></TD></TR>
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<TD VALIGN="top">Optional Redemption:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">The Company may not redeem the Convertible Preferred Stock prior to May&nbsp;15, 2021. On or after May&nbsp;15, 2021, the Company may redeem for cash all or part of the Convertible Preferred Stock, at the Company&#146;s option, at a
redemption price equal to 100% of the liquidation preference of the shares of the Convertible Preferred Stock to be redeemed, <I>plus</I> any accumulated and unpaid dividends (whether or not declared) to, but excluding, the redemption date. No
&#147;sinking fund&#148; will be provided for the Convertible Preferred Stock.</TD></TR>
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<TD VALIGN="top">Conversion Right and Adjusted Conversion Rate upon Fundamental Change:</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">There will be no make-whole amount of shares of the Company&#146;s common stock or adjustment to the conversion rate for conversions of the
Convertible Preferred Stock in connection with a fundamental change, except for the limited circumstance where the stock price in connection with such fundamental change on the effective date is less than the applicable conversion price (subject to
adjustment as set forth in the Preliminary Prospectus Supplement). Under such limited circumstance, the conversion rate will be determined as described in the Preliminary Prospectus Supplement.</P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Notwithstanding the foregoing, in no event will the conversion rate exceed 14.5702
shares of the Company&#146;s common stock per share of Convertible Preferred Stock (subject to adjustment upon occurrence of certain events, as described in the Preliminary Prospectus Supplement).</P></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>It is expected that delivery of the Convertible Preferred Stock will be made against payment therefor on or
about May&nbsp;15, 2020, which is the fifth business day following the trade date of the Convertible Preferred Stock (this settlement cycle being referred to as &#147;T+5&#148;). Under Rule <FONT STYLE="white-space:nowrap">15c6-1</FONT> under the
Securities Exchange Act of 1934, trades in the secondary market generally are required to settle in two business days unless the parties to that trade expressly agree otherwise. Accordingly, purchasers who wish to trade the Convertible Preferred
Stock prior to the second business day preceding the settlement date will be required, by virtue of the fact that the Convertible Preferred Stock initially will settle in T+5, to specify an alternative settlement cycle at the time of any such trade
to prevent failed settlement and should consult their own advisors. </B></P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>The Company has filed a registration statement, including a
prospectus, with the Securities and Exchange Commission (the &#147;SEC&#148;) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Company has
filed with the SEC for more complete information about the Company and this offering. You may get these documents for free by visiting EDGAR on the SEC&#146;s website at http://www.sec.gov. Alternatively, copies may be obtained by calling Citigroup
Global Markets Inc. toll-free at <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1-800-831-9146</FONT></FONT></FONT> or 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> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>This
communication should be read in conjunction with the Preliminary Prospectus Supplement and the accompanying base prospectus. The information in this communication supersedes the information in the Preliminary Prospectus Supplement and the
accompanying base prospectus to the extent inconsistent with the information in the Preliminary Prospectus Supplement and the accompanying base prospectus. </B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>ANY DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR BELOW ARE NOT APPLICABLE TO THIS COMMUNICATION AND
SHOULD BE DISREGARDED. SUCH DISCLAIMERS OR OTHER NOTICES WERE AUTOMATICALLY GENERATED AS A RESULT OF THIS COMMUNICATION BEING SENT BY BLOOMBERG OR ANOTHER EMAIL SYSTEM. </B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>

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