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<title>hlt-20210202</title></head><body><div style="display:none"><ix:header><ix:hidden><ix:nonNumeric contextRef="i9021ca2d08e348c3a47105218d1ac914_D20210202-20210202" format="ixt:booleanfalse" name="dei:AmendmentFlag" id="id3VybDovL2RvY3MudjEvZG9jOmFkM2IyNzEwZjJhNTRhYmM5ODlkM2E3ZTIyYjdiODE2L3NlYzphZDNiMjcxMGYyYTU0YWJjOTg5ZDNhN2UyMmI3YjgxNl80L2ZyYWc6MjYzN2IxMjk3OWRjNDQ3NDk4NjBiMzA4NWNjM2U3OWEvdGFibGU6YzQxY2I0NDBmY2NlNDBhNGExOGQzOWE3OTIzM2FlMWQvdGFibGVyYW5nZTpjNDFjYjQ0MGZjY2U0MGE0YTE4ZDM5YTc5MjMzYWUxZF8xLTEtMS0xLTA_5cc48f52-78a1-4aed-8713-6300ab11d905">False</ix:nonNumeric><ix:nonNumeric contextRef="i9021ca2d08e348c3a47105218d1ac914_D20210202-20210202" name="dei:EntityCentralIndexKey" 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style="-sec-extract:summary;margin-top:4pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:16pt;font-weight:700;line-height:120%">UNITED STATES</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:16pt;font-weight:700;line-height:120%">SECURITIES AND EXCHANGE COMMISSION </span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">WASHINGTON, D.C. 20549</span></div><div style="margin-bottom:6pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:36.549%"><tr><td style="width:1.0%"></td><td style="width:52.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:44.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:18pt;font-weight:700;line-height:100%">FORM</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:18pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="i9021ca2d08e348c3a47105218d1ac914_D20210202-20210202" name="dei:DocumentType" id="id3VybDovL2RvY3MudjEvZG9jOmFkM2IyNzEwZjJhNTRhYmM5ODlkM2E3ZTIyYjdiODE2L3NlYzphZDNiMjcxMGYyYTU0YWJjOTg5ZDNhN2UyMmI3YjgxNl8xL2ZyYWc6YjllNWI0OTAwN2UxNDZkMTkxM2RmY2M2NjMzNWIwZDgvdGFibGU6YTgzZDRhZTJhZTE3NGY4ZmI5NGQ5NDE5NjFlNDQ1MTEvdGFibGVyYW5nZTphODNkNGFlMmFlMTc0ZjhmYjk0ZDk0MTk2MWU0NDUxMV8wLTEtMS0xLTA_2c0d28c6-31bd-4f88-af0c-54484fc1b261">8-K</ix:nonNumeric></span></td></tr></table></div><div style="margin-bottom:6pt;text-align:center"><span><br/></span></div><div style="margin-bottom:6pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:39.619%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">CURRENT REPORT </span></td></tr></table></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Pursuant to Section 13 or 15(d) </span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%">of the Securities Exchange Act of 1934 </span></div><div style="margin-top:12pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Date of Report (Date of Earliest Event Reported): <ix:nonNumeric contextRef="i9021ca2d08e348c3a47105218d1ac914_D20210202-20210202" format="ixt:datemonthdayyearen" name="dei:DocumentPeriodEndDate" id="id3VybDovL2RvY3MudjEvZG9jOmFkM2IyNzEwZjJhNTRhYmM5ODlkM2E3ZTIyYjdiODE2L3NlYzphZDNiMjcxMGYyYTU0YWJjOTg5ZDNhN2UyMmI3YjgxNl8xL2ZyYWc6YjllNWI0OTAwN2UxNDZkMTkxM2RmY2M2NjMzNWIwZDgvdGV4dHJlZ2lvbjpiOWU1YjQ5MDA3ZTE0NmQxOTEzZGZjYzY2MzM1YjBkOF8yMDY_fafc9cd6-4766-42a5-998a-db6859ca61e2">February 2, 2021</ix:nonNumeric> </span></div><div style="margin-bottom:6pt;margin-top:9pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:39.619%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:24pt;font-weight:700;line-height:120%"><ix:nonNumeric contextRef="i9021ca2d08e348c3a47105218d1ac914_D20210202-20210202" name="dei:EntityRegistrantName" id="id3VybDovL2RvY3MudjEvZG9jOmFkM2IyNzEwZjJhNTRhYmM5ODlkM2E3ZTIyYjdiODE2L3NlYzphZDNiMjcxMGYyYTU0YWJjOTg5ZDNhN2UyMmI3YjgxNl8xL2ZyYWc6YjllNWI0OTAwN2UxNDZkMTkxM2RmY2M2NjMzNWIwZDgvdGV4dHJlZ2lvbjpiOWU1YjQ5MDA3ZTE0NmQxOTEzZGZjYzY2MzM1YjBkOF8yMTI_2540339f-c55d-4f30-9f55-588bc7f83854">Hilton Worldwide Holdings Inc.