Pricing Term Sheet
Filed under Rule 433
Registration No. 333-163220
September 13, 2010
Comerica Incorporated
Summary of Terms for Issuance
| Issuer: | Comerica Incorporated | |
| Ranking: | Senior Notes | |
| Ratings:* | A2/A-/A | |
| Principal Amount: | $300,000,000 | |
| Minimum Denominations: | $2,000 | |
| Minimum Increments: | $1,000 | |
| Pricing Date: | September 13, 2010 | |
| Settlement Date: | September 16, 2010 | |
| Maturity Date: | September 16, 2015 | |
| Interest Payment Dates: | September 16 and March 16 of each year, beginning March 16, 2011 | |
| Reference Benchmark: | 1.250% due August 31, 2015 | |
| Benchmark Yield: | 1.527% | |
| Spread to Benchmark: | 150 bps | |
| Reoffer Yield: | 3.027% | |
| Coupon: | 3.000% | |
| Price to Investors (%): | 99.876% | |
| CUSIP: | 200340AN7 | |
| ISIN: | US200340AN73 | |
| Book-Running Managers : | Banc of America Securities LLC and J.P. Morgan Securities LLC | |
| Co-Managers:
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Barclays Capital Inc. / Comerica Securities, Inc. / Sandler O’Neill + Partners, L.P.
| |
*Note: A securities rating 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 Web site at www.sec.gov. Alternatively, Banc of America Securities LLC or J.P. Morgan Securities LLC can arrange to send you the prospectus if you request it by calling Banc of America Securities LLC toll-free at 1-800-294-1322 or calling J.P. Morgan Securities LLC collect at 1-212-834-4533.