Filed Pursuant to Rule 433
Dated August 19, 2019
Registration Statement No. 333-224701
Relating to
Preliminary Prospectus Supplement Dated August 19, 2019 to
Prospectus dated May 7, 2018
Federal Realty Investment Trust
3.20% Notes due 2029
Term Sheet dated August 19, 2019
| Issuer: | Federal Realty Investment Trust | |
| Security: | 3.20% Notes due 2029 (the “Notes”) | |
| Expected Ratings*: | A3 / A- | |
| (Moody’s / S&P) | ||
| Aggregate Principal Amount: | $100,000,000 (the Notes will be part of the same series of notes as the $300,000,000 aggregate principal amount of Federal Realty Investment Trust’s 3.20% Notes due 2029, which were originally issued on June 7, 2019) | |
| Trade Date: | August 19, 2019 | |
| Settlement Date: | August 21, 2019 (T+2) | |
| Maturity Date: | June 15, 2029 | |
| Interest Payment Dates: | June 15 and December 15, beginning on December 15, 2019 | |
| Benchmark Treasury: | 1.625% due August 15, 2029 | |
| Benchmark Treasury Price/Yield: | 100-09 / 1.594% | |
| Spread to Benchmark Treasury: | +115 basis points | |
| Re-Offer Yield: | 2.744% | |
| Coupon (Interest Rate): | 3.20% per year (interest on the Notes will accrue from June 7, 2019) | |
| Price to Public: | 103.813% of the principal amount, plus accrued interest of $657,777.78 from, and including, June 7, 2019 to, but excluding, the settlement date | |
| Redemption Provision: | At any time before March 15, 2029, make-whole call based on U.S. Treasury plus 20 basis points (0.20%); if redeemed on or after March 15, 2029, at 100% of the principal amount of the notes being redeemed, in each case plus accrued and unpaid interest thereon to, but excluding, the redemption date | |
| CUSIP/ISIN: | 313747 AZ0 / US313747AZ04 | |
| Joint Book-Running Managers: | BofA Securities, Inc. Jefferies LLC Wells Fargo Securities, LLC | |
| Co-Managers: | Citigroup Global Markets Inc. Deutsche Bank Securities Inc. J.P. Morgan Securities LLC Regions Securities LLC Scotia Capital (USA) Inc. SunTrust Robinson Humphrey, Inc. TD Securities (USA) LLC 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 preliminary prospectus supplement and a prospectus) with the Securities and Exchange Commission (the “SEC”) for the offering to which this communication relates. Before you invest, you should read the preliminary prospectus supplement and 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’s 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 prospectus if you request it from (i) BofA Securities, Inc. toll-free at 1-800-294-1322, (ii) Jefferies LLC toll free at 1-877-877-0696 or (iii) Wells Fargo Securities, LLC toll-free at 1-800-645-3751.
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