</ix:nonNumeric> </span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(Exact Name of Registrant as Specified in its Charter) </span></div><div style="margin-bottom:6pt;margin-top:9pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:39.619%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><span><br/></span></div><div style="margin-bottom:6pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:31.648%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:31.648%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:31.651%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="i9021ca2d08e348c3a47105218d1ac914_D20210202-20210202" format="ixt-sec:stateprovnameen" name="dei:EntityIncorporationStateCountryCode" id="id3VybDovL2RvY3MudjEvZG9jOmFkM2IyNzEwZjJhNTRhYmM5ODlkM2E3ZTIyYjdiODE2L3NlYzphZDNiMjcxMGYyYTU0YWJjOTg5ZDNhN2UyMmI3YjgxNl8xL2ZyYWc6YjllNWI0OTAwN2UxNDZkMTkxM2RmY2M2NjMzNWIwZDgvdGFibGU6NTkwNDIyMDFjMDM1NGI3Mzg0M2ZlNDIwNWU3ZTllMjUvdGFibGVyYW5nZTo1OTA0MjIwMWMwMzU0YjczODQzZmU0MjA1ZTdlOWUyNV8wLTAtMS0xLTA_0c2b414f-5edd-48b4-918d-1a73dad01d50">Delaware</ix:nonNumeric></span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="i9021ca2d08e348c3a47105218d1ac914_D20210202-20210202" name="dei:EntityFileNumber" id="id3VybDovL2RvY3MudjEvZG9jOmFkM2IyNzEwZjJhNTRhYmM5ODlkM2E3ZTIyYjdiODE2L3NlYzphZDNiMjcxMGYyYTU0YWJjOTg5ZDNhN2UyMmI3YjgxNl8xL2ZyYWc6YjllNWI0OTAwN2UxNDZkMTkxM2RmY2M2NjMzNWIwZDgvdGFibGU6NTkwNDIyMDFjMDM1NGI3Mzg0M2ZlNDIwNWU3ZTllMjUvdGFibGVyYW5nZTo1OTA0MjIwMWMwMzU0YjczODQzZmU0MjA1ZTdlOWUyNV8wLTItMS0xLTA_02e20cff-f3d3-4b97-8e1f-d1d45e299df4">001-36243</ix:nonNumeric></span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="i9021ca2d08e348c3a47105218d1ac914_D20210202-20210202" name="dei:EntityTaxIdentificationNumber" id="id3VybDovL2RvY3MudjEvZG9jOmFkM2IyNzEwZjJhNTRhYmM5ODlkM2E3ZTIyYjdiODE2L3NlYzphZDNiMjcxMGYyYTU0YWJjOTg5ZDNhN2UyMmI3YjgxNl8xL2ZyYWc6YjllNWI0OTAwN2UxNDZkMTkxM2RmY2M2NjMzNWIwZDgvdGFibGU6NTkwNDIyMDFjMDM1NGI3Mzg0M2ZlNDIwNWU3ZTllMjUvdGFibGVyYW5nZTo1OTA0MjIwMWMwMzU0YjczODQzZmU0MjA1ZTdlOWUyNV8wLTQtMS0xLTA_3a136c0f-dabd-429a-bd1f-b73adaf71179">27-4384691</ix:nonNumeric></span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(State or Other Jurisdiction<br/>of Incorporation)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(Commission<br/>File Number)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(IRS Employer<br/>Identification No.)</span></td></tr></table></div><div style="margin-top:12pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%"><ix:nonNumeric contextRef="i9021ca2d08e348c3a47105218d1ac914_D20210202-20210202" name="dei:EntityAddressAddressLine1" id="id3VybDovL2RvY3MudjEvZG9jOmFkM2IyNzEwZjJhNTRhYmM5ODlkM2E3ZTIyYjdiODE2L3NlYzphZDNiMjcxMGYyYTU0YWJjOTg5ZDNhN2UyMmI3YjgxNl8xL2ZyYWc6YjllNWI0OTAwN2UxNDZkMTkxM2RmY2M2NjMzNWIwZDgvdGV4dHJlZ2lvbjpiOWU1YjQ5MDA3ZTE0NmQxOTEzZGZjYzY2MzM1YjBkOF8yNzc_d502e4a6-8c18-42a2-a051-cca98b5a95a4">7930 Jones Branch Drive</ix:nonNumeric>, <ix:nonNumeric contextRef="i9021ca2d08e348c3a47105218d1ac914_D20210202-20210202" name="dei:EntityAddressAddressLine2" id="id3VybDovL2RvY3MudjEvZG9jOmFkM2IyNzEwZjJhNTRhYmM5ODlkM2E3ZTIyYjdiODE2L3NlYzphZDNiMjcxMGYyYTU0YWJjOTg5ZDNhN2UyMmI3YjgxNl8xL2ZyYWc6YjllNWI0OTAwN2UxNDZkMTkxM2RmY2M2NjMzNWIwZDgvdGV4dHJlZ2lvbjpiOWU1YjQ5MDA3ZTE0NmQxOTEzZGZjYzY2MzM1YjBkOF8yODE_09afc72f-a48b-4891-8501-4f976a3a573a">Suite 1100</ix:nonNumeric>, <ix:nonNumeric contextRef="i9021ca2d08e348c3a47105218d1ac914_D20210202-20210202" name="dei:EntityAddressCityOrTown" id="id3VybDovL2RvY3MudjEvZG9jOmFkM2IyNzEwZjJhNTRhYmM5ODlkM2E3ZTIyYjdiODE2L3NlYzphZDNiMjcxMGYyYTU0YWJjOTg5ZDNhN2UyMmI3YjgxNl8xL2ZyYWc6YjllNWI0OTAwN2UxNDZkMTkxM2RmY2M2NjMzNWIwZDgvdGV4dHJlZ2lvbjpiOWU1YjQ5MDA3ZTE0NmQxOTEzZGZjYzY2MzM1YjBkOF8yODU_df580e2b-3141-4e6e-b0a1-caded8ab6374">McLean</ix:nonNumeric>, <ix:nonNumeric contextRef="i9021ca2d08e348c3a47105218d1ac914_D20210202-20210202" format="ixt-sec:stateprovnameen" name="dei:EntityAddressStateOrProvince" id="id3VybDovL2RvY3MudjEvZG9jOmFkM2IyNzEwZjJhNTRhYmM5ODlkM2E3ZTIyYjdiODE2L3NlYzphZDNiMjcxMGYyYTU0YWJjOTg5ZDNhN2UyMmI3YjgxNl8xL2ZyYWc6YjllNWI0OTAwN2UxNDZkMTkxM2RmY2M2NjMzNWIwZDgvdGV4dHJlZ2lvbjpiOWU1YjQ5MDA3ZTE0NmQxOTEzZGZjYzY2MzM1YjBkOF8yODk_0b265814-d7c7-401a-8e91-dd05c1310686">Virginia</ix:nonNumeric> <ix:nonNumeric