Moody's Corporation filed a Free Writing Prospectus on November 9, 2026, disclosing pricing terms for a €500,000,000 offering of 4.125% Senior Notes due November 12, 2033, with settlement expected on November 12, 2026.

Key Highlights

  • Principal Amount: €500,000,000 in 4.125% Senior Notes due 2033, priced at a public offering price of 99.221%.
  • Yield to Maturity: 4.256%, with a spread to the benchmark Bund of +110.1 basis points.
  • Spread to Mid-Swap Yield: +98 basis points over a mid-swap yield of 3.276%.
  • Settlement Date: November 12, 2026 (T+3), with annual interest payments commencing November 12, 2027.
  • Credit Ratings: Rated A- by S&P Global Ratings and BBB+ by Fitch Ratings, according to the filing.
  • Expected Listing: The issuer intends to apply to list the Notes on the New York Stock Exchange, with trading expected to begin within 30 days of issuance.
  • Call Features: Make-whole call prior to August 12, 2033 at the Comparable Government Bond Rate plus 20 basis points; par call on or after August 12, 2033 at 100% of principal.

Moody's Corporation Euro-Denominated Note Offering: Pricing and Terms

According to the Free Writing Prospectus filed pursuant to Rule 433 under Registration Statement No. 333-293584, Moody's Corporation priced €500,000,000 of 4.125% Senior Notes due November 12, 2033, on a trade date of November 9, 2026. The public offering price was set at 99.221% of principal. The filing states that the yield to maturity is 4.256%, based on a spread of +110.1 basis points over the benchmark Bund, which the filing identifies as the 3.300% Bund due November 15, 2033, priced at 100.890 with a yield of 3.155%.

The filing discloses that interest will be paid annually on November 12, beginning November 12, 2027, using an ACTUAL/ACTUAL (ICMA) day count convention. Notes will be issued in denominations of €100,000 x €1,000, and the ISIN is listed as XS3560950902 with Common Code 356095090. The issuer stated it intends to apply to list the Notes on the New York Stock Exchange, with trading in the Notes expected to begin within 30 days of issuance.

Joint book-running managers named in the filing are BNP PARIBAS, Citigroup Global Markets Limited, J.P. Morgan Securities plc, HSBC Bank plc, and Merrill Lynch International. The filing also names multiple co-managers including Goldman Sachs & Co. LLC, Mizuho International plc, Wells Fargo Securities International Limited, and others. The filing notes that the Notes are not available to retail investors in the European Economic Area or the United Kingdom, and are targeted at eligible counterparties and professional clients only.

What Was Disclosed

Moody's Corporation disclosed the full pricing terms for a €500,000,000 euro-denominated senior note offering due 2033, including coupon, yield, spread, public offering price, call features, ratings, settlement date, and syndicate composition.