Eastman Chemical Company filed a free writing prospectus on November 2, 2026, disclosing the pricing terms for a $300,000,000 offering of 5.500% Senior Unsecured Notes due February 25, 2030.

Key Highlights

  • Principal amount: $300,000,000 in Senior Unsecured Notes offered at 99.884% of principal, with a coupon of 5.500%.
  • Yield to maturity: 5.542%, representing a spread of +90 basis points over the benchmark Treasury (4.875% due October 15, 2029).
  • Maturity date: February 25, 2030, with semi-annual interest payments on February 25 and August 25 each year, beginning February 25, 2027.
  • Settlement: Expected November 12, 2026 (T+7), via DTC clearing.
  • Expected credit ratings: Baa2 (negative) from Moody's and BBB (negative) from S&P.
  • Change of control: Upon a triggering event, the company will be required to offer to repurchase notes at 101% of principal plus accrued and unpaid interest.
  • Use of proceeds: The company disclosed it intends to use net proceeds for "general corporate purposes," which may include working capital, capital expenditures, and repayment of other indebtedness.

Eastman Chemical's November 2026 Note Offering: Pricing and Terms

According to the free writing prospectus filed under Rule 433 of the Securities Act of 1933 (Registration Statement No. 333-280083), Eastman Chemical Company priced $300,000,000 in aggregate principal amount of 5.500% Senior Unsecured Notes due February 25, 2030. The notes were priced at 99.884% of the principal amount, plus accrued interest from and including the settlement date of November 12, 2026. The yield to maturity was disclosed as 5.542%, with a spread of +90 basis points over the benchmark Treasury security, a 4.875% note due October 15, 2029, which was priced at 100-20-1/4 and yielded 4.642%, according to the filing.

The filing states the notes are SEC-registered and denominated in minimum increments of $2,000, with integral multiples of $1,000 in excess thereof. Interest is payable semi-annually on February 25 and August 25, beginning February 25, 2027, under a 30/360 day count convention. The make-whole call provision applies prior to January 25, 2030 at T+15 basis points, and a par call is available on or after January 25, 2030, the filing disclosed. The CUSIP number is 277432 BC3 and the ISIN is US277432BC31.

Six joint book-running managers are named in the filing: Citigroup Global Markets Inc., Mizuho Securities USA LLC, BofA Securities, Inc., J.P. Morgan Securities LLC, Morgan Stanley and Co. LLC, and Wells Fargo Securities, LLC. The filing notes that the pricing term sheet supplements a preliminary prospectus supplement also issued on November 2, 2026, relating to a base prospectus dated June 10, 2024, and that the information in the term sheet supersedes inconsistent information in that preliminary prospectus.

What Was Disclosed

Eastman Chemical Company disclosed the final pricing terms for a $300,000,000 offering of 5.500% Senior Unsecured Notes due 2030, including coupon, yield, spread, settlement date, call provisions, change of control terms, and intended use of proceeds.