Toggle SGML Header (+)


Section 1: FWP (FWP)

MTN - October 2018 - FWP

Filed Pursuant to Rule 433

Registration No. 333-217491

Registration No. 333-217491-01

October 17, 2018

 

PRICING TERM SHEET

 

 

4.400% Medium-Term Notes due 2029

Issuer:

UDR, Inc.

Expected Ratings (Moody's/

S&P)*:

Baa1 (Stable) / BBB+ (Stable)

Security:

4.400% Medium-Term Notes due 2029

Guarantee:

Fully and unconditionally guaranteed by United Dominion Realty, L.P.

Principal Amount:

$300,000,000

Maturity Date:

January 26, 2029

Coupon:

4.400%

Interest Payment Dates:

January 26 and July 26, commencing January 26, 2019

Price to Public:

99.998% of the principal amount, plus accrued interest from October 26, 2018

Denominations:

$2,000 and integral multiples of $1,000

Benchmark Treasury:

2.875% due August 15, 2028

Benchmark Treasury Price/Yield:

97-16+ / 3.171%

Spread to Benchmark Treasury:

T+123 bps

Yield to Maturity:

4.401%

Optional Redemption Provisions:

 

Make-Whole Call:

T+20 bps;

Par Call:

Redemption at par plus accrued and unpaid interest on or after October 26, 2028 as set forth in the preliminary pricing supplement

Trade Date:

October 17, 2018

Settlement Date:

October 26, 2018 (T+7); since trades in the secondary market generally settle in two business days, purchasers who wish to trade notes on the date hereof or the next succeeding four business days will be required, by virtue of the fact that the notes initially will settle in T+7, to specify alternative settlement arrangements to prevent a failed settlement.

CUSIP:

90265EAP5

ISIN:

US90265EAP51


 

Joint Book-Running Managers:

Citigroup Global Markets Inc.

 

Merrill Lynch, Pierce, Fenner & Smith
                     Incorporated

Co-Managers:

J.P. Morgan Securities LLC

 

PNC Capital Markets LLC

 

Regions Securities LLC

 

U.S. Bancorp Investments, Inc.

 

Wells Fargo Securities, LLC

 

BB&T Capital Markets, a division of BB&T Securities, LLC

 

TD Securities (USA) LLC

 

Credit Suisse Securities (USA) LLC

 

Morgan Stanley & Co. LLC

 

BNY Mellon Capital Markets, LLC

 

MUFG Securities Americas Inc.

 

Samuel A. Ramirez & Company, 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) with the SEC for the offering to which this communication relates. Before you invest, you should read 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 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 by calling Citigroup Global Markets Inc. toll-free at 1 800 831 9146 or Merrill Lynch, Pierce, Fenner & Smith Incorporated toll-free at 1 800 294 1322.

 

 

 

 


(Back To Top)