contextRef="i9021ca2d08e348c3a47105218d1ac914_D20210202-20210202" name="dei:EntityAddressPostalZipCode" id="id3VybDovL2RvY3MudjEvZG9jOmFkM2IyNzEwZjJhNTRhYmM5ODlkM2E3ZTIyYjdiODE2L3NlYzphZDNiMjcxMGYyYTU0YWJjOTg5ZDNhN2UyMmI3YjgxNl8xL2ZyYWc6YjllNWI0OTAwN2UxNDZkMTkxM2RmY2M2NjMzNWIwZDgvdGV4dHJlZ2lvbjpiOWU1YjQ5MDA3ZTE0NmQxOTEzZGZjYzY2MzM1YjBkOF8yOTI_e6f46850-c4b7-4870-9488-ad7879919ca6">22102</ix:nonNumeric> </span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(Address of Principal Executive Offices) (Zip Code) </span></div><div style="margin-top:12pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(<ix:nonNumeric contextRef="i9021ca2d08e348c3a47105218d1ac914_D20210202-20210202" name="dei:CityAreaCode" id="id3VybDovL2RvY3MudjEvZG9jOmFkM2IyNzEwZjJhNTRhYmM5ODlkM2E3ZTIyYjdiODE2L3NlYzphZDNiMjcxMGYyYTU0YWJjOTg5ZDNhN2UyMmI3YjgxNl8xL2ZyYWc6YjllNWI0OTAwN2UxNDZkMTkxM2RmY2M2NjMzNWIwZDgvdGV4dHJlZ2lvbjpiOWU1YjQ5MDA3ZTE0NmQxOTEzZGZjYzY2MzM1YjBkOF8zNTA_ad96eb04-f622-425c-b887-49ddc82a835c">703</ix:nonNumeric>) <ix:nonNumeric contextRef="i9021ca2d08e348c3a47105218d1ac914_D20210202-20210202" name="dei:LocalPhoneNumber" id="id3VybDovL2RvY3MudjEvZG9jOmFkM2IyNzEwZjJhNTRhYmM5ODlkM2E3ZTIyYjdiODE2L3NlYzphZDNiMjcxMGYyYTU0YWJjOTg5ZDNhN2UyMmI3YjgxNl8xL2ZyYWc6YjllNWI0OTAwN2UxNDZkMTkxM2RmY2M2NjMzNWIwZDgvdGV4dHJlZ2lvbjpiOWU1YjQ5MDA3ZTE0NmQxOTEzZGZjYzY2MzM1YjBkOF8zNTQ_4f9720a4-6fa6-49d4-b223-ee19800ea06c">883-1000</ix:nonNumeric> </span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(Registrant&#8217;s Telephone Number, Including Area Code) </span></div><div style="margin-top:12pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Not Applicable </span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(Former Name or Former Address, if Changed Since Last Report) </span></div><div style="margin-bottom:6pt;margin-top:9pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:39.619%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:3pt;margin-top:3pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: </span></div><div style="margin-bottom:3pt;margin-top:3pt"><span style="color:#000000;font-family:'Arial Unicode MS',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:nonNumeric contextRef="i9021ca2d08e348c3a47105218d1ac914_D20210202-20210202" format="ixt-sec:boolballotbox" name="dei:WrittenCommunications" id="id3VybDovL2RvY3MudjEvZG9jOmFkM2IyNzEwZjJhNTRhYmM5ODlkM2E3ZTIyYjdiODE2L3NlYzphZDNiMjcxMGYyYTU0YWJjOTg5ZDNhN2UyMmI3YjgxNl8xL2ZyYWc6YjllNWI0OTAwN2UxNDZkMTkxM2RmY2M2NjMzNWIwZDgvdGV4dHJlZ2lvbjpiOWU1YjQ5MDA3ZTE0NmQxOTEzZGZjYzY2MzM1YjBkOF82NjY_38e40e0d-9829-4a96-869f-51654a0c5d20">&#9744;</ix:nonNumeric></span><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </span></div><div style="margin-bottom:3pt;margin-top:3pt"><span><br/></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Securities registered pursuant to Section 12(b) of the Act:</span></div><div style="margin-bottom:6pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:91.812%"><tr><td style="width:1.0%"></td><td style="width:37.116%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.596%"></td><td style="width:0.1%"></td><td 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Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Name of each exchange on which registered</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="i9021ca2d08e348c3a47105218d1ac914_D20210202-20210202" name="dei:Security12bTitle" id="id3VybDovL2RvY3MudjEvZG9jOmFkM2IyNzEwZjJhNTRhYmM5ODlkM2E3ZTIyYjdiODE2L3NlYzphZDNiMjcxMGYyYTU0YWJjOTg5ZDNhN2UyMmI3YjgxNl8xL2ZyYWc6YjllNWI0OTAwN2UxNDZkMTkxM2RmY2M2NjMzNWIwZDgvdGFibGU6NDUyYjUyNTY4ZDg4NDdlMWI5NzZhY2FiY2Y3YjE3NzEvdGFibGVyYW5nZTo0NTJiNTI1NjhkODg0N2UxYjk3NmFjYWJjZjdiMTc3MV8xLTAtMS0xLTA_85614e79-eb9e-4d0e-b570-d846e03cfb8e">Common