Commentary & Deal Flow

IPTs: L4yr: MS+135a 8yr: MS+175a

• Issuer: Fiserv, Inc. (Ticker: FISV, Country: US)
• Issuer LEI: GI7UBEJLXYLGR2C7GV83
• Issuer Ratings: Baa2 (stable) / BBB (negative) (Moody's / S&P)
• Expected Ratings: Baa2 / BBB (Moody's / S&P)
• Security: Senior Unsecured
• Format: SEC Registered
• Settlement: 23-Jun-26
• Tenor:
• • L4yr: EUR Long 4-year
  • 8yr: EUR 8-year
• Coupon Type:
• • L4yr: FXD
  • 8yr: FXD
• Size:
• • L4yr: €500m WNG
  • 8yr: €500m WNG
• IPTs:
• • L4yr: MS+135 bp area
  • 8yr: MS+175 bp area
• Maturity:
• • L4yr: 15-Oct-30
  • 8yr: 23-Jun-34
• Coupon Frequency:
• • L4yr: Annual; Short First
  • 8yr: Annual
• Day Count:
• • L4yr: Act/Act (ICMA)
  • 8yr: Act/Act (ICMA)
• Optional Redemption:
• • L4yr: 1-month par call; make whole call
  • 8yr: 2-month par call; make whole call
• B&D:
• • L4yr: J.P. Morgan
  • 8yr: Citigroup
• Docs: Nasdaq / New York Law / CoC (101%) / Tax Call / €100,000 x €1,000
• Selling Restrictions: As per the Issuer's Preliminary Prospectus Supplement
• Sales into Canada: Yes, via exemption
• Use of Proceeds: Together with proceeds from the sale of commercial paper and cash from operations, to purchase any and all of the $750.0 million aggregate principal amount of 5.150% Senior Notes and any and all of the $2.0 billion aggregate principal amount of 4.400% Senior Notes, including any premium and accrued and unpaid interest on the tendered notes, pursuant to the tender offer.
• Target Market/PRIIPs: Manufacturer target market (MiFID II and U.K. MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs or UK PRIIPs key information document (KID) has been prepared as not available to retail in EEA and the United Kingdom
• Clearing: Euroclear / Clearstream
• Active Books: Citigroup / J.P. Morgan / TD Securities / Wells Fargo Securities
• Stabilization: Relevant stabilization regulations including ICMA/FCA apply
• ISIN/Common Code:
• • L4yr: XS3410940897 / 341094089
  • 8yr: XS3410941192 / 341094119
• Timing: Books open, today's business
• Marketing: Direct Link: www.netroadshow.com/nrs/home/#!/?show=7111dfd0 URL: www.netroadshow.com Password: fsrv2026