<SEC-DOCUMENT>0001104659-24-100713.txt : 20240917
<SEC-HEADER>0001104659-24-100713.hdr.sgml : 20240917
<ACCEPTANCE-DATETIME>20240917170954
ACCESSION NUMBER:		0001104659-24-100713
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20240917
DATE AS OF CHANGE:		20240917

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SONOCO PRODUCTS CO
		CENTRAL INDEX KEY:			0000091767
		STANDARD INDUSTRIAL CLASSIFICATION:	PAPERBOARD CONTAINERS & BOXES [2650]
		ORGANIZATION NAME:           	04 Manufacturing
		IRS NUMBER:				570248420
		STATE OF INCORPORATION:			SC
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-266837
		FILM NUMBER:		241305270

	BUSINESS ADDRESS:	
		STREET 1:		ONE NORTH SECOND ST
		STREET 2:		P O BOX 160
		CITY:			HARTSVILLE
		STATE:			SC
		ZIP:			29551-0160
		BUSINESS PHONE:		8433837000

	MAIL ADDRESS:	
		STREET 1:		ONE N. SECOND STREET
		CITY:			HARTSVILLE
		STATE:			SC
		ZIP:			29550

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SONOCO PRODUCTS CO
		CENTRAL INDEX KEY:			0000091767
		STANDARD INDUSTRIAL CLASSIFICATION:	PAPERBOARD CONTAINERS & BOXES [2650]
		ORGANIZATION NAME:           	04 Manufacturing
		IRS NUMBER:				570248420
		STATE OF INCORPORATION:			SC
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		ONE NORTH SECOND ST
		STREET 2:		P O BOX 160
		CITY:			HARTSVILLE
		STATE:			SC
		ZIP:			29551-0160
		BUSINESS PHONE:		8433837000