Stock, $0.01 par value per share</ix:nonNumeric></span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 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style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Emerging growth company </span><span style="color:#000000;font-family:'Arial Unicode MS',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:nonNumeric contextRef="i9021ca2d08e348c3a47105218d1ac914_D20210202-20210202" format="ixt-sec:boolballotbox" name="dei:EntityEmergingGrowthCompany" id="id3VybDovL2RvY3MudjEvZG9jOmFkM2IyNzEwZjJhNTRhYmM5ODlkM2E3ZTIyYjdiODE2L3NlYzphZDNiMjcxMGYyYTU0YWJjOTg5ZDNhN2UyMmI3YjgxNl8xL2ZyYWc6YjllNWI0OTAwN2UxNDZkMTkxM2RmY2M2NjMzNWIwZDgvdGV4dHJlZ2lvbjpiOWU1YjQ5MDA3ZTE0NmQxOTEzZGZjYzY2MzM1YjBkOF8xMzkw_25851435-a5d3-406a-a11a-788ec251b440">&#9744;</ix:nonNumeric></span><span style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange </span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Act. </span><span style="color:#000000;font-family:'Arial Unicode MS',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#9744;</span></div><div><span><br/></span></div><div><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><span><br/></span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div><span><br/></span></div></div><div style="padding-left:67.5pt;text-indent:-67.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:115%">Item 1.01          Entry into a Material Definitive Agreement.</span></div><div><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:115%">Indenture with respect to 3.625% Senior Notes due 2032</span></div><div style="text-indent:18pt"><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">On February 2, 2021, Hilton Domestic Operating Company Inc. (the &#8220;Issuer&#8221;), an indirect subsidiary of Hilton Worldwide Holdings Inc. (the &#8220;Company&#8221;), issued and sold $1.5 billion aggregate principal amount of 3.625% Senior Notes due 2032 (the &#8220;Notes&#8221;) under an Indenture, dated as of February 2, 2021 (the &#8220;Indenture&#8221;), by and among the Issuer, the Company, as a guarantor, the other guarantors party thereto, and Wilmington Trust, National Association, as trustee (in such capacity, the &#8220;Trustee&#8221;). The Notes were sold only to persons reasonably believed to be qualified institutional buyers in reliance on the exemption from registration provided by Rule 144A under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;), and to non-U.S. persons outside the United States in reliance on Regulation S under the Securities Act. </span></div><div style="text-indent:18pt"><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The Notes were issued at 100% of their par value and bear interest at a rate of 3.625% per annum. Interest on the Notes is payable semi-annually in arrears on February 15 and August 15, beginning August 15, 2021. The Notes mature on February 15, 2032. </span></div><div style="text-indent:18pt"><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The net proceeds of the offering of the Notes, together with available cash, were used to redeem all $1.5 billion in aggregate principal amount of the Issuer&#8217;s outstanding 5.125% Senior Notes due 2026 (the &#8220;2026 Notes&#8221;), and to pay the related redemption premium and all fees and expenses related thereto.