Filed Pursuant to Rule 433
Dated October 8, 2020
Registration Statement No. 333-224701
Relating to
Preliminary Prospectus Supplement Dated October 8, 2020 to
Prospectus dated May 7, 2018
Federal Realty Investment Trust
1.250% Notes due 2026
Term Sheet dated October 8, 2020
| Issuer: | Federal Realty Investment Trust | |
| Security: | 1.250% Notes due 2026 (the “Notes”) | |
| Expected Ratings*: | A3 / A- | |
| (Moody’s / S&P) | ||
| Aggregate Principal Amount: | $400,000,000 | |
| Trade Date: | October 8, 2020 | |
| Settlement Date: | October 13, 2020 (T+2) | |
| Maturity Date: | February 15, 2026 | |
| Interest Payment Dates: | February 15 and August 15, beginning on February 15, 2021 | |
| Benchmark Treasury: | 0.250% due September 30, 2025 | |
| Benchmark Treasury Price/Yield: | 99-19+ / 0.329% | |
| Spread to Benchmark Treasury: | +105 basis points | |
| Re-Offer Yield: | 1.379% | |
| Coupon (Interest Rate): | 1.250% per year | |
| Price to Public: | 99.339% of the principal amount, plus accrued interest, if any, from October 13, 2020 | |
| Redemption Provision: | At any time before January 15, 2026, make-whole call based on U.S. Treasury plus 20 basis points (0.20%); if redeemed on or after January 15, 2026, 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 BB2 / US313747BB27 | |
| Joint Book-Running Managers: | BofA Securities, Inc. | |
| Deutsche Bank Securities Inc. | ||
| J.P. Morgan Securities LLC | ||
| Wells Fargo Securities, LLC | ||
| Citigroup Global Markets Inc. | ||
| Jefferies LLC | ||
| U.S. Bancorp Investments, Inc. | ||
| Co-Managers: | Regions Securities LLC | |
| Scotia Capital (USA) Inc. | ||
| TD Securities (USA) LLC | ||
| Truist Securities, 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) Deutsche Bank Securities Inc. toll-free at 1-800-503-4611, (iii) J.P. Morgan Securities LLC collect at 1-212-834-4533 or (iv) Wells Fargo Securities, LLC toll-free at 1-800-645-3751.
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