	MAIL ADDRESS:	
		STREET 1:		ONE N. SECOND STREET
		CITY:			HARTSVILLE
		STATE:			SC
		ZIP:			29550
</SEC-HEADER>
<DOCUMENT>
<TYPE>FWP
<SEQUENCE>1
<FILENAME>tm2424263d1_fwp.htm
<DESCRIPTION>FWP
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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; text-align: right">Free Writing Prospectus<BR>
Filed Pursuant to Rule&nbsp;433<BR>
Registration No.&nbsp;333-266837<BR>
Relating to Preliminary Prospectus Supplement dated September 16, 2024<BR>
(to Prospectus dated August&nbsp;12, 2022)</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;<IMG SRC="image_001.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">$500,000,000 4.450% Notes due 2026<BR>
$600,000,000 4.600% Notes due 2029<BR>
$700,000,000 5.000% Notes due 2034</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"><B>Final Pricing Term Sheet</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">September 17, 2024</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: 35%; padding-right: 5.75pt; font-size: 10pt"><B>Issuer:</B></TD>
    <TD STYLE="width: 65%; font-size: 10pt">Sonoco Products Company</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Issuer Long-term Debt Ratings (Moody&rsquo;s/S&amp;P/Fitch) *:</B></TD>
    <TD STYLE="font-size: 10pt">Baa2 (Negative Watch) / BBB (Negative Watch) / BBB (Stable)&nbsp;&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Type of Offering:</B></TD>
    <TD STYLE="font-size: 10pt">SEC Registered (no. 333-266837)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Ranking:</B></TD>
    <TD STYLE="font-size: 10pt">Senior Unsecured</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Trade Date:</B></TD>
    <TD STYLE="font-size: 10pt">September 17, 2024</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Settlement Date:</B></TD>
    <TD STYLE="font-size: 10pt">September 19, 2024&nbsp;(T+2) **</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Use of Proceeds:</B></TD>
    <TD STYLE="font-size: 10pt; text-align: justify">The Issuer intends to use an amount equal to the net proceeds from this offering, together with borrowings under the Acquisition Term Loan Facilities (as defined in the preliminary prospectus supplement dated September 16, 2024 (the &ldquo;preliminary prospectus supplement&rdquo;)) and, if needed, cash on hand or additional borrowings under the Revolving Credit Facility (as defined in the preliminary prospectus supplement), to fund the cash consideration payable by the Issuer in connection with the Eviosys Acquisition (as defined in the preliminary prospectus supplement) and to pay related fees and expenses. If a Special Mandatory Redemption Event (as defined in the preliminary prospectus supplement) occurs, the Issuer will be required to redeem all of the 2029 notes and the 2034 notes at the applicable special mandatory redemption price, and the net proceeds from the sale of the 2026 notes will be used for general corporate purposes, which may include refinancing of indebtedness. See &ldquo;Use of Proceeds&rdquo; and &ldquo;Description of the Notes &mdash; Special Mandatory Redemption&rdquo; in the preliminary prospectus supplement.</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"></P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.75pt">
    <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"><B><U>Notes due 2026</U></B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.75pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt; text-align: justify; width: 35%"><B>Title of Securities:</B></TD>
    <TD STYLE="font-size: 10pt; width: 65%">4.450% Notes due 2026 (the &ldquo;2026 Notes&rdquo;)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Aggregate Principal Amount Offered:</B></TD>
    <TD STYLE="font-size: 10pt">$500,000,000</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Coupon (Interest Rate):</B></TD>
    <TD STYLE="font-size: 10pt">4.450% per annum</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Maturity Date:</B></TD>
    <TD STYLE="font-size: 10pt">September 1, 2026</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Interest&nbsp;Payment&nbsp;Dates:</B></TD>
    <TD STYLE="font-size: 10pt">Semi-annually on March 1 and September 1, beginning on March 1, 2025</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Interest Payment Record Dates:</B></TD>
    <TD STYLE="font-size: 10pt">February 15 and August 15</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Make-Whole Call:</B></TD>
    <TD STYLE="font-size: 10pt">T+15 bps</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Benchmark Treasury:</B></TD>
    <TD STYLE="font-size: 10pt">3.750% UST due August 31, 2026 </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Benchmark&nbsp;Treasury&nbsp;Price and Yield:</B></TD>
    <TD STYLE="font-size: 10pt">100-09+; 3.590%</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Spread to Benchmark Treasury:</B></TD>
    <TD STYLE="font-size: 10pt">+90 basis points</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Yield to Maturity:</B></TD>
    <TD STYLE="font-size: 10pt">4.490%</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Price to Public (Issue Price):</B></TD>
    <TD STYLE="font-size: 10pt">99.928% of principal amount</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>CUSIP / ISIN:</B></TD>
    <TD STYLE="font-size: 10pt">835495AQ5 / US835495AQ50</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.75pt">
    <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"><B><U>Notes due 2029</U></B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.75pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Title of Securities:</B></TD>
    <TD STYLE="font-size: 10pt">4.600% Notes due 2029 (the &ldquo;2029 Notes&rdquo;)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Aggregate Principal Amount Offered:</B></TD>
    <TD STYLE="font-size: 10pt">$600,000,000</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Coupon (Interest Rate):</B></TD>
    <TD STYLE="font-size: 10pt">4.600% per annum</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Maturity Date:</B></TD>
    <TD STYLE="font-size: 10pt">September 1, 2029</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
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<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="padding-right: 5.75pt; font-size: 10pt"><B>Interest&nbsp;Payment&nbsp;Dates:</B></TD>
    <TD STYLE="font-size: 10pt">Semi-annually on March 1 and September 1, beginning on March 1, 2025</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Interest Payment Record Dates:</B></TD>
    <TD STYLE="font-size: 10pt">February 15 and August 15</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Special Mandatory Redemption:</B></TD>
    <TD STYLE="font-size: 10pt; text-align: justify">If the Eviosys Acquisition is not consummated on or before December 31, 2025 or if, on or prior to such date, the Purchase Agreement (as defined in the preliminary prospectus supplement) is terminated other than as a result of consummating the Eviosys Acquisition, the Issuer will be required to redeem the notes at a redemption price equal to 101% of the principal amount of the notes, plus accrued and unpaid interest, if any, to, but excluding, the special mandatory redemption date. See &ldquo;Description of the Notes&mdash;Special Mandatory Redemption&rdquo; in the preliminary prospectus supplement.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Make-Whole Call:</B></TD>
    <TD STYLE="font-size: 10pt">Prior to August&nbsp;1, 2029 (one month prior to the maturity date of the 2029 Notes) at T+20 bps</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Par Call:</B></TD>
