Issuer Free Writing Prospectus
Filed Pursuant to Rule 433
Registration No. 333-155626
Campbell Soup Company
$500,000,000
10-Year Fixed Rate Senior Unsecured Notes
March 31, 2011
TERM SHEET
| Issuer: | Campbell Soup Company | |
| Issue Ratings: | A2 (Moody’s) / A (S&P) / A (Fitch) | |
| Size: | $500,000,000 | |
| Security Type: | SEC Registered Senior Unsecured Notes | |
| Maturity: | April 15, 2021 | |
| Coupon: | 4.250% | |
| Public Offering Price: | 99.490% | |
| Yield to Maturity: | 4.313% | |
| Spread to Benchmark Treasury: | 85 bps | |
| Benchmark Treasury: | 3.625% due February 15, 2021 | |
| Treasury Yield: | 3.463% | |
| Coupon Dates: | The 15th day of each April and October | |
| First Coupon: | October 15, 2011 | |
| Settlement: | T+3 (April 5, 2011) | |
| Optional Redemption: | Make-Whole Call at Adjusted Treasury Rate + 15 bps | |
| Day Count: | 30/360 | |
| CUSIP / ISIN: | 134429 AW9 / US134429AW93 | |
| Joint Book-Running Managers: | Merrill Lynch, Pierce, Fenner & Smith Incorporated Morgan Stanley & Co. Incorporated UBS Securities LLC | |
Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.
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 web site 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 Merrill Lynch, Pierce, Fenner & Smith Incorporated toll free at 1-800-294-1322, Morgan Stanley & Co. Incorporated toll free at 1-866-718-1649, or UBS Securities LLC toll free at 1-877-827-6444, Ext. 561-3884.