<SEC-DOCUMENT>0001140361-23-043686.txt : 20230912
<SEC-HEADER>0001140361-23-043686.hdr.sgml : 20230912
<ACCEPTANCE-DATETIME>20230912165336
ACCESSION NUMBER:		0001140361-23-043686
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20230912
DATE AS OF CHANGE:		20230912

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HORACE MANN EDUCATORS CORP /DE/
		CENTRAL INDEX KEY:			0000850141
		STANDARD INDUSTRIAL CLASSIFICATION:	FIRE, MARINE & CASUALTY INSURANCE [6331]
		IRS NUMBER:				370911756
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-254084
		FILM NUMBER:		231250725

	BUSINESS ADDRESS:	
		STREET 1:		1 HORACE MANN PLZ
		CITY:			SPRINGFIELD
		STATE:			IL
		ZIP:			62715-0001
		BUSINESS PHONE:		2177892500

	MAIL ADDRESS:	
		STREET 1:		1 HORACE MANN PLZ
		CITY:			SPRINGFIELD
		STATE:			IL
		ZIP:			62715-0001

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HORACE MANN EDUCATORS CORP
		DATE OF NAME CHANGE:	19920108

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HORACE MANN EDUCATORS CORP /DE/
		CENTRAL INDEX KEY:			0000850141
		STANDARD INDUSTRIAL CLASSIFICATION:	FIRE, MARINE & CASUALTY INSURANCE [6331]
		IRS NUMBER:				370911756
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		1 HORACE MANN PLZ
		CITY:			SPRINGFIELD
		STATE:			IL
		ZIP:			62715-0001
		BUSINESS PHONE:		2177892500

