-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Fo9OT2jVkDV9hBcqi5X8CA/z9xwuDuDwQXR2H/JAN5nj5Ot4quipbckyHSvE8XAv U3mbXjmCYty2LNAICtS0Ww== 0000950153-08-001004.txt : 20080516 0000950153-08-001004.hdr.sgml : 20080516 20080516174449 ACCESSION NUMBER: 0000950153-08-001004 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20080516 DATE AS OF CHANGE: 20080516 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: STARWOOD HOTEL & RESORTS WORLDWIDE INC CENTRAL INDEX KEY: 0000316206 STANDARD INDUSTRIAL CLASSIFICATION: HOTELS & MOTELS [7011] IRS NUMBER: 521193298 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-145894 FILM NUMBER: 08843461 BUSINESS ADDRESS: STREET 1: 1111 WESTCHESTER AVENUE CITY: WHITE PLAINS STATE: NY ZIP: 10604 BUSINESS PHONE: 9146408100 MAIL ADDRESS: STREET 1: 2231 E CAMELBACK RD. 4TH FL STREET 2: SUITE 4O0 CITY: PHOENIX STATE: AZ ZIP: 85016 FORMER COMPANY: FORMER CONFORMED NAME: STARWOOD LODGING CORP DATE OF NAME CHANGE: 19950215 FORMER COMPANY: FORMER CONFORMED NAME: HOTEL INVESTORS CORP DATE OF NAME CHANGE: 19920703 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: STARWOOD HOTEL & RESORTS WORLDWIDE INC CENTRAL INDEX KEY: 0000316206 STANDARD INDUSTRIAL CLASSIFICATION: HOTELS & MOTELS [7011] IRS NUMBER: 521193298 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: 1111 WESTCHESTER AVENUE CITY: WHITE PLAINS STATE: NY ZIP: 10604 BUSINESS PHONE: 9146408100 MAIL ADDRESS: STREET 1: 2231 E CAMELBACK RD. 4TH FL STREET 2: SUITE 4O0 CITY: PHOENIX STATE: AZ ZIP: 85016 FORMER COMPANY: FORMER CONFORMED NAME: STARWOOD LODGING CORP DATE OF NAME CHANGE: 19950215 FORMER COMPANY: FORMER CONFORMED NAME: HOTEL INVESTORS CORP DATE OF NAME CHANGE: 19920703 FWP 1 p75476fwfwp.htm FWP fwp
Filed Pursuant to Rule 433
Registration No. 33-145894
May 16, 2008
Starwood Hotels & Resorts Worldwide, Inc.
Pricing Term Sheet Dated May 16, 2008
6.25% Senior Notes Due 2013
6.75% Senior Notes Due 2018
     
Issuer:
  Starwood Hotels & Resorts Worldwide, Inc.
 
    
Size:
  2013 Notes: $200 million aggregate principal amount of 6.25% Senior Notes due 2013
 
    
 
  2018 Notes: $400 million aggregate principal amount of 6.75% Senior Notes due 2018
 
    
Maturity:
  2013 Notes: February 15, 2013
2018 Notes: May 15, 2018
 
    
Coupon:
  2013 Notes: 6.25%, accruing from February 15, 2008
2018 Notes: 6.75%, accruing from May 23, 2008
 
    
Price to Public:
  2013 Notes: 100.747% of face amount, plus
accrued interest from February 15, 2008
2018 Notes: 100.000% of face amount, plus
accrued interest, if any, from May 23, 2008
 
    
Yield to maturity:
  2013 Notes: 6.063% of face amount
2018 Notes: 6.750% of face amount
 
    
Spread to Benchmark Treasury:
  2013 Notes: T+ 300.0 basis points
2018 Notes: T+296.6 basis points
 
    
Benchmark Treasury:
  2013 Notes: UST 3.125% due April 30, 2013
2018 Notes: UST 3.875% due May 15, 2018
 
    
Benchmark Treasury Yield:
  2013 Notes: 100-09; 3.063%
2018 Notes: 100-24; 3.784%
 
    
Interest Payment Dates:
  2013 Notes: February 15 and August 15, commencing August 15, 2008
 
    
 
  2018 Notes: May 15 and November 15, commencing November 15, 2008

 

 

     
Record Dates:
  2013 Notes: February 1 and August 1
2018 Notes: May 1 and November 1
 
    
Redemption Provisions:
    
Make-whole call
  2013 Notes: At any time at a discount rate of Treasury plus 35 basis points
 
    
 
  2018 Notes: At any time at a discount rate of Treasury plus 45 basis points
 
    
Settlement:
  T+5; May 23, 2008
 
    
CUSIP:
  2013 Notes: 85590A AK0
2018 Notes: 85590A AL8
 
    
Ratings:
  Baa3 (stable)/BBB-(stable)/BBB-(stable)
 
    
 
  2013 Notes
 
    
Joint Book-Running Managers:
  Banc of America Securities LLC, J.P. Morgan Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. Incorporated (25% each)
 
    
 
  2018 Notes
 
    
Joint Book-Running Managers:
  Banc of America Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated (30% each)
 
    
 
  J.P. Morgan Securities Inc. and Morgan Stanley & Co. Incorporated (10% each)
 
    
Senior Co-Managers:
  Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Greenwich Capital Markets, Inc., Scotia Capital (USA) Inc. (3.5% each)
 
    
Junior Co-Managers:
  BBVA Securities, Inc., Calyon Securities (USA) Inc., Lazard Capital Markets LLC, Mizuho Securities USA Inc. (1.5% each)

 

 

     We expect that the delivery of the notes will be made against payment therefore on the settlement date specified above, which is the fifth business day following the date of this term sheet, or “T+5.” Under Rule 15c6-1 of the Exchange Act, trades in the secondary market generally are required to settle in three business days, or “T+3,” unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the notes on the date of this term sheet or the immediately following business day, will be required, by virtue of the fact that the notes initially will settle in T+5, to specify an alternative settlement cycle at the time of any such trade to prevent a failed settlement. Purchasers of the notes who wish to trade the notes on the date of this term sheet or the immediately following business day should consult their own advisor.
     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, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Banc of America Securities LLC at 1-800-294-1322, J.P. Morgan Securities Inc. at 1-212-834-4533, Merrill Lynch, Pierce, Fenner & Smith Incorporated at 1-866-500-5408 or Morgan Stanley & Co. Incorporated at 1-866-718-1649.

 

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