Hyatt Hotels Corporation filed a free writing prospectus on November 2, 2026, disclosing the pricing terms for a $400,000,000 offering of 5.950% Senior Notes due November 15, 2033, with settlement expected on November 12, 2026.

Key Highlights

  • Principal Amount: $400,000,000 in 5.950% Senior Notes due 2033
  • Price to Public: 99.688% of principal amount, plus accrued interest, if any
  • Reoffer Yield: 6.005%, at a spread of T+123 basis points over the benchmark Treasury
  • Settlement Date: November 12, 2026 (T+7), with interest payments on May 15 and November 15, commencing May 15, 2027
  • Credit Ratings: Baa3 (stable) by Moody's, BBB- (stable) by S&P Global, and BBB- (stable) by Fitch
  • Change of Control: If a Change of Control Triggering Event occurs, the issuer will be required to offer to purchase the notes at 101% of principal amount plus accrued and unpaid interest
  • Underwriting Discounts and Commissions: 0.625%

Hyatt Hotels Corporation Pricing Terms for November 2026 Senior Notes Offering

According to the free writing prospectus filed pursuant to Rule 433 under Registration Statement No. 333-298633, Hyatt Hotels Corporation priced $400,000,000 aggregate principal amount of 5.950% Senior Notes due November 15, 2033. The notes were priced at 99.688% of their principal amount, with a reoffer yield of 6.005%. The benchmark Treasury referenced was the 4.875% note due October 31, 2033, priced at 100-18 3/4 to yield 4.775%, with the new notes offered at a spread of 123 basis points over that benchmark, the filing disclosed.

The filing identified J.P. Morgan Securities LLC, U.S. Bancorp Investments, Inc., and Wells Fargo Securities, LLC as the first-listed joint book-running managers, alongside BofA Securities, Inc., Deutsche Bank Securities Inc., Goldman Sachs and Co. LLC, PNC Capital Markets LLC, Scotia Capital (USA) Inc., and Truist Securities, Inc. Senior co-managers listed are Fifth Third Securities, Inc., Credit Agricole Securities (USA) Inc., and SMBC Nikko Securities America, Inc. Co-managers are Loop Capital Markets LLC, Samuel A. Ramirez and Company, Inc., and Siebert Williams Shank and Co., LLC.

The filing outlined optional redemption terms: prior to September 15, 2033 (the Par Call Date), Hyatt may redeem the notes at the greater of a make-whole amount based on the Treasury Rate plus 20 basis points or 100% of principal, plus accrued and unpaid interest. On or after the Par Call Date, the notes may be redeemed at 100% of principal plus accrued and unpaid interest. The CUSIP is 448579 AX0 and the ISIN is US448579AX03, according to the filing. The filing noted that the security ratings "are not a recommendation to buy, sell or hold the securities offered hereby and may be subject to revision or withdrawal at any time."

What Was Disclosed

Hyatt Hotels Corporation disclosed the full pricing terms of a $400,000,000 senior notes offering due 2033, including the interest rate of 5.950%, a public offering price of 99.688% of principal, a reoffer yield of 6.005%, and a November 12, 2026 settlement date.