BOND COMPLEXITY : MODERATEISIN: US189754AC88
TPR 4.125% 15Jul2027 Corp (USD)
TAPESTRY, INC.
Indicative Bid Price
99.704
Bid Yield to Maturity
4.431%
Bid Yield to Call
4.593%
Min. Investment (Nominal)
2000
Indicative Ask Price
99.914
Ask Yield to Maturity
4.214%
Ask Yield to Call
4.256%
Next Call Date
14 Apr 2027
Credit Rating (Bond)
No Rating
Seniority
Investor Profile
Stable Income Seeker
Chart
Created with Highcharts 9.3.2Chart context menuBid Yield to CallAsk Yield to CallBid Yield to MaturityAsk Yield to Maturity22. Jul24. Jul26. Jul28. Jul30. Jul1. Aug3. Aug5. Aug7. Aug9. Aug11. Aug13. Aug15. Aug17. Aug19. Aug44.24.44.64.85FSM Global
Bond Information
Tapestry, Inc. designs and markets clothes and accessories. The Company offers handbags, leather goods, footwear, fragrance, jewelry, outer wear, ready-to-wear, scarves, sunwear, travel accessories, and watches. Tapestry serves customers in the United States.
Bond Issuer
Tapestry, Inc.
Guarantor
-
Announcement Date
05 Jun 2017
Issue Date
19 Jun 2017
Maturity Date / Next Call Date
14 Jul 2027 / 14 Apr 2027
Years to Maturity / Next Call
0.892 / 0.643
Issue/Reoffer Price
99.858
Issue/Reoffer Yield
4.142
Coupon Type
Fixed
Annual Coupon Rate (%)
4.125
Annual Coupon Frequency
Semi Annually
Seniority
Senior Unsecured
Exchange Listed
Others
Reference Rate
-
ISIN
US189754AC88
CUSIP
189754AC8
Bond Currency
USD
Total Issue Size
USD 396,610,000
Minimum Investment Quantity (Nominal)
USD 2,000
Incremental Quantity (Nominal)
USD 1,000
Bond Registration
Wholesale
Bond Type
Corporate
Bond Sector
Consumer Discretionary
Bond Sub Sector
Textiles, Apparel and Luxury Goods
Issuer Credit Rating (S&P/ Fitch)
***/W.R
Bond Credit Rating (S&P/ Fitch)
***/W.R
Shariah Compliant
No
W-8BEN Declaration needed 
Yes
Bond Feature(s)
If the rating assigned by Moody's / S&P (or any substitute rating agency therefor) of a series of the Notes is decreased to a rating set forth in the immediately following table, the interest rate on such series of the Notes will increase such that it will equal the interest rate payable on such series of the Notes on the date of their initial issuance plus the percentage set forth opposite the rating in the table below (plus, if applicable, the percentage set forth opposite the rating in the table under " - Moody's / S&P Rating Percentage"):

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%
Upon the occurrence of a Change of Control Triggering Event (as defined below) with respect to the Notes of a series, unless we have exercised our right to redeem the Notes of such series as described above under "—Optional Redemption" or we have redeemed, or we are required to redeem, the Notes of such series pursuant to a special mandatory redemption as, as described above under "—Special Mandatory Redemption," the indenture provides that each holder of Notes of such series will have the right to require us to repurchase all or a portion (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of such holder's Notes pursuant to the offer described below (the "Change of Control Offer"), at a purchase price equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to the date of repurchase (the "Change of Control Payment"), subject to the rights of holders of the Notes on the relevant record date to receive interest due on the relevant interest payment date.

"Change of Control" means the occurrence of any one of the following:

(1) the direct or indirect sale, lease, 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 assets and the assets of our subsidiaries taken as a whole to any person other than to our company or one of our subsidiaries;

(2) the consummation of any transaction (including without limitation, any merger or consolidation) the result of which is that any "person" (other than our company or one of our subsidiaries) becomes the "beneficial owner" (as such terms are defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of more than 50% of our outstanding Voting Stock or the Voting Stock of any parent company (as defined below) or other Voting Stock into which our Voting Stock or the Voting Stock of any parent company is reclassified, consolidated, exchanged or changed, measured by voting power rather than number of shares;

(3) we or any parent company consolidates with, or merges with or into, any person, or any person consolidates with, or merges with or into, us or any parent company, in any such event pursuant to a transaction in which any of our outstanding Voting Stock, the Voting Stock of such parent company or the Voting Stock of such other person is converted into or exchanged for cash, securities or other property, other than any such transaction where the shares of our Voting Stock or the Voting Stock of such parent company outstanding immediately prior to such transaction constitute, or are converted into or exchanged for, a majority of the Voting Stock of the surviving person or any direct or indirect parent company of the surviving person immediately after giving effect to such transaction;

(4) the first day on which the majority of the members of our board of directors or the board of directors of any parent company cease to be Continuing Directors; or

(5) the adoption of a plan relating to our liquidation or dissolution.