</span></div><div style="text-indent:18pt"><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:115%">Ranking; Guarantees </span></div><div style="text-indent:18pt"><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The Notes are the Issuer&#8217;s senior unsecured obligations, ranking equally in right of payment with all of the Issuer&#8217;s existing and future senior indebtedness and senior in right of payment to all of the Issuer&#8217;s existing and future subordinated indebtedness. </span></div><div style="text-indent:18pt"><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The Notes are guaranteed, on a senior unsecured basis, by (i) Hilton Worldwide Parent LLC (&#8220;HWP&#8221;), the Issuer&#8217;s direct parent company, (ii) the Company, the immediate parent company of HWP, and (iii) each of the Issuer&#8217;s existing and future wholly owned subsidiaries to the extent such entities guarantee indebtedness under the Issuer&#8217;s senior secured credit facilities or certain other indebtedness of the Issuer or any subsidiary guarantor. </span></div><div style="text-indent:18pt"><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:115%">Optional Redemption </span></div><div style="text-indent:18pt"><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The Issuer may, at its option, redeem the Notes, in whole or in part, at any time prior to August 15, 2026, at a price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date, plus the applicable &#8220;make-whole premium.&#8221; In addition, beginning on August 15, 2026, the Issuer may redeem all or a part of the Notes at a redemption price equal to 101.813% of the principal amount redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. The redemption price decreases to 101.208%, 100.604% and 100.000% of the principal amount redeemed on August 15, 2027, August 15, 2028 and August 15, 2029, respectively. In addition, at any time on or prior to February 15, 2024, the Issuer may, at its option, redeem up to 40.0% of the aggregate principal amount of the Notes issued under the Indenture with the proceeds of certain equity offerings at a redemption price of 103.625% of the principal amount thereof, plus accrued and unpaid interest.  </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:115%">Repurchase at the Option of Holders </span></div><div style="text-indent:18pt"><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Upon the occurrence of a change of control triggering event or upon the sale of certain assets in which the Issuer and its restricted subsidiaries do not apply the proceeds as required, the holders of the Notes will have the right to require the Issuer to make an offer to repurchase each holder&#8217;s Notes at a price equal to 101% (in the case of a change of control triggering event) or 100% (in the case of an asset sale) of their principal amount, plus accrued and unpaid interest. </span></div><div style="text-indent:18pt"><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:115%">Covenants; Events of Default </span></div><div style="text-indent:18pt"><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The Indenture contains covenants that, among other things, limit the ability of the Issuer and its restricted subsidiaries to incur additional indebtedness or issue certain preferred shares, pay dividends, redeem stock or make other distributions, make certain investments, sell or transfer certain assets, create liens, consolidate, merge, sell or otherwise dispose of all or substantially all of the Issuer&#8217;s assets, enter into certain transactions with affiliates, and designate subsidiaries as unrestricted subsidiaries. These covenants are subject to a number of important exceptions and qualifications. Neither HWP nor the Company is subject to the restrictive covenants of the Indenture. The Notes also contain customary events of default, the occurrence of which could result in the principal of and accrued interest on the Notes to become or be declared due and payable. </span></div><div style="text-indent:18pt"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><span><br/></span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div><span><br/></span></div></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The foregoing description of the Indenture and the Notes does not purport to be complete and is qualified in its entirety by reference to the full text of each of such documents, which are filed as Exhibits 4.1 and 4.2 to this Current Report on Form 8-K and are incorporated herein by reference.