# EDGAR Filing Document

**Accession Number:** 0000040704
**File Stem:** 0001193125-23-080498
**Filing Date:** 2023-3
**Character Count:** 4900
**Document Hash:** 8007bf74e38d0bb59163e6f39e5de824
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-080498.hdr.sgml**: 20230327

**ACCESSION NUMBER**: 0001193125-23-080498

**CONFORMED SUBMISSION TYPE**: FWP

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20230327

**DATE AS OF CHANGE**: 20230327

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GENERAL MILLS INC
- **CENTRAL INDEX KEY:** 0000040704
- **STANDARD INDUSTRIAL CLASSIFICATION:** GRAIN MILL PRODUCTS [2040]
- **IRS NUMBER:** 410274440
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0530

**FILING VALUES:**
- **FORM TYPE:** FWP
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-259827
- **FILM NUMBER:** 23764821

**BUSINESS ADDRESS:**
- **STREET 1:** NUMBER ONE GENERAL MILLS BLVD
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55426
- **BUSINESS PHONE:** (763) 764-7600

**MAIL ADDRESS:**
- **STREET 1:** P O BOX 1113
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55440
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GENERAL MILLS INC
- **CENTRAL INDEX KEY:** 0000040704
- **STANDARD INDUSTRIAL CLASSIFICATION:** GRAIN MILL PRODUCTS [2040]
- **IRS NUMBER:** 410274440
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0530

**FILING VALUES:**
- **FORM TYPE:** FWP

**BUSINESS ADDRESS:**
- **STREET 1:** NUMBER ONE GENERAL MILLS BLVD
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55426
- **BUSINESS PHONE:** (763) 764-7600

**MAIL ADDRESS:**
- **STREET 1:** P O BOX 1113
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55440

Filed pursuant to Rule 433

Registration No. 333-259827

**GENERAL MILLS, INC.** 

**PRICING TERM SHEET** 

March 27, 2023

<u>$1,000,000,000 4.950% Notes due 2033</u> 

---

| | |
|:---|:---|
|  Issuer: | General Mills, Inc. |
|  Issuer Ratings & Outlook\*: | Baa2 / BBB (Stable/Stable) (Moody's/S&P) |
|  Offering Format: | SEC Registered |
|  Trade Date: | March 27, 2023 |
|  Settlement Date: | March 29, 2023 (T+2) |
|  Day Count Convention: | 30 / 360 |
|  Title: | 4.950% Notes due 2033 |
|  Principal Amount: | $1000000000 |
|  Maturity Date: | March 29, 2033 |
|  Coupon (Interest Rate): | 4.950% |
|  Price to Public: | 99.797% |
|  Yield to Maturity: | 4.976% |
|  Spread to Benchmark Treasury: | +145 bps |
|  Benchmark Treasury: | UST 3.500% due February 15, 2033 |
|  Benchmark Treasury Price / Yield: | 99-25; 3.526% |
|  Interest Payment Dates: | Semi-annually on each March 29 and September 29, commencing September 29, 2023 |
|  CUSIP / ISIN: | 370334 CT9 / US370334CT90 |
|  Optional Redemption Provisions:  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Make-whole Redemption: | At any time prior to December 29, 2032 at a discount rate of T+25 basis points |
|  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Par Redemption: | At any time on or after December 29, 2032 at 100% |
|  Change of Control Offer to Purchase: | If a change of control triggering event occurs, General Mills will be required to make an offer to purchase the notes at a purchase price equal to 101% of the principal amount of the notes, plus accrued and unpaid interest, if any, to the date of repurchase. |
|  Joint Book-Running Managers: | Barclays Capital, Inc. <br>BofA Securities, Inc. <br>Deutsche Bank Securities Inc. <br>J.P. Morgan Securities LLC |
|  Senior Co-Managers: | Morgan Stanley & Co. LLC <br>U.S. Bancorp Investments, Inc. <br>Wells Fargo Securities, LLC |

---

------

Co-Managers: Academy Securities, Inc. <br>Loop Capital Markets LLC <br>Samuel A. Ramirez & Company, Inc.

\* Note: A credit rating of a security 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's 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. at 1-888-603-5847, BofA Securities, Inc. at 1-800-294-1322, Deutsche Bank Securities Inc. at 1-800-503-4611 or J.P. Morgan Securities LLC at 1-212-834-4533.** 

**This pricing term sheet supplements the preliminary form of Prospectus Supplement issued by General Mills, Inc. on March 27, 2023 relating to its Prospectus dated September 27, 2021.** 

***ANY DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR BELOW ARE NOT APPLICABLE TO THIS COMMUNICATION AND SHOULD BE DISREGARDED. SUCH DISCLAIMERS OR OTHER NOTICES WERE AUTOMATICALLY GENERATED AS A RESULT OF THIS COMMUNICATION BEING SENT VIA BLOOMBERG OR ANOTHER EMAIL SYSTEM.***