Free Writing Prospectus
Filed Pursuant to Rule 433
Registration Statement 333-202877
NATIONAL FUEL GAS COMPANY
Final Term Sheet
June 22, 2015

Issuer:	  	National Fuel Gas Company	
		
Security:	  	5.20% Notes due 2025	
		
Size:	  	$450,000,000	
		
Maturity:	  	July 15, 2025	
		
Coupon (Interest Rate):	  	5.20% per annum	
		
Yield to Maturity:	  	5.240%	
		
Spread to Benchmark Treasury:	  	+287.5 basis points	
		
Benchmark Treasury:	  	2.125% due May 15, 2025	
		
Benchmark Treasury Yield:	  	2.365%	
		
Interest Payment Dates:	  	January 15 and July 15, commencing January 15, 2016	
		
Price to Public:	  	99.686%	
		
Make-Whole Optional Redemption:	  	At any time prior to April 15, 2025 at a discount rate of Treasury plus 45 basis points	
		
At Par Optional Redemption:	  	On or after April 15, 2025 (the date three months prior to the maturity date)	
		
Trade Date:	  	June 22, 2015	
		
Settlement Date:	  	June 25, 2015	
		
CUSIP:	  	636180 BM2	
		
Ratings:	  	Baa2/BBB/BBB+ (Moody’s / S&P / Fitch)*	

			
		
Joint Book-Running Managers:	  	J.P. Morgan Securities LLC
Merrill Lynch, Pierce, Fenner & Smith
                       Incorporated
Wells Fargo Securities, LLC
HSBC Securities (USA) Inc.	
		
Senior Co-Managers:	  	CIBC World Markets Corp.
PNC Capital Markets LLC
U.S. Bancorp Investments, Inc.	
		
Co-Managers:	  	BB&T Capital Markets, a division of BB&T Securities, LLC
BNY Mellon Capital Markets, LLC**
KeyBanc Capital Markets Inc.	
 
*	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 Bank of New York Mellon, an affiliate of BNY Mellon Capital Markets, LLC, is the trustee under the Indenture.	
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, J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated or Wells Fargo Securities, LLC can arrange to send you the prospectus if you request it by calling J.P. Morgan Securities LLC collect at 212-834-4533, Merrill Lynch, Pierce, Fenner & Smith Incorporated toll-free at 1-800-294-1322 or Wells Fargo Securities, LLC toll-free at 1-800-645-3751.