Issuer Free Writing Prospectus Filed Pursuant to Rule 433 Registration Statement No. 333-131384 November 14, 2006 |
LASALLE HOTEL PROPERTIES
7.25% SERIES G CUMULATIVE REDEEMABLE PREFERRED SHARES
Final Term Sheet
Issuer: LaSalle Hotel Properties
Security: 7.25% Series G Cumulative Redeemable Preferred Shares of Beneficial Interest
CUSIP: 517942603
Size: 4,000,000 shares Over-allotment option: 0 shares
Type of security: SEC RegisteredRegistration Statement No. 333-131384; preliminary prospectus supplement dated November 13, 2006
Public offering price: $25.00 per share; $100,000,000
Underwriting discount: $2,353,625 total
Proceeds to the Company, before expenses: $97,646,375 total
Expected net proceeds after deducting underwriting discount and estimated transaction expenses payable by the Company: $97,546,375
Sole Bookrunner: |
Wachovia Capital Markets, LLC | 3,520,000 shares | ||
Co-Managers: |
Raymond James & Associates, Inc. |
200,000 shares | ||
Robert W. Baird & Co. Incorporated |
120,000 shares | |||
Stifel, Nicolaus & Company, Incorporated |
120,000 shares | |||
BMO Capital Markets Corp. |
40,000 shares |
Distribution rate: 7.25% per annum of the liquidation preference per annum; $1.8125 per annum per share, cumulative from, but excluding, November 17, 2006 (subject to the dividend rate step-up to 8.25% per annum as described in the prospectus supplement)
Optional Redemption: On or after November 17, 2011 (subject to the special optional redemption right described in the prospectus supplement)
Settlement and delivery date: November 17, 2006
Maximum Selling concession: Not to exceed $0.50 per share
Maximum Reallowance to other dealers: Not to exceed $0.45 per share
The issuer has filed a registration statement (including a prospectus dated January 30, 2006 and a preliminary prospectus supplement dated November 13, 2006) 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 if you request it from Wachovia Capital Markets, LLC by calling toll-free 1-866-289-1262 or by emailing syndicate.ops@wachovia.com.