Pricing Supplement No. 98

Filed Under Rule 424(b)(3), Registration Statement No. 333-164985

Pricing Supplement No. 98 Dated September 12, 2011

(To: Prospectus Dated February 19, 2010 and Prospectus Supplement Dated February 19, 2010)

The information in this preliminary pricing supplement is not complete and may be changed. This preliminary pricing supplement and the accompanying prospectus supplement and prospectus are not offers to sell these securities and are not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.

Subject to Completion

Preliminary Pricing Supplement dated September 12, 2011

 

CUSIP
Number

 

Principal
Amount

 

Selling
Price

 

Gross
Concession

 

Net
Proceeds

 

Coupon
Rate

 

Coupon
Frequency

 

Maturity
Date

 

1st Coupon
Date

 

1st Coupon
Amount

 

Survivor’s
Option

 

Product
Ranking

26054LNF6

    100.000%   1.250%     2.850%   SEMI-ANNUAL   09/15/2016   03/15/2012   $13.70   Yes   Senior Unsecured Notes

Redemption Information: Callable at 100% on 9/15/2012 and every coupon date thereafter. Joint Lead Managers and Lead Agents: BofA Merrill Lynch, Incapital, LLC Agents: Charles Schwab & Co., Inc., Citigroup Global Markets Inc., Morgan Stanley & Co., Incorporated, UBS Securities LLC, Wells Fargo Advisors, LLC

The Dow Chemical Company InterNotes will be subject to redemption at the option of The Dow Chemical Company, in whole on the Interest Payment Date occurring any time on or after 09/15/2012 at a redemption price equal to 100% of the principal amount of The Dow Chemical Company InterNotes, plus accrued interest thereon, if any, upon at least 30 days prior notice to the Noteholder and the Trustee, as described in the Prospectus.

 

CUSIP

Number

 

Principal
Amount

 

Selling
Price

 

Gross
Concession

 

Net
Proceeds

 

Coupon
Rate

 

Coupon
Frequency

 

Maturity
Date

 

1st Coupon
Date

 

1st Coupon
Amount

 

Survivor’s
Option

 

Product
Ranking

26054LNG4

    100.000%   1.450%     3.550%   SEMI-ANNUAL   09/15/2018   03/15/2012   $17.06   Yes   Senior Unsecured Notes

Redemption Information: Callable at 100% on 9/15/2012 and every coupon date thereafter. Joint Lead Managers and Lead Agents: BofA Merrill Lynch, Incapital, LLC Agents: Charles Schwab & Co., Inc., Citigroup Global Markets Inc., Morgan Stanley & Co., Incorporated, UBS Securities LLC, Wells Fargo Advisors, LLC

The Dow Chemical Company InterNotes will be subject to redemption at the option of The Dow Chemical Company, in whole on the Interest Payment Date occurring any time on or after 09/15/2012 at a redemption price equal to 100% of the principal amount of The Dow Chemical Company InterNotes, plus accrued interest thereon, if any, upon at least 30 days prior notice to the Noteholder and the Trustee, as described in the Prospectus.


CUSIP

Number

 

Principal
Amount

 

Selling
Price

 

Gross
Concession

 

Net
Proceeds

 

Coupon
Rate

 

Coupon
Frequency

 

Maturity
Date

 

1st Coupon
Date

 

1st Coupon
Amount

 

Survivor’s
Option

 

Product
Ranking

26054LNH2

    100.000%   1.800%     4.150%   SEMI-ANNUAL   09/15/2021   03/15/2012   $19.94   Yes   Senior Unsecured Notes

Redemption Information: Callable at 100% on 9/15/2012 and every coupon date thereafter. Joint Lead Managers and Lead Agents: BofA Merrill Lynch, Incapital, LLC Agents: Charles Schwab & Co., Inc., Citigroup Global Markets Inc., Morgan Stanley & Co., Incorporated, UBS Securities LLC, Wells Fargo Advisors, LLC

The Dow Chemical Company InterNotes will be subject to redemption at the option of The Dow Chemical Company, in whole on the Interest Payment Date occurring any time on or after 09/15/2012 at a redemption price equal to 100% of the principal amount of The Dow Chemical Company InterNotes, plus accrued interest thereon, if any, upon at least 30 days prior notice to the Noteholder and the Trustee, as described in the Prospectus.

 

 

 

 

The Dow Chemical Company

  

Trade Date: Monday, September 19, 2011 @12:00 PM ET Settle Date: Thursday, September 22, 2011

Minimum Denomination/Increments:$1,000.00/$1,000.00

Initial trades settle flat and clear SDFS: DTC Book Entry only

DTC number: 0235 via RBC Dain Rauscher Inc.

 

If the maturity date or an interest payment date for any note is not a Business Day (as term is defined in Prospectus), principal, premium, if any, and interest for that note is paid on the next Business Day, and no interest will accrue from, and after, the maturity date or interest payment date.

 

InterNotes® is a registered trademark of Incapital Holdings, LLC. All rights reserved.

  

The Dow Chemical Company

The Dow Chemical Company InterNotes