Obligation Air Lease Corp 3.25% ( US00914AAE29 ) en USD

Air Lease Corp

100 % ▲

Etats-unis

US00914AAE29 ( en USD )

3.25% par an ( paiement semestriel )

30/09/2029

Prospectus brochure de l'obligation Air Lease Corp US00914AAE29 en USD 3.25%, échéance 30/09/2029

2 000 USD

500 000 000 USD

00914AAE2

BBB ( Qualité moyenne inférieure )

N/A

01/04/2025 ( Dans 20 jours )

Air Lease Corporation est une société de location d'avions commerciaux basée aux États-Unis, opérant une flotte diversifiée d'avions de passagers et de fret qu'elle loue à des compagnies aériennes du monde entier.

L'Obligation émise par Air Lease Corp ( Etats-unis ) , en USD, avec le code ISIN US00914AAE29, paye un coupon de 3.25% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 30/09/2029
L'Obligation émise par Air Lease Corp ( Etats-unis ) , en USD, avec le code ISIN US00914AAE29, a été notée BBB ( Qualité moyenne inférieure ) par l'agence de notation Standard & Poor's ( S&P ).

FWP
https://www.sec.gov/Archives/edgar/data/1487712/000119312519241...
FWP 1 d785892dfwp.htm FWP
Free Writing Prospectus
Filed Pursuant to Rule 433
Registration No. 333-224828
Supplementing the Prospectus Supplement
dated November 20, 2018 (to Prospectus dated November 20, 2018)
AIR LEASE CORPORATION
$600,000,000 2.250% MEDIUM-TERM NOTES, SERIES A, DUE JANUARY 15, 2023
$500,000,000 3.250% MEDIUM-TERM NOTES, SERIES A, DUE OCTOBER 1, 2029
PRICING TERM SHEET
DATE: SEPTEMBER 9, 2019
Issuer:
Air Lease Corporation
Ratings*:
Standard & Poor's Ratings Services: BBB (stable outlook)
Fitch Ratings: BBB (stable outlook)
Kroll Bond Rating Agency: A- (stable outlook)
Security Description:
2.250% Medium-Term Notes, Series A, due January 15, 2023 (the "2023 Notes")
3.250% Medium-Term Notes, Series A, due October 1, 2029 (the "2029 Notes" and, together
with the 2023 Notes, the "Notes")
CUSIP:
2023 Notes: 00914AAD4
2029 Notes: 00914AAE2
ISIN:
2023 Notes: US00914AAD46
2029 Notes: US00914AAE29
Principal Amount:
$600,000,000 of 2023 Notes
$500,000,000 of 2029 Notes
Net Proceeds (before expenses):
$1,084,181,000
Trade Date:
September 9, 2019
Settlement Date:
September 16, 2019 (T+5)
The Issuer expects that delivery of Notes will be made to investors on the Settlement Date,
which will be the fifth business day following the date hereof (such settlement being referred
to as "T+5"). Under Rule 15c6-1 under the Exchange Act, trades in the secondary market are
required to settle in two business days, unless the parties to any such trade expressly agree
otherwise. Accordingly, purchasers who wish to trade Notes on the date hereof or the next two
succeeding business days will be required, by virtue of the fact that the notes initially settle in
T+5, to specify an alternate settlement arrangement at the time of any such trade to prevent a
failed settlement. Purchasers of Notes who wish to trade Notes prior to their date of delivery
hereunder should consult their advisors.
Maturity Date:
2023 Notes: January 15, 2023
2029 Notes: October 1, 2029
Coupon:
2023 Notes: 2.250%
2029 Notes: 3.250%
Issue Price:
2023 Notes: 99.286% of face amount
2029 Notes: 98.883% of face amount
Benchmark Treasury:
2023 Notes: 1.500% due August 15, 2022
2029 Notes: 1.625% due August 15, 2029
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Benchmark Treasury Spot / Yield:
2023 Notes: 99-29 3/4 / 1.525%
2029 Notes: 99-30 / 1.632%
Spread to Benchmark Treasury:
2023 Notes: +95 basis points
2029 Notes: +175 basis points
Yield to Maturity:
2023 Notes: 2.475%
2029 Notes: 3.382%
Interest Payment Frequency:
2023 Notes: Semi-annual
2029 Notes: Semi-annual
Interest Payment Dates:
2023 Notes: January 15 and July 15, beginning on January 15, 2020 (short first coupon)
2029 Notes: April 1 and October 1, beginning on April 1, 2020 (long first coupon)
Regular Record Dates:
2023 Notes: Every January 1 and July 1
2029 Notes: Every March 15 and September 15
Day Count Fraction:
2023 Notes: 30/360
2029 Notes: 30/360
Business Day Convention:
2023 Notes: Following
2029 Notes: Following
