FWP 1 tm217130d2_fwp.htm FWP

 

Issuer Free Writing Prospectus filed pursuant to Rule 433
supplementing the Preliminary Prospectus Supplement dated
February 22, 2021 and the Prospectus dated August 9, 2019
Registration No. 333-233159

 

WPC Eurobond B.V.

 

€525,000,000 0.950% Senior Notes due 2030

 

Issuer:WPC Eurobond B.V.
  
Guarantor:W. P. Carey Inc.
  
Offering Format: SEC Registered
   
Security Type: Senior Unsecured Fixed Rate Notes
   
Aggregate Principal Amount: €525,000,000
   
Stated Maturity Date: June 1, 2030
   
Coupon:0.950% per year
  
Public Offering Price: 99.335%, plus accrued and unpaid interest, if any, from the Settlement Date
   
Mid-Swap Yield: -0.074%
   
Spread to Mid-Swap Yield: +110 basis points
   
Benchmark Government Security: DBR 0.000% due February 15, 2030
   
Benchmark Government Security Price: 103.880%
   
Spread to Benchmark Government Security:+144.9 basis points
  
Yield to Maturity (annual): 1.026%
   
Interest Payment Dates: June 1 of each year, commencing June 1, 2021 (short first coupon)
   
Day Count Convention: Actual/Actual (ICMA)
   
Optional Redemption: At any time prior to March 1, 2030 (i.e., three months prior to the Stated Maturity Date), make-whole call based on the Comparable Government Bond Rate plus 25 basis points; if redeemed on or after March 1, 2030 (i.e., three months prior to the Stated Maturity Date), at 100% of the aggregate principal amount of the Notes to be redeemed; plus, in each case, accrued and unpaid interest, if any, on the principal amount of the notes to be redeemed to, but not including, such redemption date.

 

 

 

 

Listing:The Issuer intends to list the notes on the Global Exchange Market of the Irish Stock Exchange.
  
Joint Book-Running Managers: Barclays Bank PLC
BofA Securities Europe SA
Wells Fargo Securities Europe S.A.
   
Senior Co-Manager: Bank of Montreal Europe PLC
   
Co-Managers: BNY Mellon Capital Markets, LLC
RBC Europe Limited
Scotiabank Europe plc
Stifel Europe Bank AG
U.S. Bancorp Investments, Inc.
   
ISIN/Common Code: XS2306082293 / 230608229
   
MiFID II Product Governance: Manufacturer target market (MiFID II product governance) is eligible counterparties and professional clients only (all distribution channels)
   
UK MiFIR Product Governance: Manufacturer target market (UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels)
   
PRIIPs:No EU PRIIPs or UK PRIIPs key information document (KID) has been prepared as not available to retail in the EEA or in the UK
  
Denominations:€100,000 x €1,000
  
Trade Date: February 22, 2021
   
Settlement Date; Settlement and Trading: March 8, 2021, through the facilities of Euroclear Bank SA/NV, as operator of the Euroclear System, and Clearstream Banking, S.A.
   
Expected Ratings: Baa2 (Stable) by Moody’s Investors Service, Inc. and BBB (Stable) by Standard & Poor’s*

 

Terms used herein but not defined shall have the respective meanings as set forth in the Issuer’s preliminary prospectus supplement dated February 22, 2021.

 

* A securities rating is not a recommendation to buy, sell or hold securities. Ratings may be subject to revision or withdrawal at any time. Each securities rating should be evaluated independently of any other security rating.

 

 

 

 

MiFID II professionals/ECPs-only / No PRIIPs KID – Manufacturer target market (MiFID II product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document (KID) has been prepared as the Notes are not available to retail investors in the EEA.

 

UK MiFIR professionals/ECPs-only / No UK PRIIPs KID – Manufacturer target market (MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document (KID) has been prepared as the Notes are not available to retail investors in the United Kingdom.

 

The communication of this pricing term sheet and any other document or materials relating to the issue of the Notes offered hereby is not being made, and such documents and/or materials have not been approved, by an authorized person for the purposes of section 21 of the United Kingdom’s Financial Services and Markets Act 2000, as amended (the “FSMA”). Accordingly, such documents and/or materials are not being distributed to, and must not be passed on to, the general public in the United Kingdom. The communication of such documents and/or materials as a financial promotion is only being made to those persons in the United Kingdom who have professional experience in matters relating to investments and who fall within the definition of investment professionals (as defined in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Financial Promotion Order”)), or who fall within Article 49(2)(a) to (d) of the Financial Promotion Order, or who are any other persons to whom it may otherwise lawfully be made under the Financial Promotion Order (all such persons together being referred to as “relevant persons”). In the United Kingdom, the Notes offered hereby are only available to, and any investment or investment activity to which this pricing term sheet relates will be engaged in only with, relevant persons. Any person in the United Kingdom that is not a relevant person should not act or rely on this pricing term sheet or any of its contents.

 

The Issuer and the Guarantor have filed a registration statement (including a prospectus) with the Securities and Exchange Commission (“SEC”) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents that the Issuer and the Guarantor have filed with the SEC, including the prospectus supplement relating to the notes, for more complete information about the issuer and this offering. You may get these documents for free by visiting the SEC Web site at www.sec.gov. Alternatively, the Issuer, the Guarantor any underwriter or any dealer participating in the offering will arrange to send you the prospectus and the prospectus supplement relating to the notes if you request it by contacting Barclays Bank PLC collect at 1-888-603-5847, BofA Securities Europe SA toll-free at 1-800-294-1322 or Wells Fargo Securities Europe S.A. toll-free at 1-800-645-3751.