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OpenBook Auction Terms: The Dow Chemical Company
Bear, Stearns & Co. Inc., WR Hambrecht + Co, HSBC, and The Williams Capital
Group, L.P. are the underwriters for the offering. A copy of the prospectus
can be obtained from Debt Capital Markets, WR Hambrecht + Co, 1 World Trade
Center, Suite 3311, New York, NY 10048.
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Final Terms
The Dow Chemical Company, US$ 300 Million, 5-year
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Issuer
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The Dow Chemical Company
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Issue Size
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US$ 300 Million
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Maturity
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08/15/2005
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| Coupon Rate
|
7% |
| Price |
99.554% |
| Yield |
7.108% |
| Clearing Spread |
101 bps |
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Settlement Dates
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Corporate: 08/18/2000
Benchmark Treasury: 08/16/2000
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Issue Date
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08/18/2000
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Settlement Terms
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Flat
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Type of Issue
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Senior Unsecured
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Coupon Dates
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Feb 15; Aug 15, commencing Feb 15, 2001
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Structure
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Non-Call Life
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Format
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Book Entry DTC
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Rating
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A1 (Outlook: Neg)/ A (Outlook: Stable) /A+ (Outlook: Stable)
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Benchmark Treasury
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6.75% due May 15, 2005 (CUSIP 9128276D9)
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Benchmark Treasury Sale
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Investors can sell up to 110% of the notional amount of their award up
to 20 minutes after auction close
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Maximum Benchmark Rate
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6.20% (auction may be cancelled if benchmark yield exceeds this rate)
|
| Minimum/Maximum
Spread |
92 - 102 bps
|
Protected
Spread |
4 bps
|
|
Auction Date/Time
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August 15, 2000 / 10:00AM - 12NOON EDT
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|
Pricing Time
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Approximately 12:30PM EDT
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Maximum Purchase Limit
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The lower of your purchase limit or $75.0 million
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Minimum/Multiple
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Competitive: $1,000,000/$1,000
Non-Competitive: $1,000/$1,000
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Listed
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N/A
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Soft Dollar Terms
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20% on all winning bids time-stamped in the first 20 minutes; 5% on all
other winning bids
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Joint Managers
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Bear, Stearns & Co. Inc.
WR Hambrecht + Co
HSBC
The Williams Capital Group, L.P.
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Clearing Agent
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HSBC
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