Free Writing Prospectus

Filed pursuant to Rule 433
Dated June 22, 2015
Relating to
Preliminary Prospectus Supplement dated June 22, 2015 to
Prospectus dated July 25, 2013
Registration Statement No. 333-190137

 

Final Term Sheet

 

 

$300 million 5.00% Senior Notes due 2025

 

Issuer:

Corporate Office Properties, L.P.

Guarantor:

Corporate Office Properties Trust

Format:

SEC Registered

Expected Ratings (Moody’s/S&P/Fitch):*

Baa3/BBB-/BBB

Principal Amount:

$300 million

Title of Securities:

5.00% Senior Notes due 2025

Trade Date:

June 22, 2015

Original Issue Date (Settlement Date):

June 29, 2015 (T+5)

Maturity Date:

July 1, 2025

Interest Payment Dates:

Semi-annually in arrears on each January 1 and July 1, commencing January 1, 2016

Benchmark Treasury:

2.125% due May 15, 2025

Benchmark Treasury Price/Yield:

97-29/2.363%

Spread to Benchmark Treasury:

T+270 basis points

Yield to Maturity:

5.063%

Coupon (Interest Rate):

5.00% per annum

Public Offering Price:

99.510% of the principal amount

Optional Redemption Provisions:

 

Make-Whole Call:

Prior to April 1, 2025, T+45 basis points

Par Call:

On or after April 1, 2025

CUSIP / ISIN:

22003B AK2 / US22003BAK26

Joint Book-Running Managers:

Merrill Lynch, Pierce, Fenner & Smith

Incorporated

Citigroup Global Markets Inc.

Wells Fargo Securities, LLC

 


 

Senior Co-Managers:

Regions Securities LLC

 

Stifel, Nicolaus & Company, Incorporated

Co-Managers:

Capital One Securities, Inc.

 

SunTrust Robinson Humphrey, Inc.

 

U.S. Bancorp Investments, Inc.

 

*Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.

 

The issuer has filed a registration statement (including a prospectus) and a preliminary prospectus supplement dated June 22, 2015 with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement, the related preliminary 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 supplement and accompanying prospectus if you request it by calling Merrill Lynch, Pierce, Fenner & Smith Incorporated toll-free at 1-800-294-1322, Citigroup Global Markets Inc. toll-free at 1-800-831-9146 or Wells Fargo Securities, LLC toll-free at 1-800-645-3751.

 

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