"Change of Control Triggering Event" means, with respect to a series of Notes, the occurrence of both a Change of Control and a related Rating Event with respect to such series of Notes.
Prior to the Applicable Par Call Date, we may redeem the Notes of the relevant series in whole or in part, at our option at any time or from time to time, at a redemption price equal to the greater of (1) 100% of the principal amount of the Notes of such series to be redeemed or (2) as determined by a Quotation Agent, the sum of the present values of the remaining scheduled payments of principal and interest thereon that would have been payable in respect of such Notes calculated as if the maturity date of such Notes was the Applicable Par Call Date (not including any portion of payments of interest accrued to the date of redemption), discounted to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury Rate plus, in the case of each of (1) and (2), accrued and unpaid interest to the redemption date.

"Adjusted Treasury Rate" means, with respect to any redemption date, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such redemption date plus 30 basis points with respect to the 2027 Notes.
On and after the Applicable Par Call Date, we may redeem the Notes of each series in whole or in part, at our option at any time or from time to time, at a redemption price equal to 100% of the principal amount of the Notes of such series to be redeemed, plus accrued and unpaid interest to the redemption date.
Price History
(Daily prices for the last 3 months), if you wish to view more than 3 months price history you may export the file
DATE
BID PRICE
ASK PRICE
ASK YIELD (CALL)
ASK YIELD (MATURITY)
20 Aug 202699.70499.9144.2564.214
19 Aug 202699.76299.9854.1424.140
18 Aug 202699.68499.8984.2794.230
17 Aug 202699.60399.8204.4004.311
16 Aug 202699.63299.8564.3434.274
13 Aug 202699.69599.8574.3404.273
12 Aug 202699.62099.8544.3444.276
11 Aug 202699.48399.7674.4744.366
10 Aug 202699.51999.7814.4514.351
09 Aug 202699.53799.7694.4684.364
Total of 67 entries
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FSM Global 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.
Credit Rating

There are no credit rating changes for this bond for the past 3 years.

Related Documents
pdfIcon
Prospectus Supplement
Coach, Inc. $600,000,000 4.125% Senior Notes due 2027. Prospectus Supplement (to Prospectus dated December 1, 2014) dated June 6, 2017.
pdfIcon
Pricing Supplement
Coach, Inc. $600,000,000 4.125% Senior Notes due 2027. Pricing Term Sheet dated June 6, 2017.
Related Bonds
BOND NAME

ISSUER

MATURITY DATE / NEXT CALL DATE
ASK PRICE
ASK YTM / YTW
BOND CREDIT RATING (S&P/FITCH)
action
TPR 5.500% 11Mar2035 Corp (USD)

Tapestry, Inc.

10 Dec 2034
(Next Call Date)
98.899 5.664% p.a. ***/N.R
TPR 3.050% 15Mar2032 Corp (USD)

Tapestry, Inc.

14 Dec 2031
(Next Call Date)
90.187 5.100% p.a. ***/N.R
Total of 2 entries
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FSM's Fees
For more information, please refer to the Pricing Structure
For each Buy & Sell Order (Retail^, Wholesale, Bond Express)
Processing Fee
0.35% / Min. SGD 10*
Platform Fee
0.05% per quarter
Other Charges
Goods & Services Tax (GST)
9% (GST is applicable to Singaporean residents on FSM’s fee)
Order Processing Time
Buy Wholesale Bonds / SGS Bonds / Retail (All payment type)
Generally T+2 business days upon payment clearance
Sell Wholesale Bonds / SGS Bonds / Retail Bonds
Generally T+2 business days (Redemption proceeds will be credited on next day)
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Remark

  1. *Processing fee is subjected to a minimum of SGD 10 (or in its equivalent currency).
  2. ^ For the purchase of the Retail Bonds, FSM Global will be absorbing SGX related Charges, till further notice.
  3. T = Transaction Date
    The Order processing time refers to the order completion and reflected in your account.
    ^The Purchase date will be based on T date

Platform Charge
  1. For the purpose of benefiting from lower rates based on higher investment holding tiers, the effective platform fee rate is based on the total combined holdings of all FSM accounts under main account holder (including beneficiary accounts), while Stock / ETF / Cash Account holdings are excluded from the combined holdings amount.
  2. Platform fee is charged for funds / bonds investments (excluding CPF holdings). The fee is accrued daily, calculated based on the daily average market value of the total Assets Under Administration (AUA) and deducted on a quarterly basis.

Note
  1. All fees and commission quoted are exclusive of Goods and Services Tax (GST).
  2. Platform fee is charged for funds / bonds investments (excluding CPF holdings). The fee is accrued daily, calculated based on the daily average market value of the total Assets Under Administration (AUA) and deducted on a quarterly basis.

Potential Income Explained
Est. Payable Amount
USD 2,017.63
Years to Call
7+ months
Est. Total Income
USD 61.88
Yield to Call
3.337%
Indicative Cash Flow
Nominal Value
USD 2,000.00
  • 2027
    Apr
    Coupon
    USD 20.63
    Early Redemption
    USD 2,000.00
  • Jan
    Coupon
    USD 41.25
Disclaimer: Cash flow calculations are computed based on current coupon rate till next possible call or maturity date. Figures reflected are indicative and subjected to changes in case of any corporate actions.
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