Obbligazione UnitedHealth Alliance 3.7% ( US91324PDU30 ) in USD

UnitedHealth Alliance

74.1153 USD ▼

Stati Uniti

US91324PDU30 ( in USD )

3.7% per anno ( pagato 2 volte l'anno)

14/08/2049

Prospetto opuscolo dell'obbligazione UnitedHealth Group US91324PDU30 en USD 3.7%, scadenza 14/08/2049

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91324PDU3

A+ ( Upper medium grade - Investment-grade )

A2 ( Upper medium grade - Investment-grade )

15/02/2026 ( In 7 giorni )

UnitedHealth Group è una delle più grandi aziende sanitarie al mondo, operante nei settori assicurativo, sanitario e tecnologico.

Analizziamo un'offerta obbligazionaria di rilievo nel panorama finanziario internazionale. Si tratta di un'obbligazione con codice ISIN US91324PDU30 e codice CUSIP 91324PDU3, emessa da UnitedHealth Group. Quest'ultimo è un colosso statunitense e uno dei principali attori mondiali nel settore dei servizi sanitari e assicurativi, con attività diversificate che spaziano dalla gestione di piani sanitari attraverso UnitedHealthcare alla fornitura di servizi sanitari basati sulla tecnologia e consulenza tramite Optum, consolidando la sua posizione di leader nel proprio comparto. L'obbligazione, emessa negli Stati Uniti e denominata in Dollari USA (USD), presenta un tasso di interesse nominale del 3.7% e prevede pagamenti semestrali (con una frequenza di 2 volte l'anno). La sua scadenza è fissata in data 14 agosto 2049, conferendole una natura di investimento a lungo termine. Attualmente, il prezzo di mercato di questa obbligazione si attesta al 70.978% del valore nominale. La solidità finanziaria dell'emittente è ulteriormente rafforzata dai rating attribuiti dalle principali agenzie: Standard & Poor's (S&P) le ha assegnato un rating di A+, mentre Moody's le ha attribuito un rating di A2. Entrambi i giudizi indicano un elevato grado di qualità creditizia, posizionando il titolo nella categoria "investment grade" con un rischio di credito percepito come moderato. Questa emissione rappresenta quindi un titolo di debito a lungo termine offerto da un'entità aziendale ben capitalizzata e con un solido standing creditizio nel mercato globale.

