KSS 5.125% 01May2031 Corp (USD)

Bond Factsheet

Marketplace

Kohl's Corporation

Full Lot

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Odd Lot

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Bond Information

Kohl's Corporation operates as an omnichannel retailer. The Company's stores and website sells private and national brand apparel, footwear, accessories, beauty, and home products, as well as offers online shopping and store credit cards. Kohl's serves customers in the United States.

Bond Issuer

Kohl's Corporation

Guarantor

Announcement Date

29 Mar 2021

Issue Date

31 Mar 2021

Maturity Date

01 May 2031

Years to Maturity / Next Call

4.546 / 4.302

Modified Duration

3.844 @ 14 Oct 2026

Issue / Reoffer Price

99.802

Issue / Reoffer Yield

3.398

Coupon Type

Fixed

Annual Coupon Rate

5.125

Coupon Frequency

Semi Annually

Seniority

Senior Unsecured

Reference Rate

ISIN

US500255AX28

CUSIP

500255AX2

Bond Currency

USD

Total Issue Size

500,000,000

Outstanding Issue Size

319,706,000

Min. Investment Quantity (Nominal)

USD 2,000

Incremental Quantity (Nominal)

USD 1,000

Bond Type

High Yield Corporate

Bond Sector

Consumer Discretionary

Bond Sub Sector

Diversified Consumer Services

Issuer Credit Rating (S&P/ Fitch)

***/ BB-

Bond Credit Rating (S&P/ Fitch)

***/ BB-

Shariah Compliant

Exchange Listed

Others

Bond Feature(s)

Issuer Call

In addition, we may redeem the notes at our option, in whole or in part, at any time on or after the Par Call Date)at a redemption price equal to 100% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest thereon to the date of redemption.

Par Call Date: February 1, 2031

Coupon Step

The interest rate payable on the notes will be subject to adjustment from time to time if either Moody’s or S&P(or, in either case, a Substitute Rating Agency (as defined below)) downgrades (or subsequently upgrades) its rating assigned to the notes, as set forth below. Each of Moody’s, S&P and any Substitute Rating Agency is an “Interest Rate Rating Agency,” and together they are “Interest Rate Rating Agencies.”

If the rating of the notes from one or both of Moody’s or S&P (or, if applicable, any Substitute Rating Agency) is decreased to a rating set forth in either of the immediately following tables, the interest rate on the notes will increase from the interest rate set forth on the cover page of this prospectus supplement by an amount equal to the sum of the percentages per annum set forth in the following tables opposite those ratings:

Moody’s Rating*	Percentage
Ba1	0.25%
Ba2	0.50%
Ba3	0.75%
B1 or below	1.00%

S&P Rating*	Percentage
BB+	0.25%
BB	0.50%
BB-	0.75%
B+ or below	1.00%

Please refer to Prospectus Supplement dated March 29, 2021 page S-16 for more information.

Make Whole Call

The notes will be redeemable at our option, in whole or in part, at any time prior to February 1, 2031 (three months prior to the maturity date of the notes) (the “Par Call Date”) at a redemption price equal to the greater of:

(i) 100% of the principal amount of the notes to be redeemed; and

(ii) the sum of the present values of the remaining scheduled payments of principal and interest there on that would be due if such notes matured on the Par Call Date (not including any portion of such payments of interest accrued as of the date of redemption), discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate(as defined below), plus 25 basis points,

plus, in each case, accrued and unpaid interest thereon to the date of redemption.

Change Control Put

If a Change of Control Repurchase Event (as defined below) occurs in respect of the notes, unless we have exercised our right to redeem the notes as described above, we will make an offer to each holder of notes to repurchase all or any part (in integral multiples of $1,000) of that holder’s notes at a repurchase price in cash equal to 101% of the aggregate principal amount of notes repurchased plus any accrued and unpaid interest on the notes repurchased to the date of purchase.

“Change of Control Repurchase Event” means the occurrence of both a Change of Control and a Below Investment Grade Rating Event.

“Change of Control” means the occurrence of any of the following:

(1) 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 assets and those of our subsidiaries taken as a whole to any “person” or “group” (as that term is used in Section 13(d)(3) of the Exchange Act), other than us or one of our subsidiaries;

(2) the adoption of a plan relating to our liquidation or dissolution;

(3) the first day on which a majority of the members of our Board of Directors are not Continuing Directors; or

(4) the consummation of any transaction or series of related transactions (including, without limitation, any merger or consolidation) the result of which is that any “person” or “group” (as that term is used in Section 13(d)(3) of the Exchange Act), other than us or one of our wholly-owned subsidiaries, becomes the beneficial owner,directly or indirectly, of more than 50% of the then outstanding number of shares of our Voting Stock, measured by voting power rather than number of shares.

Additional Note

“Below Investment Grade Rating Event” means the rating on the notes is lowered by each of the Rating Agencies and such notes are rated below Investment Grade by each of the Rating Agencies on any date from the date of the public notice of an arrangement that could result in a Change of Control until the end of the 60-day period following public notice of the occurrence of a Change of Control (which period shall be extended so long as the rating of such notes is under publicly announced consideration for possible downgrade by any of the Rating Agencies); provided that a Below Investment Grade Rating Event otherwise arising by virtue of a particular reduction in rating shall not be deemed to have occurred in respect of a particular Change of Control (and thus shall not be deemed a Below Investment Grade Rating Event for purposes of the definition of Change of Control Repurchase Event hereunder) if any of the Rating Agencies making the reduction in rating to which this definition would otherwise apply does not announce or publicly confirm or inform the trustee in writing at its request that the reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the applicable Change of Control (whether or not the applicable Change of Control shall have occurred at the time of the Below Investment Grade Rating Event).

Bondsupermart strives to ensure the accuracy and relevance of the information provided here. If the information is not up-to-date or erroneous, we appreciate feedback to keep it accurate.

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