<SEC-DOCUMENT>0001140361-19-001195.txt : 20190116
<SEC-HEADER>0001140361-19-001195.hdr.sgml : 20190116
<ACCEPTANCE-DATETIME>20190116170052
ACCESSION NUMBER:		0001140361-19-001195
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20190116
DATE AS OF CHANGE:		20190116

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			STEELCASE INC
		CENTRAL INDEX KEY:			0001050825
		STANDARD INDUSTRIAL CLASSIFICATION:	OFFICE FURNITURE (NO WOOD) [2522]
		IRS NUMBER:				380819050
		STATE OF INCORPORATION:			MI
		FISCAL YEAR END:			0222

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-229176
		FILM NUMBER:		19529522

	BUSINESS ADDRESS:	
		STREET 1:		901 44TH STREET SE
		CITY:			GRAND RAPIDS
		STATE:			MI
		ZIP:			49508
		BUSINESS PHONE:		6162472710

	MAIL ADDRESS:	
		STREET 1:		901 44TH STREET SE
		CITY:			GRAND RAPIDS
		STATE:			MI
		ZIP:			49508

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			STEELCASE INC
		CENTRAL INDEX KEY:			0001050825
		STANDARD INDUSTRIAL CLASSIFICATION:	OFFICE FURNITURE (NO WOOD) [2522]
		IRS NUMBER:				380819050
		STATE OF INCORPORATION:			MI
		FISCAL YEAR END:			0222

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		901 44TH STREET SE
		CITY:			GRAND RAPIDS
		STATE:			MI
		ZIP:			49508
		BUSINESS PHONE:		6162472710

	MAIL ADDRESS:	
		STREET 1:		901 44TH STREET SE
		CITY:			GRAND RAPIDS
		STATE:			MI
		ZIP:			49508
</SEC-HEADER>
<DOCUMENT>
<TYPE>FWP
<SEQUENCE>1
<FILENAME>s002577x3_fwp.htm
<DESCRIPTION>FWP
<TEXT>
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    <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt;">Filed pursuant to Rule 433</div>
    <div style="text-align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Dated January 16, 2019</font></div>
    <div style="text-align: right; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Relating to Preliminary Prospectus Supplement dated January 16, 2019 and the</font></div>
    <div style="text-align: right; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Basic Prospectus dated January 9, 2019</font></div>
    <div style="text-align: right; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Registration Statement No. 333-229176</font></div>
    <div><br>
    </div>
    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Steelcase Inc.</font></div>
    <div><br>
    </div>
    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman';">5.125% Senior Notes due 2029</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: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">This pricing term sheet (this &#8220;Pricing Term Sheet&#8221;) relates only to the securities described below and is qualified in its entirety by reference to (i) the
        preliminary prospectus supplement (the &#8220;Preliminary Prospectus Supplement&#8221;) of Steelcase Inc., dated January 16, 2019, and (ii) the related base prospectus dated January 9, 2019 (the &#8220;Base Prospectus&#8221;), included in the registration statement (File
        No. 333-229176), in each case, including the documents incorporated by reference therein. The information in this Pricing Term Sheet supplements the Preliminary Prospectus Supplement and the Base Prospectus and supersedes the information in the
        Preliminary Prospectus Supplement and the Base Prospectus only to the extent it is inconsistent with the information contained therein. Capitalized terms used in this Pricing Term Sheet but not defined have the meanings given to them in the
        Preliminary Prospectus Supplement.</font></div>
    <div><br>
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    <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse;" id="z5f4f702fc15f406c96b372b873e6e8b2" cellpadding="0" 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';">Steelcase Inc.</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;">Principal Amount:</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';">$450,000,000</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';">January 18, 2029</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';">5.125%</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;">Price to the 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';">99.213%</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;">Yield to 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';">5.227%</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;">Spread to Benchmark Treasury:</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';">+ 250 basis points</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;">Benchmark Treasury:</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';">3.125% due November 15, 2028</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;">Benchmark Treasury Price and Yield:</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';">103-13 / 2.727%</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 18 and July 18, commencing July 18, 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';">Prior to October 18, 2028 (the &#8220;Par Call Date&#8221;), make-whole redemption at the Treasury Rate, plus 40 basis points, plus accrued and unpaid interest.</font></div>
            <div>&#160;</div>
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">On and after the Par Call Date, at a redemption price equal to 100% of the principal amount plus accrued and unpaid interest. See the preliminary
                prospectus supplement for the definition of &#8220;Treasury Rate&#8221; and for further terms and provisions applicable to optional redemption and the calculation of the redemption price.</font></div>
          </td>
        </tr>

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        <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;">Trade 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';">January 16, 2019</font></div>
          </td>
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        <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';">January 18, 2019; T+2</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';">858155AE4 / US858155AE40</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 style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Ratings</font>*<font style="font-size: 10pt; font-family: 'Times New
                  Roman'; font-weight: bold;">:</font></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 (stable) / BBB (stable)</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 style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Joint Book-Running Managers</font>:</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>
            <div style="text-align: left; text-indent: -62.1pt; margin-left: 62.1pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Merrill Lynch, Pierce, Fenner &amp; Smith</font></div>
            <div style="text-align: left; text-indent: -62.1pt; margin-left: 62.1pt;"><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;&#160;&#160;&#160;Incorporated</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;">Senior 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';">Wells Fargo Securities, LLC</font></div>
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">HSBC Securities (USA) Inc.</font></div>
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Fifth Third Securities, Inc.</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-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';">U.S. Bancorp Investments, Inc.</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;">Use of Proceeds:</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 use a portion of the net proceeds from the offering to fund the redemption of its 6.375% Senior Notes due 2021, of which $250
                million in the aggregate principal amount is outstanding, and related fees and expenses. The issuer intends to use the remaining net proceeds for general corporate purposes.</font></div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">*A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.</font></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 the Base Prospectus) and the Preliminary Prospectus Supplement with the SEC for
        the offering to which this communication relates.&#160; Before you invest, you should read the Base Prospectus in that registration statement, the Preliminary Prospectus Supplement 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 J.P. Morgan Securities LLC collect at 1-212-834-4533 or Merrill Lynch, Pierce, Fenner &amp; Smith Incorporated toll-free at 1-800-294-1322.</font></div>
    <div><br>
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