0001193125-16-732936.txt : 20161007 0001193125-16-732936.hdr.sgml : 20161007 20161006175132 ACCESSION NUMBER: 0001193125-16-732936 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20161007 DATE AS OF CHANGE: 20161006 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Public Storage CENTRAL INDEX KEY: 0001393311 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 953551121 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-211758 FILM NUMBER: 161925687 BUSINESS ADDRESS: STREET 1: 701 WESTERN AVENUE CITY: GLENDALE STATE: CA ZIP: 91201-2349 BUSINESS PHONE: 818-244-8080 MAIL ADDRESS: STREET 1: 701 WESTERN AVENUE CITY: GLENDALE STATE: CA ZIP: 91201-2349 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Public Storage CENTRAL INDEX KEY: 0001393311 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 953551121 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: 701 WESTERN AVENUE CITY: GLENDALE STATE: CA ZIP: 91201-2349 BUSINESS PHONE: 818-244-8080 MAIL ADDRESS: STREET 1: 701 WESTERN AVENUE CITY: GLENDALE STATE: CA ZIP: 91201-2349 FWP 1 d249708dfwp.htm FWP FWP

Issuer Free Writing Prospectus

Filed Pursuant to Rule 433

Registration Statement No. 333-211758

October 6, 2016

PUBLIC STORAGE

14,000,000 DEPOSITARY SHARES

EACH REPRESENTING 1/1000 OF A 4.90% CUMULATIVE

PREFERRED SHARE OF BENEFICIAL INTEREST, SERIES E

Final Term Sheet

 

Issuer:    Public Storage (PSA)
Security:    Depositary Shares Each Representing 1/1000 of a 4.90% Cumulative Preferred Share of Beneficial Interest, Series E
Size:    14,000,000 depositary shares
Over-allotment Option:    2,100,000 depositary shares at $25.00 per depositary shares
Type of Security:    SEC Registered – Registration Statement No. 333-211758
Public Offering Price:    $25.00 per depositary share; $350,000,000 total (not including over-allotment option)
Underwriting Discounts:    $0.7875 per share for Retail Orders; $11,025,000 total
Proceeds to the Company, before expenses:    $338,975,000 total (not including over-allotment option)
Estimated Company Expenses:    $125,000, other than the underwriting discounts
Joint Book-Running Managers:    Merrill Lynch, Pierce, Fenner & Smith
  

 Incorporated

   
   Morgan Stanley & Co. LLC
   UBS Securities LLC
   Wells Fargo Securities, LLC
Underwriting:   
     

Number of

Firm Shares

Merrill Lynch, Pierce, Fenner & Smith         3,500,000

 Incorporated

      
Morgan Stanley & Co. LLC         3,500,000
UBS Securities LLC         3,500,000
Wells Fargo Securities, LLC      

  3,500,000

Total       14,000,000
Distribution Rights:    4.90% of the liquidation preference per annum; Distributions begin on December 31, 2016 (prorated from the settlement date)

Redemption:    The depositary shares may not be redeemed until on or after October 14, 2021, except in order to preserve our status as a real estate investment trust.
Trade Date:    October 6, 2016
Settlement Date:    October 14, 2016 (T+5)
Selling Concession:    $0.50/depositary share for Retail Orders
Reallowance to other dealers:    $0.45/depositary share for Retail Orders
CUSIP Number:    74460W 719
ISIN Number:    US74460W7193

The Issuer has filed a registration statement (including a prospectus with the SEC) and prospectus supplement for the offering to which this communication relates. Before you invest, you should read the 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 Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus or prospectus supplement if you request it by calling (i) Merrill Lynch, Pierce, Fenner & Smith Incorporated toll-free 1-800-294-1322; (ii) Morgan Stanley & Co. LLC toll-free 1-866-718-1649; (iii) UBS Securities LLC toll-free 1-888-827-7275; or (iv) 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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