Business Days:
2023 Notes: New York
2029 Notes: New York
Optional Redemption:
2023 Notes: On any date prior to January 15, 2023, we may redeem the 2023 Notes, at our
option, in whole or in part at a redemption price equal to 100% of the aggregate principal
amount of the 2023 Notes plus an Applicable Premium, plus accrued and unpaid interest, if
any, to the redemption date.
2029 Notes: On any date prior to July 1, 2029, we may redeem the 2029 Notes, at our option,
in whole or in part at a redemption price equal to 100% of the aggregate principal amount of
the 2029 Notes plus an Applicable Premium, plus accrued and unpaid interest, if any, to the
redemption date. On or after July 1, 2029, we may redeem the 2029 Notes, at our option, in
whole or in part at a redemption price equal to 100% of the aggregate principal amount of the
2029 Notes plus accrued and unpaid interest, if any, to the redemption date.
"Applicable Premium" means, (A) with respect to a 2023 Note on any date of redemption, the
excess, if any, of (x) the present value as of such date of redemption of (i) 100% of the
principal amount of such 2023 Note plus (ii) all required interest payments due on such 2023
Note through January 15, 2023 (excluding accrued but unpaid interest to the date of
redemption), computed using a discount rate equal to the Applicable Treasury Rate as of such
date of redemption plus 15 basis points, over (y) the then outstanding principal of such 2023
Note and (B) with respect to a 2029 Note on any date of redemption, the excess, if any, of
(x) the present value as of such date of redemption of (i) 100% of the principal amount of such
2029 Note plus (ii) all required interest payments due on such 2029 Note through July 1, 2029,
assuming such 2029 Note matured on such date (excluding accrued but unpaid interest to the
date of redemption), computed using a discount rate equal to the Applicable Treasury Rate as
of such date of redemption plus 30 basis points, over (y) the then outstanding principal of such
2029 Note.
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"Applicable Treasury Rate" means as of any date of redemption of (A) the 2023 Notes, the
yield to stated maturity at the time of computation of United States Treasury securities with a
constant maturity (as compiled and published in the most recent statistical release designated
as "H.15" under the caption "Treasury constant maturities" or any successor publication which
is published at least weekly by the Board of Governors of the Federal Reserve System (or
companion online data resource published by the Board of Governors of the Federal Reserve
System) and which establishes yields on actively traded United States Treasury securities
adjusted to constant maturity that has become publicly available at least two Business Days
prior to the redemption date (or, if such statistical release is no longer published, any publicly
available source or similar market data)) most nearly equal to the period from the redemption
date to January 15, 2023; provided, however, that if the period from the redemption date to
January 15, 2023 is not equal to the constant maturity of a United States Treasury security for
which a weekly average yield is given, the Applicable Treasury Rate shall be obtained by
linear interpolation (calculated to the nearest one-twelfth of a year) from the weekly average
yields of United States Treasury securities for which such yields are given, except that if the
period from the redemption date to January 15, 2023 is less than one year, the weekly average
yield on actually traded United States Treasury securities adjusted to a constant maturity of
one year will be used or (B) the 2029 Notes, the yield to stated maturity at the time of
computation of United States Treasury securities with a constant maturity (as compiled and
published in the most recent statistical release designated as "H.15" under the caption
"Treasury constant maturities" or any successor publication which is published at least weekly
