CVS 5.400% 01Jun2029 Corp (USD)

Bond Factsheet

CVS Health Corp

Indicative

Full Lot

Bid Price

99.850

Change in Bid Price

0.262

Bid Yield (%)

5.458 %

Change in Bid Yield

remove 0.108

Ask Price

100.121

Change in Ask Price

0.275

Ask Yield (%)

5.347 %

Change in Ask Yield

remove 0.113

Indicative price as of 02 Oct 2026, 4:33pm

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Bond Information

CVS Health Corporation provides health care and retail pharmacy services. The Company offers prescription medications, beauty, personal care, cosmetics, and health care products, as well as pharmacy benefit management (PBM), disease management, and administrative services. CVS Health operates in the United States and Puerto Rico.

Bond Issuer

CVS Health Corp

Guarantor

Announcement Date

07 May 2024

Issue Date

09 May 2024

Maturity Date

01 Jun 2029

Years to Maturity / Next Call

2.658 / 2.573

Modified Duration

2.398 @ 02 Oct 2026

Issue / Reoffer Price

99.903

Issue / Reoffer Yield

5.421

Coupon Type

Fixed

Annual Coupon Rate

5.400

Coupon Frequency

Semi Annually

Seniority

Senior Unsecured

Reference Rate

ISIN

US126650EB25

CUSIP

126650EB2

Bond Currency

USD

Total Issue Size

1,000,000,000

Min. Investment Quantity (Nominal)

USD 2,000

Incremental Quantity (Nominal)

USD 1,000

Bond Type

Corporate

Bond Sector

Health Care

Bond Sub Sector

Health Care Providers and Services

Issuer Credit Rating (S&P/ Fitch)

***/ BBB

Bond Credit Rating (S&P/ Fitch)

***/ BBB

Shariah Compliant

Exchange Listed

Others

Bond Feature(s)

Issuer Call

On or after the Applicable Par Call Date, we may redeem the 2029 notes, the 2031 notes, the 2034 notes, the 2044 notes and the 2054 notes, in whole or in part, at any time and from time to time, at a redemption price equal to 100% of the principal amount of the notes being redeemed plus accrued and unpaid interest thereon to, but excluding, the redemption date.

“Applicable Par Call Date” means with respect to the 2029 notes, May 1, 2029 (one month prior to the maturity date of such notes)

Make Whole Call

Prior to the Applicable Par Call Date, we may redeem the 2029 notes, 2031 notes, 2034 notes, 2044 notes and 2054 notes at our option, in whole or in part, at any time and from time to time, at a redemption price (expressed as a percentage of principal amount and rounded to three decimal places) equal to the greater of:

(1) (a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the redemption date (assuming such notes matured on the Applicable Par Call Date) on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus the Applicable Spread for such notes less (b) interest accrued to, but excluding, the redemption date, and

(2) 100% of the principal amount of the notes to be redeemed, plus, in either case, accrued and unpaid interest thereon to, but excluding, the redemption date.

“Applicable Par Call Date” means with respect to the 2029 notes, May 1, 2029 (one month prior to the maturity date of such notes)

“Applicable Spread” means with respect to the 2029 notes, 15 basis points

Change Control Put

Upon certain change of control events, the Issuer will be required to make an offer to purchase the Notes in cash at a price equal to 101% of their aggregate principal amount.

“Change of Control” means the occurrence of any of the following: (1) any event requiring the filing of any report under or in response to Schedule 13D or 14D-1 pursuant to the Exchange Act disclosing beneficial ownership of either 50% or more of our common stock then outstanding or 50% or more of our voting power or our voting stock then outstanding; (2) the direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of our properties or our assets and the assets of our respective subsidiaries taken as a whole to one or more persons (as defined in the indenture) other than us or one of our subsidiaries; or (3) the first day on which a majority of the members of our Board of Directors are not Continuing Directors. Notwithstanding the foregoing, a transaction will not be deemed to involve a Change of Control if (1) we become a direct or indirect wholly-owned subsidiary of a holding company and (2)(A) the direct or indirect holders of the voting stock of such holding company immediately following that transaction are substantially the same as the holders of our voting stock immediately prior to that transaction or (B) immediately following that transaction no person (other than a holding company satisfying the requirements of this sentence) is the beneficial owner, directly or indirectly, of more than 50% of the voting stock of such holding company.

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Coupon Dates	Coupon Receive	Principal Amount	Cash Flow

No Data