<SEC-DOCUMENT>0001140361-19-003853.txt : 20190226
<SEC-HEADER>0001140361-19-003853.hdr.sgml : 20190226
<ACCEPTANCE-DATETIME>20190226103051
ACCESSION NUMBER:		0001140361-19-003853
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20190226
DATE AS OF CHANGE:		20190226

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BRUNSWICK CORP
		CENTRAL INDEX KEY:			0000014930
		STANDARD INDUSTRIAL CLASSIFICATION:	ENGINES & TURBINES [3510]
		IRS NUMBER:				360848180
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-213509
		FILM NUMBER:		19632035

	BUSINESS ADDRESS:	
		STREET 1:		26125 N. RIVERWOODS BLVD. SUITE 500
		CITY:			METTAWA
		STATE:			IL
		ZIP:			60045-3420
		BUSINESS PHONE:		8477354700

	MAIL ADDRESS:	
		STREET 1:		26125 N. RIVERWOODS BLVD. SUITE 500
		CITY:			METTAWA
		STATE:			IL
		ZIP:			60045-3420

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BRUNSWICK BALKE COLLENDER CO
		DATE OF NAME CHANGE:	19660919

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BRUNSWICK CORP
		CENTRAL INDEX KEY:			0000014930
		STANDARD INDUSTRIAL CLASSIFICATION:	ENGINES & TURBINES [3510]
		IRS NUMBER:				360848180
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		26125 N. RIVERWOODS BLVD. SUITE 500
		CITY:			METTAWA
		STATE:			IL
		ZIP:			60045-3420
		BUSINESS PHONE:		8477354700

	MAIL ADDRESS:	
		STREET 1:		26125 N. RIVERWOODS BLVD. SUITE 500
		CITY:			METTAWA
		STATE:			IL
		ZIP:			60045-3420

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BRUNSWICK BALKE COLLENDER CO
		DATE OF NAME CHANGE:	19660919
</SEC-HEADER>
<DOCUMENT>
<TYPE>FWP
<SEQUENCE>1
<FILENAME>s002693x2_fwp.htm
<DESCRIPTION>FWP
<TEXT>
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    <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Filed Pursuant to Rule 433</div>
    <div style="text-align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Registration Statement No. 333-213509</font></div>
    <div style="text-align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Pricing Term Sheet</font></div>
    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">BRUNSWICK CORPORATION</font></div>
    <div><br>
    </div>
    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Pricing Term Sheet</u></font></font></div>
    <div><br>
    </div>
    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman';">$200,000,000 6.375% Notes due 2049</font></div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse;" id="z61ecdc1b5e2d421dbac48ccb0722da2d" border="0" cellpadding="3" cellspacing="0">

        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Issuer:</font></div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Brunswick Corporation</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Security Type:</font></div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Senior Unsecured Notes</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Format:</font></div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">SEC Registered</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Title:</font></div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">6.375% Notes due 2049 (the &#8220;Notes&#8221;)</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Size:</font></div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">$200,000,000 ($230,000,000 assuming the underwriters exercise their option to purchase the additional Notes in full).</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Maturity:</font></div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">April 15, 2049</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Coupon:</font></div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">6.375%</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Price to Public:</font></div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">100.000% of face amount</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Expected Ratings (Moody&#8217;s / S&amp;P / Fitch)*:</font></div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Baa2 / BBB- / BBB</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Pricing Date:</font></div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">February 26, 2019</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Interest Payment Dates:</font></div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">January 15, April 15, July 15 and October 15, commencing on April 15, 2019</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Settlement Date**:</font></div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">T+4; March 4, 2019</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Optional Redemption:</font></div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">The Notes will be redeemable at the option of the Issuer, in whole or in part, at any time on or after April 15, 2024, at a redemption price equal to
                100% of their principal amount, plus accrued and unpaid interest to, but excluding, the redemption date.</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Day Count:</font></div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">30 / 360</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Net Proceeds to Issuer (before expenses; assumes no exercise of underwriters&#8217; option):</font></div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">$193,700,000 ($222,755,000 assuming the underwriters exercise their option to purchase the additional Notes in full).</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">CUSIP / ISIN:</font></div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">117043 604 / US1170436042</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Denominations:</font></div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">$25.00 and integral multiples of $25.00 in excess thereof</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Listing:</font></div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">The Issuer intends to file an application to list the Notes on The New York Stock Exchange.</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Joint Book-Running Managers:</font></div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Morgan Stanley &amp; Co. LLC</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><br>
            </div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Merrill Lynch, Pierce, Fenner &amp; Smith</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><br>
            </div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160; &#160;&#160;&#160; Incorporated</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><br>
            </div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Wells Fargo Securities, LLC</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Joint Lead Manager:</font></div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">J.P. Morgan Securities LLC</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Co-Managers:</font></div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Citizens Capital Markets, Inc.</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><br>
            </div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">SunTrust Robinson Humphrey, Inc.</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><br>
            </div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">U.S. Bancorp Investments, Inc.</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><br>
            </div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">BMO Capital Markets Corp.</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><br>
            </div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">KBC Securities USA LLC</font></div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div>
      <table class="DSPFListTable" id="z0ff46e417ba348c1a9986ecfcb20d056" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;" cellpadding="0" cellspacing="0">

          <tr style="vertical-align: top;">
            <td style="vertical-align: top; width: 27pt;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">*</font></div>
            </td>
            <td style="align: left; vertical-align: top; width: auto;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision, suspension or withdrawal at any
                  time.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>
      <table class="DSPFListTable" id="z12d05a1b3a514d4eaf6d58baa4036bad" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;" cellpadding="0" cellspacing="0">

          <tr style="vertical-align: top;">
            <td style="vertical-align: top; width: 27pt;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">**</font></div>
            </td>
            <td style="align: left; vertical-align: top; width: auto;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">It is expected that delivery of the Notes will be made against payment therefor on or about March 4, 2019, which will be the fourth business day
                  following the date hereof (this settlement cycle being referred to as &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>T+4</u></font>&#8221;). Under Rule 15c6-1 of the Securities Exchange Act of 1934, trades in the secondary
                  market generally are required to settle in two business days, unless the parties to a trade expressly agree otherwise. Accordingly, purchasers who wish to trade the Notes on any day prior to two business days 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.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates.&#160;
        Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering.&#160; You may get these documents for free by
        visiting EDGAR on the SEC Web site at www.sec.gov.&#160; 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 <font style="font-size: 10pt;
          font-family: 'Times New Roman';">Morgan Stanley &amp; Co. LLC collect at 1-866-718-1649, or by calling Merrill Lynch, Pierce, Fenner &amp; Smith Incorporated at 1-800-294-1322, or by calling Wells Fargo Securities, LLC toll-free at
          1-800-645-3751.</font></font></div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
        </font></font></div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> </font></font>
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