| | ||||||||||||||||||||||||||||
Title of Each Class of
Securities to be Registered |
| | |
Amount To be
Registered |
| | |
Proposed
Maximum Offering Price Per Security |
| | |
Proposed
Maximum Aggregate Offering Price |
| | |
Amount of
Registration Fee(3) |
| ||||||||||||
1.875% Notes due 2027
|
| | | | $ | 339,575,000(1) | | | | | | | 99.487% | | | | | | $ | 337,832,980.25(1) | | | | | | $ | 31,317.12 | | |
2.500% Notes due 2042
|
| | | | $ | 339,575,000(2) | | | | | | | 98.445% | | | | | | $ | 334,294,608.75(2) | | | | | | $ | 30,989.12 | | |
TOTAL | | | | | | | | | | | | | | | | | | | $ | 672,127,589.00 | | | | | | $ | 62,306.24 | | |
| | |
Per
2027 Note |
| |
Total for
2027 Notes |
| |
Per
2042 Note |
| |
Total for
2042 Notes |
| |
Total
|
| |||||||||||||||
Public offering price(1)
|
| | | | 99.487% | | | | | £ | 248,717,500 | | | | | | 98.445% | | | | | £ | 246,112,500 | | | | | £ | 494,830,000 | | |
Underwriting discount
|
| | | | 0.625% | | | | | £ | 1,562,500 | | | | | | 0.625% | | | | | £ | 1,562,500 | | | | | £ | 3,125,000 | | |
Proceeds, before expenses, to Realty Income Corporation(1)
|
| | | | 98.862% | | | | | £ | 247,155,000 | | | | | | 97.820% | | | | | £ | 244,550,000 | | | | | £ | 491,705,000 | | |
| Mizuho Securities | | | Barclays | | | BofA Securities | | |
Citigroup
|
|
| BNY Mellon Capital Markets, LLC | | |
PNC Capital Markets LLC
|
| |
Truist Securities
|
|
| Ramirez & Co., Inc. | | |
Academy Securities
|
| |
Berenberg
|
|
| | |
Page
|
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| | | | S-1 | | | |
| | | | S-12 | | | |
| | | | S-22 | | | |
| | | | S-25 | | | |
| | | | S-26 | | | |
| | | | S-28 | | | |
| | | | S-44 | | | |
| | | | S-46 | | | |
| | | | S-52 | | | |
| | | | S-53 | | | |
| | | | S-54 | | |
| | |
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| | | | 57 | | | |
| | | | 57 | | | |
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| | | | 59 | | |
|
Note Covenants
|
| |
Required
|
| |
Actual
|
|
|
Limitation on incurrence of total Debt
|
| | ≤60% of Adjusted Total Assets | | | 37.0% | |
|
Limitation on incurrence of Secured Debt
|
| | ≤40% of Adjusted Total Assets | | | 1.3% | |
|
Debt service coverage ratio
|
| | ≥1.5x | | | 6.1x(1) | |
|
Maintenance of Total Unencumbered Assets
|
| | ≥150% of Unsecured Debt | | | 275.4% | |
Underwriter
|
| |
Principal Amount
of 2027 Notes |
| |
Principal Amount
of 2042 Notes |
| ||||||
J.P. Morgan Securities plc
|
| | | £ | 20,000,000 | | | | | £ | 20,000,000 | | |
The Toronto-Dominion Bank
|
| | | | 20,000,000 | | | | | | 20,000,000 | | |
Wells Fargo Securities International Limited
|
| | | | 42,500,000 | | | | | | 42,500,000 | | |
Mizuho International plc
|
| | | | 18,750,000 | | | | | | 18,750,000 | | |
Barclays Bank PLC
|
| | | | 10,625,000 | | | | | | 10,625,000 | | |
Merrill Lynch International
|
| | | | 10,625,000 | | | | | | 10,625,000 | | |
Citigroup Global Markets Limited
|
| | | | 10,625,000 | | | | | | 10,625,000 | | |
Credit Suisse International
|
| | | | 10,625,000 | | | | | | 10,625,000 | | |
Goldman Sachs & Co. LLC
|
| | | | 10,625,000 | | | | | | 10,625,000 | | |
RBC Europe Limited
|
| | | | 10,625,000 | | | | | | 10,625,000 | | |
Regions Securities LLC
|
| | | | 8,750,000 | | | | | | 8,750,000 | | |
Scotiabank Europe plc
|
| | | | 8,750,000 | | | | | | 8,750,000 | | |
U.S. Bancorp Investments, Inc.
|
| | | | 8,750,000 | | | | | | 8,750,000 | | |
BNY Mellon Capital Markets, LLC
|
| | | | 7,500,000 | | | | | | 7,500,000 | | |
PNC Capital Markets LLC
|
| | | | 7,500,000 | | | | | | 7,500,000 | | |
Truist Securities, Inc.
|
| | | | 7,500,000 | | | | | | 7,500,000 | | |
Bank of Montreal, London Branch
|
| | | | 5,625,000 | | | | | | 5,625,000 | | |
Morgan Stanley & Co. International plc
|
| | | | 5,625,000 | | | | | | 5,625,000 | | |
Stifel Nicolaus Europe Limited
|
| | | | 5,625,000 | | | | | | 5,625,000 | | |
UBS AG London Branch
|
| | | | 5,625,000 | | | | | | 5,625,000 | | |
BNP Paribas
|
| | | | 2,500,000 | | | | | | 2,500,000 | | |
Comerica Securities, Inc.
|
| | | | 2,500,000 | | | | | | 2,500,000 | | |
Evercore Group L.L.C.
|
| | | | 2,500,000 | | | | | | 2,500,000 | | |
Samuel A. Ramirez & Company, Inc.
|
| | | | 2,500,000 | | | | | | 2,500,000 | | |
Academy Securities, Inc.
|
| | | | 1,875,000 | | | | | | 1,875,000 | | |
Berenberg Capital Markets LLC
|
| | | | 1,875,000 | | | | | | 1,875,000 | | |
Total
|
| | | £ | 250,000,000 | | | | | £ | 250,000,000 | | |
| | |
Per 2027 Note
|
| |
Total for
2027 Notes |
| |
Per 2042 Note
|
| |
Total for
2042 Notes |
| |
Total for
All Notes |
| |||||||||||||||
Underwriting discount
|
| | | | 0.625% | | | | | £ | 1,562,500 | | | | | | 0.625% | | | | | £ | 1,562,500 | | | | | £ | 3,125,000 | | |
| | |
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