Filed pursuant to Rule 433
March 22, 2017
Relating to
Preliminary Prospectus Supplement dated March 22, 2017 to
Prospectus dated February 27, 2015
Registration Statement No. 333-202389
Kimco Realty Corporation
Pricing Term Sheet
Issuer: | Kimco Realty Corporation |
Ratings*: | Baa1 (stable) by Moodys Investors Service, Inc. and BBB+ (stable) by Standard & Poors Ratings Services |
Aggregate Principal Amount Offered Hereby: | $400,000,000 |
Pricing Date: | March 22, 2017 |
Settlement Date: | March 30, 2017 (T+6) |
Maturity Date: | April 1, 2027 |
Interest Payment Dates: | April 1 and October 1, commencing on October 1, 2017 |
Coupon: | 3.800% |
Price to Public: | 99.637% of the principal amount |
Proceeds to Issuer (before expenses and the underwriting discount): | $398,548,000 |
Benchmark Treasury: | 2.250% due February 15, 2027 |
Benchmark Treasury Yield: | 2.394% |
Spread to Benchmark Treasury: | +145 bps |
Yield to Maturity: | 3.844% |
Redemption Provisions: |
|
Make-whole Call: | Prior to January 1, 2027, the Notes will be redeemable at the Issuers option, at a redemption price equal to the sum of (1) an amount equal to 100% of the principal amount of the Notes to be redeemed plus accrued and unpaid interest thereon to, but not including, the redemption date and (2) a make-whole premium (T+25 bps). |
Par Call: | At any time on or after January 1, 2027, the Notes will be redeemable at the Issuers option, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed plus accrued and unpaid interest thereon to, but not including, the redemption date. |
CUSIP / ISIN: | 49446R AS8/US49446RAS85 |
Joint Book-Running Managers: | Barclays Capital Inc. Deutsche Bank Securities Inc. J.P. Morgan Securities LLC Citigroup Global Markets Inc. Morgan Stanley & Co. LLC U.S. Bancorp Investments, Inc. |
Senior Co-Managers: | Mizuho Securities USA Inc. TD Securities (USA) LLC |
Co-Managers: | BB&T Capital Markets, a division of BB&T Securities, LLC BNY Mellon Capital Markets, LLC CIBC World Markets Corp. PNC Capital Markets LLC Regions Securities LLC Scotia Capital (USA) Inc. SunTrust Robinson Humphrey, Inc. UBS Securities LLC |
* Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal by the assigning rating organization at any time.
The Issuer has filed a registration statement (including a prospectus dated February 27, 2015 as supplemented by a preliminary prospectus supplement dated March 22, 2017) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus and preliminary prospectus supplement in that registration statement, this communication 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, you may request the prospectus and preliminary prospectus supplement by calling Barclays Capital Inc. at 1-888-603-5847 or by emailing barclaysprospectus@broadridge.com, Deutsche Bank Securities Inc. toll free at 1-800-503-4611 and J.P. Morgan Securities LLC collect at 1-212-834-4533.