Filed Pursuant to Rule 433
Registration Number 333-180182
Supplementing the Preliminary
Prospectus Supplement dated
August 8, 2012 and the Prospectus
Dated March 16, 2012
$300,000,000
3.400% Senior Notes Due 2022
Leggett & Platt, Incorporated
August 8, 2012
Pricing Term Sheet
| Issuer |
Leggett & Platt, Incorporated | |||
| Expected Issuer Ratings* |
Baa1 (stable)/BBB+ (stable) (Moody’s/S&P) | |||
| Format |
SEC Registered | |||
| Principal Amount Trade Date |
$300,000,000 August 8, 2012 | |||
| Settlement Date |
August 15, 2012 (T+5) | |||
| Maturity |
August 15, 2022 | |||
| Interest Payment Dates |
February 15 and August 15 commencing on February 15, 2013 | |||
| Benchmark Treasury |
1.75% due May 15, 2022 | |||
| Benchmark Treasury Yield |
1.635 % | |||
| Spread to Benchmark Treasury |
T + 180 bps | |||
| Yield to Maturity |
3.435% | |||
| Coupon |
3.400 % | |||
| Optional Redemption: |
Prior to May 15, 2022, T + 30 bps On or after May 15, 2022, at par | |||
| Price to Public |
99.706% | |||
| Underwriting Discount |
0.650% | |||
| Price to Issuer |
99.056% | |||
| CUSIP/ISIN |
524660 AW7/US524660AW77 | |||
| Joint Book-Running Managers |
J.P. Morgan Securities LLC Wells Fargo Securities, LLC U.S. Bancorp Investments, Inc. | |||
| Senior Co-Manager |
Mitsubishi UFJ Securities (USA), Inc. | |||
| Co-Managers |
PNC Capital Markets LLC RBS Securities Inc. Suntrust Robinson Humphrey, Inc. TD Securities (USA) LLC Comerica Securities, Inc. Fifth Third Securities, Inc. UMB Financial Services, Inc. | |||
| Pro Forma Ratio of Earnings to Fixed Charges |
Six months ended June 30, 2012 |
Year ended December 31, 2011 | ||
| Pro forma ratio of earnings to fixed charges |
5.2 | 4.5 | ||
*Note: Security ratings reflect the views of the rating agency only. An explanation of the significance of these ratings may be obtained from the rating agency. Such ratings are not a recommendation to buy, sell or hold securities, but rather an indication of creditworthiness. Any rating can be revised upward or downward or withdrawn at any time by a rating agency if it decides that the circumstances warrant the change. Each rating should be evaluated independently of any other rating.
The underwriting agreement provides that the closing will occur on August 15, 2012, which is five business days after the date of this pricing term sheet. Rule 15c6-1 under the Securities Exchange Act of 1934 generally requires that securities trades in the secondary market settle in three business days, unless the parties to a trade expressly agree otherwise. Accordingly, purchasers who wish to trade notes on any date prior to the third business day before delivery will be required, by virtue of the fact that the notes will settle in five business days, to specify an alternative settlement cycle at the time of any such trade to prevent a failed settlement. Such purchasers should also consult their own advisors in this regard.
The issuer has filed a registration statement (including a preliminary prospectus supplement and accompanying prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the preliminary prospectus supplement for this offering, the prospectus 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 get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus supplement and accompanying prospectus if you request it by calling J.P.Morgan Securities LLC collect 212-834-4533, or Wells Fargo Securities, LLC toll-free at 800-326-5897 .
This pricing term sheet supplements the preliminary prospectus supplement filed by Leggett & Platt on August 8, 2012 relating to its Prospectus dated March 16, 2012.