Issuer Free Writing Prospectus

Filed Pursuant to Rule 433

Registration No. 333-176308

August 15, 2011

 

Occidental Petroleum Corporation

 

Final Term Sheet

 

August 15, 2011

 

$1,250,000,000 1.750% Senior Notes due 2017
$900,000,000 3.125% Senior Notes due 2022

 

Issuer:

 

Occidental Petroleum Corporation

Anticipated Ratings

 

 

(Moody’s / S&P / Fitch):*

 

A2/A/A (Stable/Stable/Stable)

Trade Date:

 

August 15, 2011

Settlement Date:

 

August 18, 2011 (T+3)

Registration:

 

Registration Statement No.  333-176308

 

 

 

1.750% Senior Notes due 2017

 

 

Principal Amount:

 

$1,250,000,000

Maturity:

 

February 15, 2017

Interest Payment Dates:

 

Semi-annually in arrears on February 15 and August 15, commencing February 15, 2012

Coupon:

 

1.750% per year, accruing from August 18, 2011

Benchmark Treasury:

 

1.50% due July 2016

Benchmark Treasury Yield:

 

0.984%

Spread to Benchmark Treasury:

 

+95 bps

Yield to Maturity:

 

1.934%

Initial Price to Public:

 

99.046% per 2017 note

Make-Whole Call:

 

At any time at the greater of (i) 100% of the principal amount and (ii) the present value of remaining scheduled payments of principal and interest (excluding interest accrued to the redemption date) discounted at the Adjusted Treasury Rate (as defined in the preliminary prospectus supplement referred to below) plus 15 basis points.

CUSIP / ISIN:

 

674599CB9 / US674599CB95

 

 

 

3.125% Senior Notes due 2022

 

 

Principal Amount:

 

$900,000,000

Maturity:

 

February 15, 2022

Interest Payment Dates:

 

Semi-annually in arrears on February 15 and August 15, commencing February 15, 2012

Coupon:

 

3.125% per year, accruing from August 18,

 

* Note : A securities rating is not a recommendation to buy, sell or hold securities and may be revised or withdrawn at any time.

 


 

 

 

2011

Benchmark Treasury:

 

2.125% due August 2021

Benchmark Treasury Yield:

 

2.292%

Spread to Benchmark Treasury:

 

+105 bps

Yield to Maturity:

 

3.342%

Initial Price to Public:

 

98.093% per 2022 note

Make-Whole Call; Par Call:

 

At any time prior to November 15, 2021 at the greater of (i) 100% of the principal amount and (ii) the present value of remaining scheduled payments of principal and interest (excluding interest accrued to the redemption date) discounted at the Adjusted Treasury Rate (as defined in the preliminary prospectus supplement referred to below) plus 20 basis points; at any time on and after November 15, 2021, at 100% of the principal amount, plus accrued and unpaid interest.

CUSIP / ISIN:

 

674599CC7 / US674599CC78

 

 

 

Joint Book-Running Managers:

 

Barclays Capital Inc.

 

 

Citigroup Global Markets Inc.

 

 

J.P. Morgan Securities LLC

 

 

Merrill Lynch, Pierce, Fenner & Smith

 

 

Incorporated

 

 

Wells Fargo Securities, LLC

Co-Managers:

 

Banca IMI S.p.A.

 

 

Banco Bilbao Vizcaya Argentaria, S.A.

 

 

BNP Paribas Securities Corp.

 

 

BNY Mellon Capital Markets, LLC

 

 

Credit Suisse Securities (USA) LLC

 

 

Mitsubishi UFJ Securities (USA), Inc.

 

 

Mizuho Securities USA Inc.

 

 

RBS Securities Inc.

 

 

Scotia Capital (USA) Inc.

 

 

SG Americas Securities, LLC

 

 

Standard Chartered Bank

 

 

UBS Securities LLC

 

The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates.  Before you invest, you should read 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 if you request it by calling Barclays Capital Inc. toll-free at 1-888-603-

 


 

5847, Citigroup Global Markets Inc. toll-free at 1-877-858-5407 or J.P. Morgan Securities LLC collect at 212-834-4533.

 

This final term sheet supplements, and should be read in conjunction with, Occidental Petroleum Corporation’s preliminary prospectus supplement dated August 15, 2011 and accompanying prospectus dated August 15, 2011 and the documents incorporated by reference therein.

 

Any disclaimer or other notice that may appear below is not applicable to this communication and should be disregarded.  Such disclaimer or notice was automatically generated as a result of this communication being sent by Bloomberg or another email system.