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Fortune Brands Announces Pricing Of Tender Offers

Stocks in this article: FO

Fortune Brands, Inc. (NYSE:FO) today reported the Total Consideration and Tender Offer Consideration in respect of its previously announced tender offers (the "Tender Offers") for up to an aggregate purchase price of $1.05 billion of its outstanding notes listed in the table below (collectively, the "Notes"). The terms and conditions of the Tender Offers are set forth in Fortune Brands’ Offer to Purchase dated July 28, 2011 and the related Letter of Transmittal, as amended as described in Fortune Brands' press release of August 11, 2011.

The Total Consideration for each $1,000 principal amount of Notes validly tendered and not validly withdrawn at or before the Early Tender Date of 5:00 p.m. New York City time on August 10, 2011 and accepted for purchase pursuant to the Tender Offers will be the amount listed below for the Notes, which amount includes an Early Tender Payment of $30 per $1,000 principal amount of Notes accepted for purchase. The Total Consideration was determined by reference to the applicable fixed spread specified in the table below for the Notes over the yield based on the bid side price of the applicable U.S. Treasury Reference Security specified in the table below, as calculated by the Lead Dealer Managers for the Tender Offers at 11:00 a.m. New York City time, today. Notes validly tendered after the Early Tender Date and at or before the Expiration Date of 11:59 p.m. New York City time on August 24, 2011 and accepted for purchase pursuant to the Tender Offers will receive the Tender Offer Consideration listed below, specifically the Total Consideration less Early Tender Payment.

In addition to the Total Consideration or Tender Offer Consideration, as applicable, holders who tendered Notes that are accepted for payment in the Tender Offers will be paid any accrued and unpaid interest calculated up to but not including the settlement date. The settlement date is expected to be August 25, 2011, which is one day after the Expiration Date, or promptly thereafter.

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