</span></div><div><span><br/></span></div><div style="padding-left:72pt;text-indent:-72pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:115%">Item 1.02           Termination of a Material Definitive Agreement.</span></div><div style="text-indent:36pt"><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">On February 4, 2021, the Issuer completed the redemption in full of all of the $1.5 billion aggregate principal amount of issued and outstanding 2026 Notes at a redemption price of 100.000% of the outstanding aggregate principal amount, plus accrued and unpaid interest to, but excluding, the redemption date, plus a make-whole premium in the aggregate amount of approximately $55 million. As a result, the Indenture, dated as of April 13, 2018 (as amended and supplemented, the &#8220;2026 Notes Indenture&#8221;), by and among the Issuer, the Company and other guarantors party thereto, and Wilmington Trust, National Association, as trustee, was satisfied and discharged and the Issuer and guarantors have no further obligations under the 2026 Notes, the related guarantees or the 2026 Notes Indenture.  </span></div><div><span><br/></span></div><div style="padding-left:72pt;text-indent:-72pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:115%">Item 2.03           Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.</span></div><div style="padding-left:72pt;text-indent:-72pt"><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The information set forth under Item 1.01 above is incorporated by reference into this Item 2.03.</span></div><div><span><br/></span></div><div style="padding-left:72pt;text-indent:-72pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:115%">Item 9.01           Financial Statements and Exhibits.</span></div><div style="padding-left:72pt;text-indent:-72pt"><span><br/></span></div><div style="padding-left:72pt;text-indent:-72pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:115%">(d) Exhibits.</span></div><div><span><br/></span></div><div style="margin-bottom:6pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:97.953%"><tr><td style="width:1.0%"></td><td style="width:6.810%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.397%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:90.393%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exhibit No.</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Description</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.1</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline"><a style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline" href="indenture-feb2021.htm">Indenture, dated as of February 2, 2021, by and among Hilton Domestic Operating Company Inc., the guarantors from time to time party thereto and Wilmington Trust, National Association, as trustee. </a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.2</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline"><a style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline" href="indenture-feb2021.htm">Form of 3.625% Senior Note due 2032 (included in Exhibit 4.1).</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">101</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Interactive Data File - XBRL tags are embedded within the Inline XBRL document.</span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">104</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Cover Page Interactive Data File (embedded within the Inline XBRL document).