Item 8.01. Other Events. On October 8, 2020, Tempur Sealy International, Inc. (the "Company") directed The Bank of New York Mellon Trust Company, N.A., as trustee (the "Trustee") of the Company's 5.625% Senior Notes due 2023 (the "Notes"), to notify noteholders that the Company has elected to redeem, in part, the issued and outstanding Notes, pursuant to paragraph 5 of the Notes and Section 3.01 of the Indenture dated as of September 24, 2015, as amended and supplemented to date, between the Company and the Trustee (the "Indenture"), and subject to the satisfaction of the Conditions (as defined below). The Company will redeem $200,000,000 in aggregate principal amount of the $450,000,000 in aggregate principal amount of issued and outstanding Notes on November 9, 2020 (the "Redemption Date"). The Notes will be redeemed at 101.406% of their principal amount, plus the accrued and unpaid interest thereon, if any, to, but excluding, the Redemption Date. The Company intends to primarily use current cash and cash equivalents to fund the redemption. The transaction is expected to result in annual interest expense savings of approximately $5 million.

The redemption is conditional on the determination by the Company's Chief Financial Officer, in his sole discretion, as of the second business day before the Redemption Date, that the redemption continues to be reasonably prudent and consistent with the Company's objectives concerning liquidity, financing needs and funding costs (the "Conditions"). In the event that the Conditions are not satisfied and the Company elects to rescind the redemption notice, the Company will give written notice thereof to the Trustee no later than the business day immediately preceding the Redemption Date, and will give, or cause the Trustee to give, notice thereof to noteholders promptly thereafter.

This Current Report on Form 8-K does not constitute a notice of redemption under the Indenture, nor an offer to tender for, or purchase, any Notes or any other security.

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