<SEC-DOCUMENT>0001193125-23-288586.txt : 20231205
<SEC-HEADER>0001193125-23-288586.hdr.sgml : 20231205
<ACCEPTANCE-DATETIME>20231204190627
ACCESSION NUMBER:		0001193125-23-288586
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20231205
DATE AS OF CHANGE:		20231204

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MOSAIC CO
		CENTRAL INDEX KEY:			0001285785
		STANDARD INDUSTRIAL CLASSIFICATION:	AGRICULTURE CHEMICALS [2870]
		IRS NUMBER:				201026454
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-260777
		FILM NUMBER:		231464766

	BUSINESS ADDRESS:	
		STREET 1:		101 EAST KENNEDY BLVD.
		STREET 2:		SUITE 2500
		CITY:			TAMPA
		STATE:			FL
		ZIP:			33602
		BUSINESS PHONE:		813-775-4200

	MAIL ADDRESS:	
		STREET 1:		101 EAST KENNEDY BLVD.
		STREET 2:		SUITE 2500
		CITY:			TAMPA
		STATE:			FL
		ZIP:			33602

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GLOBAL NUTRITION SOLUTIONS INC
		DATE OF NAME CHANGE:	20040401

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MOSAIC CO
		CENTRAL INDEX KEY:			0001285785
		STANDARD INDUSTRIAL CLASSIFICATION:	AGRICULTURE CHEMICALS [2870]
		IRS NUMBER:				201026454
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		101 EAST KENNEDY BLVD.
		STREET 2:		SUITE 2500
		CITY:			TAMPA
		STATE:			FL
		ZIP:			33602
		BUSINESS PHONE:		813-775-4200

