<SEC-DOCUMENT>0001104659-24-041951.txt : 20240401
<SEC-HEADER>0001104659-24-041951.hdr.sgml : 20240401
<ACCEPTANCE-DATETIME>20240401171455
ACCESSION NUMBER:		0001104659-24-041951
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20240401
DATE AS OF CHANGE:		20240401

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ARROW ELECTRONICS, INC.
		CENTRAL INDEX KEY:			0000007536
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-ELECTRONIC PARTS & EQUIPMENT, NEC [5065]
		ORGANIZATION NAME:           	07 Trade & Services
		IRS NUMBER:				111806155
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-277564
		FILM NUMBER:		24810879

	BUSINESS ADDRESS:	
		STREET 1:		9151 EAST PANORAMA CIRCLE
		CITY:			CENTENNIAL
		STATE:			CO
		ZIP:			80112
		BUSINESS PHONE:		303-824-4000

	MAIL ADDRESS:	
		STREET 1:		9151 EAST PANORAMA CIRCLE
		CITY:			CENTENNIAL
		STATE:			CO
		ZIP:			80112

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ARROW ELECTRONICS, INC
		DATE OF NAME CHANGE:	20221117

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ARROW ELECTRONICS INC
		DATE OF NAME CHANGE:	19920703

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ARROW ELECTRONICS, INC.
		CENTRAL INDEX KEY:			0000007536
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-ELECTRONIC PARTS & EQUIPMENT, NEC [5065]
		ORGANIZATION NAME:           	07 Trade & Services
		IRS NUMBER:				111806155
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		9151 EAST PANORAMA CIRCLE
		CITY:			CENTENNIAL
		STATE:			CO
		ZIP:			80112
		BUSINESS PHONE:		303-824-4000

	MAIL ADDRESS:	
		STREET 1:		9151 EAST PANORAMA CIRCLE
		CITY:			CENTENNIAL
		STATE:			CO
		ZIP:			80112

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ARROW ELECTRONICS, INC
		DATE OF NAME CHANGE:	20221117

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ARROW ELECTRONICS INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>FWP
<SEQUENCE>1
<FILENAME>tm249931d3_fwp.htm
<DESCRIPTION>FWP
<TEXT>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Free Writing Prospectus</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Filed Pursuant to Rule&nbsp;433</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Registration No.&nbsp;333-277564</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Arrow Electronics,&nbsp;Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Pricing Term Sheet<BR>
April&nbsp;1, 2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">$500,000,000 5.875% Notes due 2034</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 32%">Issuer:</TD>
<TD STYLE="width: 68%">Arrow Electronics,&nbsp;Inc.</TD></TR>
<TR STYLE="vertical-align: top">
<TD>Trade Date:</TD>
<TD>April&nbsp;1, 2024</TD></TR>
<TR STYLE="vertical-align: top">
<TD>Settlement Date*:</TD>
<TD>April&nbsp;10, 2024 (T+7)</TD></TR>
<TR STYLE="vertical-align: top">
<TD>Ratings**:</TD>
<TD>Moody&rsquo;s: Baa3 (stable) / S&amp;P: BBB- (stable) / Fitch: BBB- (stable)</TD></TR>
<TR STYLE="vertical-align: top">
<TD>Title</TD>
<TD>5.875% Notes due 2034</TD></TR>
<TR STYLE="vertical-align: top">
<TD>Principal Amount:</TD>
<TD>$500,000,000</TD></TR>
<TR STYLE="vertical-align: top">
<TD>Maturity:</TD>
<TD>April&nbsp;10, 2034</TD></TR>
<TR STYLE="vertical-align: top">
<TD>Coupon:</TD>
<TD>5.875% per annum, accruing from April&nbsp;10, 2024</TD></TR>
<TR STYLE="vertical-align: top">
<TD>Price to Public:</TD>
<TD>99.970%</TD></TR>
<TR STYLE="vertical-align: top">
<TD>Yield to Maturity:</TD>
<TD>5.879%</TD></TR>
<TR STYLE="vertical-align: top">
<TD>Spread to Benchmark Treasury:</TD>
<TD>T+155 bps</TD></TR>
<TR STYLE="vertical-align: top">
<TD>Benchmark Treasury:</TD>
<TD>4.000% due February&nbsp;15, 2034</TD></TR>
<TR STYLE="vertical-align: top">
<TD>Benchmark Treasury Spot/Yield:</TD>
<TD>97-12/4.329%</TD></TR>
<TR STYLE="vertical-align: top">
<TD>Interest Payment Dates:</TD>
<TD>April&nbsp;10 and October&nbsp;10, commencing October&nbsp;10, 2024</TD></TR>
<TR STYLE="vertical-align: top">
<TD>Redemption:</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-left: 0.125in">Make-Whole Call:</TD>
<TD>Prior to January&nbsp;10, 2034 at T+25 basis points</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-left: 0.125in">Par Call:</TD>
<TD>On or after January&nbsp;10, 2034, at par</TD></TR>
<TR STYLE="vertical-align: top">
<TD>Minimum Denominations:</TD>
<TD>$2,000 and integral multiples of $1,000 in excess thereof</TD></TR>
<TR STYLE="vertical-align: top">
<TD>Use of Proceeds:</TD>
<TD>The Issuer expects to use a portion of the net proceeds from this offering to redeem all of its outstanding 6.125% notes due 2026. Pending such application of the net proceeds, the Issuer may invest the net proceeds in short-term interest-bearing accounts, securities or similar investments.&nbsp;&nbsp;The Issuer may apply the remaining net proceeds for general corporate purposes, which may include acquisitions or the repayment of other indebtedness, including the repurchase or redemption of any existing notes.</TD></TR>
<TR STYLE="vertical-align: top">
<TD>CUSIP/ISIN:</TD>
<TD>04273WAE1 / US04273WAE12</TD></TR>
<TR STYLE="vertical-align: top">
<TD>Joint Book-Running Managers:</TD>
<TD>J.P. Morgan Securities LLC <BR>
BNP Paribas Securities Corp. <BR>
HSBC Securities (USA) Inc.</TD></TR>
<TR STYLE="vertical-align: top">
<TD>Co-Managers:</TD>
<TD>Goldman Sachs&nbsp;&amp; Co. LLC <BR>
SMBC Nikko Securities America,&nbsp;Inc. <BR>
Standard Chartered Bank <BR>
Wells Fargo Securities, LLC &nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">*Note: We expect to deliver the Notes against payment for the Notes
on the seventh business day following the pricing of the Notes (T+7). Under Rule&nbsp;15c6-1 of the U.S. Exchange Act, trades in the secondary
market generally are required to settle in two business days, unless the parties to a trade expressly agree otherwise. Accordingly, the
purchasers who wish to trade the Notes on any day prior to the second business day before delivery of the Notes will be required, by virtue
of the fact that the Notes initially will settle T+7, to specify alternative settlement arrangements to prevent a failed settlement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">**Note: 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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The issuer has filed a registration statement including a prospectus
and a prospectus supplement with the SEC for the offering to which this communication relates. Before you invest, you should read the
prospectus and prospectus supplement in that registration statement and other documents the issuer has filed with the SEC for more complete
information about the issuer and this offering. You may obtain 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
prospectus supplement if you request them by calling J.P. Morgan Securities LLC at 1-212-834-4533; BNP Paribas Securities Corp. at 1-800-854-5674
or HSBC Securities (USA) Inc. at 1-866-811-8049.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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