    <TD STYLE="font-size: 10pt">On or after August 1, 2029</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Benchmark Treasury:</B></TD>
    <TD STYLE="font-size: 10pt">3.625% UST due August 31, 2029</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Benchmark&nbsp;Treasury&nbsp;Price and Yield:</B></TD>
    <TD STYLE="font-size: 10pt">100-27+; 3.434%</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Spread to Benchmark Treasury:</B></TD>
    <TD STYLE="font-size: 10pt">+118 basis points</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Yield to Maturity:</B></TD>
    <TD STYLE="font-size: 10pt">4.614%</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Price to Public (Issue Price):</B></TD>
    <TD STYLE="font-size: 10pt">99.941% of principal amount</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 35%; padding-right: 5.75pt; font-size: 10pt"><B>CUSIP / ISIN:</B></TD>
    <TD STYLE="width: 65%; font-size: 10pt">835495AR3 / US835495AR34</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.75pt">
    <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"><B><U>Notes due 2034</U></B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.75pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Title of Securities:</B></TD>
    <TD STYLE="font-size: 10pt">5.000% Notes due 2034 (the &ldquo;2034 Notes&rdquo;)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Aggregate Principal Amount Offered:</B></TD>
    <TD STYLE="font-size: 10pt">$700,000,000 </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Coupon (Interest Rate):</B></TD>
    <TD STYLE="font-size: 10pt">5.000% per annum</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Maturity Date:</B></TD>
    <TD STYLE="font-size: 10pt">September 1, 2034</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<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="padding-right: 5.75pt; font-size: 10pt; width: 35%"><B>Interest&nbsp;Payment&nbsp;Dates:</B></TD>
    <TD STYLE="font-size: 10pt; width: 65%">Semi-annually on March 1 and September 1, beginning on March 1, 2025</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Interest Payment Record Dates:</B></TD>
    <TD STYLE="font-size: 10pt">February 15 and August 15</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Special Mandatory Redemption:</B></TD>
    <TD STYLE="font-size: 10pt; text-align: justify">If the Eviosys Acquisition is not consummated on or before December 31, 2025 or, if on or prior to such date, the Purchase Agreement is terminated other than as a result of consummating the Eviosys Acquisition, the Issuer will be required to redeem the notes at a redemption price equal to 101% of the principal amount of the notes, plus accrued and unpaid interest, if any, to, but excluding, the special mandatory redemption date. See &ldquo;Description of the Notes&mdash;Special Mandatory Redemption&rdquo; in the preliminary prospectus supplement.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Make-Whole Call:</B></TD>
    <TD STYLE="font-size: 10pt; text-align: justify">Prior to June 1, 2034 &nbsp;(three months prior to the maturity date of the 2034 Notes) at T+25 bps</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Par Call:</B></TD>
    <TD STYLE="font-size: 10pt">On or after June 1, 2034 </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Benchmark Treasury:</B></TD>
    <TD STYLE="font-size: 10pt">3.875% UST due August 15, 2034</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Benchmark&nbsp;Treasury&nbsp;Price and Yield:</B></TD>
    <TD STYLE="font-size: 10pt">101-30; 3.640%</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Spread to Benchmark Treasury:</B></TD>
    <TD STYLE="font-size: 10pt">+143 basis points</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Yield to Maturity:</B></TD>
    <TD STYLE="font-size: 10pt">5.070%</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Price to Public (Issue Price):</B></TD>
    <TD STYLE="font-size: 10pt">99.461% of principal amount</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>CUSIP / ISIN:</B></TD>
    <TD STYLE="font-size: 10pt">835495AS1 / US835495AS17</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Joint Book-Running Managers:</B></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">J.P. Morgan Securities LLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Morgan Stanley &amp; Co. LLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">BofA Securities, Inc.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Wells Fargo Securities, LLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">TD Securities (USA) LLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">U.S. Bancorp Investments, Inc.</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Co-Managers:</B></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Deutsche Bank Securities Inc.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Goldman Sachs &amp; Co. LLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">MUFG Securities Americas Inc.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">RBC Capital Markets, LLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Truist Securities, Inc.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">ING Financial Markets LLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Regions Securities LLC</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; font-size: 10pt"><B>Trustee:</B></TD>
    <TD STYLE="font-size: 10pt">Regions Bank</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"></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; text-align: justify"><B>*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.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">**It is expected that delivery of the notes will
be made against payment therefor on or about September 19, 2024, which is the second business day following the date hereof (such settlement
cycle being referred to as &ldquo;T+2&rdquo;). Under Rule&nbsp;15c6-1 under the Exchange Act of 1934, as amended, trades in the secondary
market are generally required to settle in one business day, unless the parties to any such trade expressly agree otherwise. Accordingly,
purchasers who wish to trade such notes more than one business day prior to the scheduled settlement date will be required, by virtue
of the fact that the notes initially will settle in T+2, to specify an alternative settlement arrangement at the time of any such trade
to prevent failed settlement. Purchasers of such notes who wish to trade notes prior to the date of delivery should consult their advisors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>The issuer has filed a registration statement
(including a prospectus) with the Securities and Exchange Commission (the &ldquo;SEC&rdquo;) for the offering to which this communication
relates. Before you invest, you should read the prospectus in that registration statement, the preliminary prospectus supplement dated
September 16, 2024 and 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 or any underwriter
participating in this offering can arrange to send you the preliminary prospectus supplement and accompanying prospectus and, when available,
the final prospectus supplement if you request it by calling J.P. Morgan Securities LLC collect at 1-212-834-4533; by calling Morgan Stanley
 &amp; Co. LLC toll-free at 1-866-718-1649; by calling BofA Securities, Inc. toll free at 1-800-294-1322; or by calling Wells Fargo Securities,
LLC toll-free at 1-800-645-3751.</B></P>

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

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