Otis Worldwide Corporation filed a free writing prospectus on November 2, 2026, disclosing the final terms of a $500,000,000 offering of 5.825% Notes due November 5, 2036, registered under Registration Statement No. 333-293482.

Key Highlights

  • Principal amount: $500,000,000 in 5.825% Notes due November 5, 2036, priced at 100.000% of principal.
  • Net proceeds: $496,750,000 before expenses, reflecting an underwriting discount of 0.650%.
  • Spread: Priced at 95 basis points over the benchmark 4.625% U.S. Treasury due August 15, 2036, yielding 5.825% to maturity.
  • Use of proceeds: The company disclosed it intends to use the net proceeds, together with cash on hand, to fund repayment at maturity of its 2.293% Notes due April 5, 2027, of which $500 million principal amount was outstanding as of September 30, 2026.
  • Settlement: Trade date November 2, 2026; settlement date November 5, 2026 (T+3).
  • Expected ratings: Baa1 (Moody's) and BBB (S&P), with the filing noting that "a securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time."
  • Call features: Make-whole call prior to August 5, 2036 at Treasury Rate plus 15 basis points; par call on or after August 5, 2036.

Otis Worldwide's $500 Million Note Offering: Terms and Intended Use

According to the final term sheet filed on November 2, 2026, Otis Worldwide Corporation priced a $500,000,000 offering of 5.825% Notes due 2036 in a SEC-registered format. The notes carry a coupon of 5.825%, payable semi-annually on May 5 and November 5 of each year, beginning May 5, 2027, under a 30/360 day count convention. Interest payments will run through the maturity date of November 5, 2036.

The filing disclosed that the offering was priced at a spread of plus 95 basis points over the benchmark 4.625% U.S. Treasury due August 15, 2036, which carried a price of 98-02 and a yield of 4.875%. The underwriting discount is 0.650%, producing net proceeds of $496,750,000 before expenses. Minimum denominations are $2,000 by $1,000 increments, with CUSIP 68902V AU1 and ISIN US68902VAU17. The change of control offer is set at 101%.

The issuer stated it intends to use the net proceeds, together with cash on hand, to fund repayment at maturity of its 2.293% Notes due April 5, 2027, of which $500 million principal amount was outstanding as of September 30, 2026. The offering is led by seven joint book-running managers including Citigroup Global Markets Inc., Goldman Sachs and Co. LLC, and HSBC Securities (USA) Inc., along with multiple senior co-managers and co-managers. The prospectus referenced is dated February 13, 2026, with a preliminary prospectus supplement dated November 2, 2026.

What Was Disclosed

Otis Worldwide Corporation filed a free writing prospectus setting out the final terms of a $500,000,000 offering of 5.825% Notes due 2036, including pricing, call provisions, expected credit ratings, net proceeds, and the intended use of those proceeds to retire existing 2027 notes.