</span></div></td></tr></table></div><div><span><br/></span></div><div style="padding-left:72pt;text-indent:-72pt"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><span><br/></span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div><span><br/></span></div></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">SIGNATURE </span></div><div style="text-align:center"><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:6pt;padding-left:234pt;text-align:right"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:55.555%"><tr><td style="width:1.0%"></td><td style="width:14.426%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.115%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:82.059%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">HILTON WORLDWIDE HOLDINGS INC.</span></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">By:</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">/s/ Kevin J. Jacobs</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Name:</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Kevin J. Jacobs</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Title:</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Chief Financial Officer and President, Global Development</span></td></tr></table></div><div style="text-align:right"><span><br/></span></div><div style="text-align:right"><span><br/></span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Date: February 4, 2021</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><span><br/></span></div></div></div></body></html>
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hlt-20210202
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported):
February 2, 2021
Hilton Worldwide Holdings Inc.
(Exact Name of Registrant as Specified in its Charter)
Delaware
001-36243
27-4384691
(State or Other Jurisdiction
of Incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
7930 Jones Branch Drive
,
Suite 1100
,
McLean
,
Virginia
22102
(Address of Principal Executive Offices) (Zip Code)
(
703
)
883-1000
(Registrant's Telephone Number, Including Area Code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading symbol(s)
Name of each exchange on which registered
Common Stock, $0.01 par value per share
HLT
New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange
Act.
☐
Item 1.01          Entry into a Material Definitive Agreement.
Indenture with respect to 3.625% Senior Notes due 2032
On February 2, 2021, Hilton Domestic Operating Company Inc. (the "Issuer"), an indirect subsidiary of Hilton Worldwide Holdings Inc. (the "Company"), issued and sold $1.5 billion aggregate principal amount of 3.625% Senior Notes due 2032 (the "Notes") under an Indenture, dated as of February 2, 2021 (the "Indenture"), by and among the Issuer, the Company, as a guarantor, the other guarantors party thereto, and Wilmington Trust, National Association, as trustee (in such capacity, the "Trustee"). The Notes were sold only to persons reasonably believed to be qualified institutional buyers in reliance on the exemption from registration provided by Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to non-U.S. persons outside the United States in reliance on Regulation S under the Securities Act.
The Notes were issued at 100% of their par value and bear interest at a rate of 3.625% per annum. Interest on the Notes is payable semi-annually in arrears on February 15 and August 15, beginning August 15, 2021. The Notes mature on February 15, 2032.
The net proceeds of the offering of the Notes, together with available cash, were used to redeem all $1.5 billion in aggregate principal amount of the Issuer's outstanding 5.125% Senior Notes due 2026 (the "2026 Notes"), and to pay the related redemption premium and all fees and expenses related thereto.
Ranking; Guarantees
The Notes are the Issuer's senior unsecured obligations, ranking equally in right of payment with all of the Issuer's existing and future senior indebtedness and senior in right of payment to all of the Issuer's existing and future subordinated indebtedness.