	MAIL ADDRESS:	
		STREET 1:		101 EAST KENNEDY BLVD.
		STREET 2:		SUITE 2500
		CITY:			TAMPA
		STATE:			FL
		ZIP:			33602

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GLOBAL NUTRITION SOLUTIONS INC
		DATE OF NAME CHANGE:	20040401
</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">Filed Pursuant to Rule 433 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Registration No.&nbsp;333-260777 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">December&nbsp;4, 2023 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Relating to
Preliminary Prospectus Supplement </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">dated December&nbsp;4, 2023 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>THE MOSAIC COMPANY </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Pricing Term Sheet </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>$400,000,000 5.375% Senior Notes due 2028 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This pricing term sheet (this &#147;pricing term sheet&#148;) is qualified in its entirety by reference to the preliminary prospectus
supplement, dated December&nbsp;4, 2023 (the &#147;preliminary prospectus supplement&#148;), and the related base prospectus, dated November&nbsp;4, 2021 (the &#147;base prospectus&#148; and, together with the preliminary prospectus supplement,
including the documents incorporated by reference in the preliminary prospectus supplement and the base prospectus, the &#147;prospectus&#148;), of The Mosaic Company. The information in this pricing term sheet supplements the preliminary prospectus
supplement and updates and supersedes the information in the preliminary prospectus supplement to the extent it is inconsistent with the information in the preliminary prospectus supplement. Capitalized terms used and not defined herein have the
meanings assigned in the prospectus. </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;</TD>
<TD VALIGN="top">The Mosaic Company</TD></TR>
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<TD VALIGN="top">Ratings (Moody&#146;s/S&amp;P/Fitch)*:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Baa2 / BBB / BBB</TD></TR>
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<TD VALIGN="top">Security Type:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Senior Unsecured Notes</TD></TR>
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<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top">Offering Format:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">SEC Registered</TD></TR>
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<TD VALIGN="top">Pricing Date:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">December&nbsp;4, 2023</TD></TR>
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<TD VALIGN="top">Settlement Date (T+3)**:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">December&nbsp;7, 2023</TD></TR>
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<TD VALIGN="top">Maturity Date:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">November&nbsp;15, 2028</TD></TR>
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<TD VALIGN="top">Interest Payment Dates:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">May&nbsp;15 and November&nbsp;15, beginning May&nbsp;15, 2024</TD></TR>
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<TD VALIGN="top">Principal Amount:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">$400,000,000</TD></TR>
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<TD VALIGN="top">Benchmark:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">4.375% Notes due November&nbsp;30, 2028</TD></TR>
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<TD VALIGN="top">Benchmark Price / Yield:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT STYLE="white-space:nowrap">100-19+</FONT> / 4.238%</TD></TR>
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<TD VALIGN="top">Spread to Benchmark:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">+ 115 bps</TD></TR>
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<TD VALIGN="top">Yield to Maturity:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">5.388%</TD></TR>
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<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top">Coupon:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">5.375%</TD></TR>
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<TD VALIGN="top">Public Offering Price:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">99.948%</TD></TR>
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<TD VALIGN="top">Optional Redemption:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:2.00em; font-size:10pt; font-family:Times New Roman">Make-Whole Call:</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">At any time prior to October&nbsp;15, 2028, at the greater of (i) 100% or (ii)&nbsp;a make-whole price calculated using a discount rate of Treasury plus 20 basis points</TD></TR>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:2.00em; font-size:10pt; font-family:Times New Roman">Par Call:</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">At any time on or after October&nbsp;15, 2028</TD></TR></TABLE>
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<TD VALIGN="top">CUSIP / ISIN:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP>61945C AH6 / US61945CAH60</TD></TR>
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<TD VALIGN="top">Denominations:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP>$2,000 x $1,000</TD></TR>
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<TD VALIGN="top">Net Proceeds (Before Expenses):</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP>$397,392,000</TD></TR>
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<TD VALIGN="top">Active Joint Book-Running Managers:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP>BofA Securities, Inc. <BR>Barclays Capital Inc. <BR>Citigroup Global Markets Inc. <BR>J.P. Morgan Securities LLC</TD></TR>
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<TD VALIGN="top">Passive Joint Book-Running Managers:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">BMO Capital Markets Corp.</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">BNP Paribas
Securities Corp.</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">MUFG
Securities Americas Inc.</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">PNC Capital Markets LLC</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"><FONT STYLE="white-space:nowrap">Co-Managers:</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Banco Bradesco BBI S.A.</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Rabo Securities
USA, Inc.</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SMBC Nikko Securities America, Inc.</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">TD Securities
(USA) LLC</P></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">*</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Note: A securities rating is not a recommendation to buy, sell or hold securities and may be revised or
withdrawn at any time. </P></TD></TR></TABLE>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">**</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">The Issuer expects to deliver the notes against payment for the notes on or about December&nbsp;7, 2023, which
will be the third business day following the date of the pricing of the notes, or &#147;T+3&#148;. Under Rule <FONT STYLE="white-space:nowrap">15c6-1</FONT> under the Exchange Act, trades in the secondary market are required to settle in two
business days, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade notes on the date of pricing will be required, by virtue of the fact that the notes initially will settle T+3, to specify
alternative settlement arrangements at the time of any such trade to prevent a failed settlement. Purchasers of the notes who wish to trade the notes on the date of pricing should consult their advisors. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Issuer has filed a Registration Statement (including a prospectus) with the Securities and Exchange Commission 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 Securities and Exchange Commission 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 the prospectus if you request it by
calling BofA Securities, Inc. toll-free at (800) <FONT STYLE="white-space:nowrap">294-1322,</FONT> Barclays Capital Inc. toll-free at (888) <FONT STYLE="white-space:nowrap">603-5847,</FONT> Citigroup Global Markets Inc. toll-free at (800) <FONT
STYLE="white-space:nowrap">831-9146</FONT> or J.P. Morgan Securities LLC collect at (212) <FONT STYLE="white-space:nowrap">834-4533.</FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Any
disclaimer or other notice that may appear below is not applicable to this communication and should be disregarded. Such disclaimer or notice was automatically generated as a result of this communication being sent by Bloomberg or another email
system. </P>
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