424B3 1 d516575d424b3.htm 424B3 424B3

The information in this preliminary pricing supplement is not complete and may be changed. This preliminary pricing supplement and the accompanying prospectus supplement and prospectus are not offers to sell these securities and are not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.

Subject to completion

Preliminary Pricing Supplement dated August 14, 2023

Filed under 424(b)(3), Registration Statement No. 333-265556-01

Pricing Supplement No. 35 - Dated Monday, August 14, 2023 (To: Prospectus Dated June 13, 2022, and Prospectus Supplement Dated July 22, 2022)

 

CUSIP
Number

  

Principal
Amount

  

Selling Price

  

Gross
Concession

  

Net
Proceeds

  

Coupon
Rate

  

Coupon
Frequency

  

Maturity
Date

  

1st Coupon
Date

  

1st Coupon
Amount

  

Survivor’s
Option

  

Product
Ranking

26054MC74

     100%   1.250%     5.200%   Semi-Annual   08/15/2028   02/15/2024   $24.70   Yes  

Senior Unsecured Notes

Redemption Information: Callable at 100.000% on 2/15/2024 and any time thereafter.

Joint Lead Managers and Lead Agents: InspereX LLC Agents: Citigroup, Wells Fargo Advisors

This tranche of The Dow Chemical Company InterNotes will be subject to redemption at the option of The Dow Chemical , in whole or in part, on the interest payment date occurring on 02/15/2024 and any time thereafter at a redemption price equal to 100% of the principal amount of such The Dow Chemical Company InterNotes plus accrued interest thereon, if any, upon not less than 10 nor more than 60 days prior notice to the noteholder and the trustee, as described in the prospectus.

Investment advisers purchasing for the account of their advisory clients and selected dealers purchasing on an agency basis or for their own accounts on a principal or riskless principal basis, may be offered Notes at a 0.8500% discount to the public offering rate. Notes purchased by selected dealers in level-fee and retirement accounts may be sold to such accounts at a discount up to 0.8500% to the public offering price, thereby not retaining any portion of the discount as compensation.

 

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

26054MC82       100%   1.800%       5.500%   Semi-Annual   08/15/2033   02/15/2024   $26.13   Yes  

Senior Unsecured Notes

Redemption Information: Callable at 100.000% on 2/15/2024 and any time thereafter.

 

Joint Lead Managers and Lead Agents: InspereX LLC            Agents: Citigroup, Wells Fargo Advisors

 

This tranche of The Dow Chemical Company InterNotes will be subject to redemption at the option of The Dow Chemical , in whole or in part, on the interest payment date occurring on 02/15/2024 and any time thereafter at a redemption price equal to 100% of the principal amount of such The Dow Chemical Company InterNotes plus accrued interest thereon, if any, upon not less than 10 nor more than 60 days prior notice to the noteholder and the trustee, as described in the prospectus.

 

Investment advisers purchasing for the account of their advisory clients and selected dealers purchasing on an agency basis or for their own accounts on a principal or riskless principal basis, may be offered Notes at a 1.2500% discount to the public offering rate. Notes purchased by selected dealers in level-fee and retirement accounts may be sold to such accounts at a discount up to 1.2500% to the public offering price, thereby not retaining any portion of the discount as compensation.

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

26054MC90

     100%   3.150%     6.100%   Semi-Annual   08/15/2053   02/15/2024   $28.98   Yes  

Senior Unsecured Notes

Redemption Information: Callable at 100.000% on 2/15/2024 and any time thereafter.

 

Joint Lead Managers and Lead Agents: InspereX LLC            Agents: Citigroup, Wells Fargo Advisors

 

This tranche of The Dow Chemical Company InterNotes will be subject to redemption at the option of The Dow Chemical , in whole or in part, on the interest payment date occurring on 02/15/2024 and any time thereafter at a redemption price equal to 100% of the principal amount of such The Dow Chemical Company InterNotes plus accrued interest thereon, if any, upon not less than 10 nor more than 60 days prior notice to the noteholder and the trustee, as described in the prospectus.

 

Investment advisers purchasing for the account of their advisory clients and selected dealers purchasing on an agency basis or for their own accounts on a principal or riskless principal basis, may be offered Notes at a 2.4000% discount to the public offering rate. Notes purchased by selected dealers in level-fee and retirement accounts may be sold to such accounts at a discount up to 2.4000% to the public offering price, thereby not retaining any portion of the discount as compensation.

 

 

LOGO

 

The Dow Chemical

2211 H.H. Dow Way

Midland, Michigan 48674

   

Trade Date: Monday, August 21, 2023 @ 12:00 PM ET

Settle Date: Thursday, August 24, 2023

Minimum Denomination/Increments: $1,000.00/$1,000.00

Initial trades settle flat and clear SDFS: DTC Book Entry only

DTC Number 0235 via RBC Dain Rauscher Inc

   

The Dow Chemical

The Dow Chemical InterNotes

  

 

If the maturity date or an interest payment date for any note is not a business day (as such term is defined in prospectus), principal and premium, if any, and interest for that note is paid on the next business day, and no further such interest will accrue from, and including, the maturity date or such interest payment date.

   
  

 

InterNotes® is a registered trademark of InspereX Holdings LLC. All Rights Reserved.