The Notes are guaranteed, on a senior unsecured basis, by (i) Hilton Worldwide Parent LLC ("HWP"), the Issuer's direct parent company, (ii) the Company, the immediate parent company of HWP, and (iii) each of the Issuer's existing and future wholly owned subsidiaries to the extent such entities guarantee indebtedness under the Issuer's senior secured credit facilities or certain other indebtedness of the Issuer or any subsidiary guarantor.
Optional Redemption
The Issuer may, at its option, redeem the Notes, in whole or in part, at any time prior to August 15, 2026, at a price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date, plus the applicable "make-whole premium." In addition, beginning on August 15, 2026, the Issuer may redeem all or a part of the Notes at a redemption price equal to 101.813% of the principal amount redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. The redemption price decreases to 101.208%, 100.604% and 100.000% of the principal amount redeemed on August 15, 2027, August 15, 2028 and August 15, 2029, respectively. In addition, at any time on or prior to February 15, 2024, the Issuer may, at its option, redeem up to 40.0% of the aggregate principal amount of the Notes issued under the Indenture with the proceeds of certain equity offerings at a redemption price of 103.625% of the principal amount thereof, plus accrued and unpaid interest.
Repurchase at the Option of Holders
Upon the occurrence of a change of control triggering event or upon the sale of certain assets in which the Issuer and its restricted subsidiaries do not apply the proceeds as required, the holders of the Notes will have the right to require the Issuer to make an offer to repurchase each holder's Notes at a price equal to 101% (in the case of a change of control triggering event) or 100% (in the case of an asset sale) of their principal amount, plus accrued and unpaid interest.
Covenants; Events of Default
The Indenture contains covenants that, among other things, limit the ability of the Issuer and its restricted subsidiaries to incur additional indebtedness or issue certain preferred shares, pay dividends, redeem stock or make other distributions, make certain investments, sell or transfer certain assets, create liens, consolidate, merge, sell or otherwise dispose of all or substantially all of the Issuer's assets, enter into certain transactions with affiliates, and designate subsidiaries as unrestricted subsidiaries. These covenants are subject to a number of important exceptions and qualifications. Neither HWP nor the Company is subject to the restrictive covenants of the Indenture. The Notes also contain customary events of default, the occurrence of which could result in the principal of and accrued interest on the Notes to become or be declared due and payable.
The foregoing description of the Indenture and the Notes does not purport to be complete and is qualified in its entirety by reference to the full text of each of such documents, which are filed as Exhibits 4.1 and 4.2 to this Current Report on Form 8-K and are incorporated herein by reference.
Item 1.02           Termination of a Material Definitive Agreement.
On February 4, 2021, the Issuer completed the redemption in full of all of the $1.5 billion aggregate principal amount of issued and outstanding 2026 Notes at a redemption price of 100.000% of the outstanding aggregate principal amount, plus accrued and unpaid interest to, but excluding, the redemption date, plus a make-whole premium in the aggregate amount of approximately $55 million. As a result, the Indenture, dated as of April 13, 2018 (as amended and supplemented, the "2026 Notes Indenture"), by and among the Issuer, the Company and other guarantors party thereto, and Wilmington Trust, National Association, as trustee, was satisfied and discharged and the Issuer and guarantors have no further obligations under the 2026 Notes, the related guarantees or the 2026 Notes Indenture.
Item 2.03           Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth under Item 1.01 above is incorporated by reference into this Item 2.03.
Item 9.01           Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No.
Description
4.1
Indenture, dated as of February 2, 2021, by and among Hilton Domestic Operating Company Inc., the guarantors from time to time party thereto and Wilmington Trust, National Association, as trustee.
4.2
Form of 3.625% Senior Note due 2032 (included in Exhibit 4.1).
101
Interactive Data File - XBRL tags are embedded within the Inline XBRL document.
104
Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
HILTON WORLDWIDE HOLDINGS INC.
By:
/s/ Kevin J. Jacobs
Name:
Kevin J. Jacobs
Title:
Chief Financial Officer and President, Global Development
Date: February 4, 2021