FWP
https://www.sec.gov/Archives/edgar/data/731766/0001193125192003...
FWP 1 d779289dfwp.htm FWP
Issuer Free Writing Prospectus
Filed Pursuant to Rule 433
Registration Statement No. 333-216150
July 23, 2019
UNITEDHEALTH GROUP INCORPORATED
FINAL TERM SHEET
Dated July 23, 2019
$750,000,000 2.375% NOTES DUE AUGUST 15, 2024
$1,000,000,000 2.875% NOTES DUE AUGUST 15, 2029
$1,250,000,000 3.500% NOTES DUE AUGUST 15, 2039
$1,250,000,000 3.700% NOTES DUE AUGUST 15, 2049
$1,250,000,000 3.875% NOTES DUE AUGUST 15, 2059
Issuer:
UnitedHealth Group Incorporated
Ratings (Moody's / S&P / Fitch)*:
A3 (Stable) / A+ (Stable) / A- (Stable)
Note Type:
SEC Registered (No. 333-216150)
Trade Date:
July 23, 2019
Settlement Date (T+2):
July 25, 2019
Maturity Date:
August 15, 2024 (the "2024 Notes")
August 15, 2029 (the "2029 Notes")
August 15, 2039 (the "2039 Notes")
August 15, 2049 (the "2049 Notes")
August 15, 2059 (the "2059 Notes")
Principal Amount Offered:
$750,000,000 (2024 Notes)
$1,000,000,000 (2029 Notes)
$1,250,000,000 (2039 Notes)
$1,250,000,000 (2049 Notes)
$1,250,000,000 (2059 Notes)
Price to Public (Issue Price):
99.975% (2024 Notes)
99.973% (2029 Notes)
99.016% (2039 Notes)
99.656% (2049 Notes)
99.112% (2059 Notes)
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FWP
https://www.sec.gov/Archives/edgar/data/731766/0001193125192003...
Net Proceeds (Before Expenses) to Issuer:
$747,187,500 (99.625%) (2024 Notes)
$995,230,000 (99.523%) (2029 Notes)
$1,229,575,000 (98.366%) (2039 Notes)
$1,236,325,000 (98.906%) (2049 Notes)
$1,228,900,000 (98.312%) (2059 Notes)
Interest Rate:
2.375% (2024 Notes)
2.875% (2029 Notes)
3.500% (2039 Notes)
3.700% (2049 Notes)
3.875% (2059 Notes)
Interest Payment Dates:
February 15 and August 15, commencing February 15, 2020 (2024 Notes)
February 15 and August 15, commencing February 15, 2020 (2029 Notes)
February 15 and August 15, commencing February 15, 2020 (2039 Notes)
February 15 and August 15, commencing February 15, 2020 (2049 Notes)
February 15 and August 15, commencing February 15, 2020 (2059 Notes)
Regular Record Dates:
February 1 and August 1 (2024 Notes)
February 1 and August 1 (2029 Notes)
February 1 and August 1 (2039 Notes)
February 1 and August 1 (2049 Notes)
February 1 and August 1 (2059 Notes)
Benchmark:
T 1.750% due June 30, 2024 (2024 Notes)
T 2.375% due May 15, 2029 (2029 Notes)
T 3.000% due February 15, 2049 (2039 Notes)
T 3.000% due February 15, 2049 (2049 Notes)
T 3.000% due February 15, 2049 (2059 Notes)
Benchmark Price / Yield:
99-20 / 1.830% (2024 Notes)
102-20 / 2.078% (2029 Notes)
107-26 / 2.619% (2039 Notes)
107-26 / 2.619% (2049 Notes)
107-26 / 2.619% (2059 Notes)
Spread to Benchmark:
+55 basis points (2024 Notes)
+80 basis points (2029 Notes)
+95 basis points (2039 Notes)
+110 basis points (2049 Notes)
+130 basis points (2059 Notes)
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FWP
https://www.sec.gov/Archives/edgar/data/731766/0001193125192003...
Re-offer Yield:
2.380% (2024 Notes)
2.878% (2029 Notes)
3.569% (2039 Notes)
3.719% (2049 Notes)
3.919% (2059 Notes)
Optional Redemption Provisions:
Make-whole call at any time at a discount rate of U.S. Treasury plus 10 basis points (2024 Notes).
Make-whole call at any time at a discount rate of U.S. Treasury plus 12.5 basis points (2029 Notes).
Prior to February 15, 2039 (6 months prior to their maturity date), make-whole call at any time at a
discount rate of U.S. Treasury plus 15 basis points; par call on or after February 15, 2039 (2039 Notes).
Prior to February 15, 2049 (6 months prior to their maturity date), make-whole call at any time at a
discount rate of U.S. Treasury plus 20 basis points; par call on or after February 15, 2049 (2049 Notes).
Prior to February 15, 2059 (6 months prior to their maturity date), make-whole call at any time at a
discount rate of U.S. Treasury plus 20 basis points; par call on or after February 15, 2059 (2059 Notes).
Change of Control:
If a Change of Control Triggering Event occurs, the Company will be required to make an offer to
repurchase the Notes at a price equal to 101% of the principal amount of the Notes, plus accrued and
unpaid interest to, but not including, the date of repurchase.
Day Count:
30/360
Business Day:
Any day except a Saturday, a Sunday or a day on which banking institutions in New York, New York or
Minneapolis, Minnesota are authorized or required by law, regulation or executive order to close.
CUSIP / ISIN:
91324P DR0 / US91324PDR01 (2024 Notes)
91324P DS8 / US91324PDS83 (2029 Notes)
91324P DT6 / US91324PDT66 (2039 Notes)
91324P DU3 / US91324PDU30 (2049 Notes)
91324P DV1 / US91324PDV13 (2059 Notes)
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FWP
https://www.sec.gov/Archives/edgar/data/731766/0001193125192003...
Joint Book-Running Managers:
BofA Securities, Inc.
Barclays Capital Inc.
Citigroup Global Markets Inc.
U.S. Bancorp Investments, Inc.
Wells Fargo Securities, LLC
Credit Suisse Securities (USA) LLC
Deutsche Bank Securities Inc.
Goldman Sachs & Co. LLC
J.P. Morgan Securities LLC
Mizuho Securities USA LLC
Morgan Stanley & Co. LLC
RBC Capital Markets, LLC
Senior Co-Managers:
BB&T Capital Markets, a division of BB&T Securities, LLC
KeyBanc Capital Markets Inc.
PNC Capital Markets LLC
Santander Investment Securities Inc.
TD Securities (USA) LLC
Co-Managers:
Academy Securities, Inc.
BMO Capital Markets Corp.
BNY Mellon Capital Markets, LLC
Cabrera Capital Markets
Fifth Third Securities, Inc.
HSBC Securities (USA) Inc.
MUFG Securities Americas Inc.
Regions Securities LLC
SunTrust Robinson Humphrey, Inc.
The Huntington Investment Company
The Williams Capital Group, L.P.
* 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.
* * *
The issuer has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the "SEC") for the
offering to which this communication relates. 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. You may get 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 if you request it by calling BofA Securities, Inc. toll-free at (800) 294-1322, Barclays Capital
Inc.
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FWP
https://www.sec.gov/Archives/edgar/data/731766/0001193125192003...
toll-free at (888) 603-5847, Citigroup Global Markets Inc. toll-free at (800) 831-9146, U.S. Bancorp Investments, Inc. toll-free at (877) 558-2607
and Wells Fargo Securities, LLC toll-free at (800) 645-3751. 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.
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