	MAIL ADDRESS:	
		STREET 1:		1 HORACE MANN PLZ
		CITY:			SPRINGFIELD
		STATE:			IL
		ZIP:			62715-0001

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HORACE MANN EDUCATORS CORP
		DATE OF NAME CHANGE:	19920108
</SEC-HEADER>
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  <div>
    <div style="text-align: right; font-weight: bold;">Issuer Free Writing Prospectus</div>
    <div style="text-align: right; font-weight: bold;">Filed Pursuant to Rule 433</div>
    <div style="text-align: right; font-weight: bold;">Registration No. 333-254084</div>
    <div style="text-align: right; font-weight: bold;">September 12, 2023</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;"> <img src="image00001.jpg"></div>
    <div style="text-align: center; font-weight: bold;"> <br>
    </div>
    <div style="text-align: center; font-weight: bold;">$300,000,000 7.250% Senior Notes due 2028</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">TERM SHEET</div>
    <div style="text-align: center; font-weight: bold;"><br>
    </div>
    <div style="text-align: center; font-weight: bold;">
      <hr style="height: 2px; width: 20%; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
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        <tr>
          <td style="width: 43.76%; vertical-align: top;">
            <div style="font-weight: bold;">Issuer:</div>
          </td>
          <td style="width: 56.24%; vertical-align: top;">
            <div>Horace Mann Educators Corporation</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 43.76%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 56.24%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 43.76%; vertical-align: top;">
            <div style="font-weight: bold;">Title of Securities:</div>
          </td>
          <td style="width: 56.24%; vertical-align: top;">
            <div>7.250% Senior Notes due 2028</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 43.76%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 56.24%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 43.76%; vertical-align: top;">
            <div style="font-weight: bold;">Security Types:</div>
          </td>
          <td style="width: 56.24%; vertical-align: middle;">
            <div>Senior Unsecured Notes</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 43.76%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 56.24%; vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 43.76%; vertical-align: top;">
            <div style="font-weight: bold;">Legal Format:</div>
          </td>
          <td style="width: 56.24%; vertical-align: middle;">
            <div>SEC Registered</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 43.76%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 56.24%; vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 43.76%; vertical-align: top;">
            <div style="font-weight: bold;">Expected Ratings:*</div>
          </td>
          <td style="width: 56.24%; vertical-align: top;">
            <div>Moody&#8217;s: Baa2 (negative) / S&amp;P: BBB (stable) / Fitch: BBB (stable)</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 43.76%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 56.24%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 43.76%; vertical-align: top;">
            <div style="font-weight: bold;">Principal Amount:</div>
          </td>
          <td style="width: 56.24%; vertical-align: middle;">
            <div>$300,000,000</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 43.76%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 56.24%; vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 43.76%; vertical-align: top;">
            <div style="font-weight: bold;">Trade Date:</div>
          </td>
          <td style="width: 56.24%; vertical-align: middle;">
            <div>September 12, 2023</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 43.76%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 56.24%; vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 43.76%; vertical-align: top;">
            <div style="font-weight: bold;">Settlement Date:</div>
          </td>
          <td style="width: 56.24%; vertical-align: middle;">
            <div>September 15, 2023 (T+3)**</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 43.76%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 56.24%; vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 43.76%; vertical-align: top;">
            <div style="font-weight: bold;">Interest Payment Dates:</div>
          </td>
          <td style="width: 56.24%; vertical-align: middle;">
            <div>Semi-annually in arrears on each March 15 and September 15, commencing March 15, 2024</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 43.76%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 56.24%; vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 43.76%; vertical-align: top;">
            <div style="font-weight: bold;">Maturity Date:</div>
          </td>
          <td style="width: 56.24%; vertical-align: middle;">
            <div>September 15, 2028</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 43.76%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 56.24%; vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 43.76%; vertical-align: top;">
            <div style="font-weight: bold;">Public Offering Price:</div>
          </td>
          <td style="width: 56.24%; vertical-align: middle;">
            <div>99.839% of the principal amount, plus accrued and unpaid interest, if any, from September 15, 2023</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 43.76%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 56.24%; vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 43.76%; vertical-align: top;">
            <div style="font-weight: bold;">Coupon:</div>
          </td>
          <td style="width: 56.24%; vertical-align: middle;">
            <div>7.250%</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 43.76%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 56.24%; vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 43.76%; vertical-align: top;">
            <div style="font-weight: bold;">Benchmark Treasury:</div>
          </td>
          <td style="width: 56.24%; vertical-align: middle;">
            <div>4.375% due August 31, 2028</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 43.76%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 56.24%; vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 43.76%; vertical-align: top;">
            <div style="font-weight: bold;">Benchmark Treasury Price / Yield:</div>
          </td>
          <td style="width: 56.24%; vertical-align: top;">
            <div>99-26+ / 4.414%</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 43.76%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 56.24%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 43.76%; vertical-align: top;">
            <div style="font-weight: bold;">Re-offer Spread to Benchmark Treasury:</div>
          </td>
          <td style="width: 56.24%; vertical-align: top;">
            <div style="text-align: justify;">+ 287.5 bps</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 43.76%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 56.24%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 43.76%; vertical-align: top;">
            <div style="font-weight: bold;">Yield-to-Maturity:</div>
          </td>
          <td style="width: 56.24%; vertical-align: middle;">
            <div>7.289%</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 43.76%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 56.24%; vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 43.76%; vertical-align: top;">
            <div style="font-weight: bold;">Net Proceeds to Issuer (before expenses):</div>
          </td>
          <td style="width: 56.24%; vertical-align: middle;">
            <div>$297,717,000</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><br>
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    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
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        <tr>
          <td rowspan="1" style="width: 43.76%; vertical-align: top;"><font style="font-weight: bold;">Optional Redemption </font><br>
          </td>
          <td rowspan="1" style="width: 56.24%; vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 43.76%; vertical-align: top;">
            <div style="font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Make Whole Call:</div>
          </td>
          <td style="width: 56.24%; vertical-align: middle;">
            <div>Prior to August 15, 2028 (the date that is one month prior to the maturity date), T + 45 bps</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 43.76%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 56.24%; vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 43.76%; vertical-align: top;">
            <div style="font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Par Call:</div>
          </td>
          <td style="width: 56.24%; vertical-align: middle;">
            <div>On or after August 15, 2028 (the date that is one month prior to the maturity date)</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 43.76%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 56.24%; vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 43.76%; vertical-align: top;">
            <div style="font-weight: bold;">CUSIP / ISIN:</div>
          </td>
          <td style="width: 56.24%; vertical-align: middle;">
            <div>440327AL8 / US440327AL82</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 43.76%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 56.24%; vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 43.76%; vertical-align: top;">
            <div style="font-weight: bold;">Denominations / Multiple:</div>
          </td>
          <td style="width: 56.24%; vertical-align: middle;">
            <div>Minimum of $2,000 and integral multiples of $1,000 in excess thereof</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 43.76%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 56.24%; vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 43.76%; vertical-align: top;">
            <div style="font-weight: bold;">Joint Book-Running Managers:</div>
          </td>
          <td style="width: 56.24%; vertical-align: middle;">
            <div>J.P. Morgan Securities LLC</div>
            <div>PNC Capital Markets LLC</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 43.76%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 56.24%; vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 43.76%; vertical-align: top;">
            <div style="font-weight: bold;">Co-Managers:</div>
          </td>
          <td style="width: 56.24%; vertical-align: middle;">
            <div>KeyBanc Capital Markets Inc. <br>
            </div>
            <div>Citizens JMP Securities, LLC</div>
            <div>Piper Sandler &amp; Co.</div>
            <div>U.S. Bancorp Investments, Inc.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="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 contacting J.P. Morgan Securities LLC collect at (212)
      834-4533 or PNC Capital Markets LLC toll-free at (855) 881-0697.</div>
    <div><br>
    </div>
    <div style="font-weight: bold;">* Note: A credit rating of a security is not a recommendation to buy, sell or hold securities and may be subject to review, revision,
      suspension, reduction or withdrawal at any time by the assigning rating agency.</div>
    <div><br>
    </div>
    <div style="font-weight: bold;">** Note: It is expected that the delivery of the notes will be made against payment therefor on or about September 15, 2023, which will be
      the third business day after the date of the prospectus supplement. Under Rule 15c6-1 of the Securities and Exchange Commission (the &#8220;SEC&#8221;) under the Securities Exchange Act of 1934, as amended, 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 prior to the second business day preceding the Settlement Date will be required, by virtue of the fact that
      the notes will settle in three business days, to specify an alternative settlement cycle at the time of any such trade to prevent a failed settlement. Such purchasers should consult their own advisors in this regard.</div>
    <div><br>
    </div>
    <div style="font-weight: bold;">Any disclaimers or other notices that may appear below are not applicable to this communication and should be disregarded. Such disclaimers
      or other notices were automatically generated as a result of this communication being sent via Bloomberg or another email system.</div>
    <div style="font-weight: bold;"> <br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-weight: bold;"><font style="font-weight: normal;">2</font><br>
    </div>
    <div><br>
    </div>
    <div>
      <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
