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Name | Symbol | Market | Type |
---|---|---|---|
Public Storage | NYSE:PSA-X | NYSE | Preference Share |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 25.00 | 0 | 01:00:00 |
Issuer Free Writing Prospectus
Filed Pursuant to Rule 433
Registration Statement No. 333-231510
January 14, 2021
PUBLIC STORAGE
$500,000,000 0.875% Senior Notes due 2026
Final Term Sheet
Issuer: |
Public Storage (PSA) | |
Security: |
0.875% Senior Notes due 2026 (the Notes) | |
Trade Date: |
January 14, 2021 | |
Settlement Date: |
January 19, 2021 (T+2) | |
Aggregate Principal Amount: |
$500,000,000 | |
Maturity Date: |
February 15, 2026 | |
Coupon: |
0.875% per annum | |
Benchmark Treasury: |
0.375% due December 31, 2025 | |
Benchmark Treasury Price / Yield: |
99-15 1⁄4 / 0.482% | |
Spread to Benchmark Treasury: |
T+ 43 basis points | |
Yield to Maturity: |
0.912% | |
Price to Public: |
99.817% of principal amount | |
Underwriting Discount: |
0.600% of principal amount | |
The underwriters have agreed to make a payment to Public Storage in an amount equal to $1,250,000, including in respect of expenses. | ||
Interest Payment Dates: |
February 15 and August 15 of each year, commencing on August 15, 2021 | |
Record Dates: |
February 1 and August 1 | |
Redemption Provision: |
Make-whole call prior to January 15, 2026 (one month prior to the maturity date of the Notes) based on U.S. Treasury + 10 basis points or at par on or after January 15, 2026 | |
Joint Book-Running Managers: |
BofA Securities, Inc. | |
J.P. Morgan Securities LLC | ||
Wells Fargo Securities, LLC | ||
ISIN Number: |
US74460WAA53 | |
CUSIP Number: |
74460W AA5 |
The issuer has filed a registration statement (including a base prospectus) and prospectus supplement with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the base prospectus in that registration statement, the prospectus supplement, 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 website at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the base prospectus and the prospectus supplement related thereto if you request it by contacting BofA Securities, Inc. toll-free 1-800-294-1322; J.P. Morgan Securities LLC collect 212-834-4533; or Wells Fargo Securities, LLC toll-free 1-800-645-3751.
Any disclaimers or other notices that may appear below are not applicable to this communication and should be disregarded. Such disclaimers or other notices were automatically generated as a result of this communication being sent via Bloomberg or another email system.
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