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Section 1: FWP (FWP)

MTN - June 2019 - FWP

Filed Pursuant to Rule 433

Registration No. 333-217491

Registration No. 333-217491-01

June 25, 2019

 

PRICING TERM SHEET

 

 

3.200% Medium-Term Notes due 2030

Issuer:

UDR, Inc.

Expected Ratings (Moody's/

S&P)*:

Baa1 (Stable) / BBB+ (Stable)

Security:

3.200% Medium-Term Notes due 2030

Guarantee:

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

Principal Amount:

$300,000,000

Maturity Date:

January 15, 2030

Coupon:

3.200%

Interest Payment Dates:

January 15 and July 15, commencing January 15, 2020

Price to Public:

99.662% of the principal amount, plus accrued interest from July 2, 2019

Denominations:

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

Benchmark Treasury:

2.375% due May 15, 2029

Benchmark Treasury Price/Yield:

103-14+ / 1.988%

Spread to Benchmark Treasury:

T+125 bps

Yield to Maturity:

3.238%

Optional Redemption Provisions:

 

Make-Whole Call:

T+20 bps;

Par Call:

Redemption at par plus accrued and unpaid interest on or after October 15, 2029 as set forth in the preliminary pricing supplement

Trade Date:

June 25, 2019

Settlement Date:

July 2, 2019 (T+5); 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 two business days will be required, by virtue of the fact that the notes initially will settle in T+5, to specify alternative settlement arrangements to prevent a failed settlement.

CUSIP:

90265EAQ3

ISIN:

US90265EAQ35

Joint Book-Running Managers:

Wells Fargo Securities, LLC

 

J.P. Morgan Securities LLC

 

Jefferies LLC

Co-Managers:

BofA Securities, Inc.

 

Citigroup Global Markets Inc.

 

Regions Securities LLC

 

U.S. Bancorp Investments, Inc.

 

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 Wells Fargo Securities, LLC toll-free at 1-800-645-3751 or J.P. Morgan Securities LLC collect at 1-212-834-4533.

 

 

 

 

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