by the Board of Governors of the Federal Reserve System (or companion online data resource
published by the Board of Governors of the Federal Reserve System) and which establishes
yields on actively traded United States Treasury securities adjusted to constant maturity that
has become publicly available at least two Business Days prior to the redemption date (or, if
such statistical release is no longer published, any publicly available source or similar market
data)) most nearly equal to the period from the redemption date to July 1, 2029; provided,
however, that if the period from the redemption date to July 1, 2029 is not equal to the
constant maturity of a United States Treasury security for which a weekly average yield is
given, the Applicable Treasury Rate shall be obtained by linear interpolation (calculated to the
nearest one-twelfth of a year) from the weekly average yields of United States Treasury
securities for which such yields are given, except that if the period from the redemption date to
July 1, 2029 is less than one year, the weekly average yield on actually traded United States
Treasury securities adjusted to a constant maturity of one year will be used.
Change of Control Repurchase Event:
2023 Notes: Puttable at 101% of principal plus accrued and unpaid interest, if any, to the date
of purchase.
2029 Notes: Puttable at 101% of principal plus accrued and unpaid interest, if any, to the date
of purchase.
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Denominations/Multiples:
2023 Notes: $2,000 x $1,000
2029 Notes: $2,000 x $1,000
Governing Law:
2023 Notes: New York
2029 Notes: New York
Joint Book-Running Managers:
Fifth Third Securities, Inc.
J.P. Morgan Securities LLC
SG Americas Securities, LLC
Wells Fargo Securities, LLC
BMO Capital Markets Corp.
BofA Securities, Inc.
Loop Capital Markets LLC
Mizuho Securities USA LLC
MUFG Securities Americas Inc.
RBC Capital Markets, LLC
SunTrust Robinson Humphrey, Inc.
BNP Paribas Securities Corp.
ABN AMRO Securities (USA) LLC
Citigroup Global Markets Inc.
Citizens Capital Markets, Inc.
Goldman Sachs & Co. LLC
ICBC Standard Bank Plc
KeyBanc Capital Markets Inc.
NatWest Markets Securities Inc.
Regions Securities LLC
Santander Investment Securities Inc.
TD Securities (USA) LLC
Arab Banking Corporation B.S.C.
Commonwealth Bank of Australia
Co-Managers:
CIT Capital Securities LLC
Keefe, Bruyette & Woods, Inc.
Morgan Stanley & Co. LLC
* An explanation of the significance of ratings may be obtained from the rating agencies. Generally, rating agencies base their ratings on such material
and information, and such of their own investigations, studies and assumptions, as they deem appropriate. The rating of the notes should be evaluated
independently from similar ratings of other securities. 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.
Investing in Notes involves a number of risks. See "Risk Factors" included or incorporated by reference in the prospectus supplement dated
November 20, 2018 and the related prospectus dated November 20, 2018.
The Issuer has filed a registration statement including a prospectus and a prospectus supplement with the SEC for the offering to which this
communication relates. Before you invest, you should read the prospectus and prospectus supplement 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 obtain these documents
for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the Issuer, any underwriter or any dealer participating in the
offering will arrange to send you the prospectus and the prospectus supplement if you request them by contacting: (i) Fifth Third Securities,
Inc. by calling 1 (866) 531-5353, (ii) J.P. Morgan Securities LLC at 383 Madison Ave., New York, New York 10179 or by calling collect at 1 (212)
834-4533, (iii) SG Americas Securities, LLC by calling toll free at (855) 881-2108, or (iv) Wells Fargo Securities, LLC at 1 (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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