Hess Corp. - 2016-02-04

Concurrent with common share offering, priced public offering of 10 million depositary shares at $50 each. Each represents a one-twentieth interest in a share of Series A convertible preferred stock. Each Series A share will automatically convert into a variable number of shares on Feb. 1, 2019. Underwriters will have a monthlong option to purchase about 1.5 million additional depositary shares. Net proceeds will strengthen the balance sheet and support general corporate purposes including long-term capital and the cost of capped-call transactions. Goldman Sachs & Co., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are book-running managers.