0001193125-11-314504.txt : 20111116 0001193125-11-314504.hdr.sgml : 20111116 20111116172337 ACCESSION NUMBER: 0001193125-11-314504 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20111116 DATE AS OF CHANGE: 20111116 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN GREETINGS CORP CENTRAL INDEX KEY: 0000005133 STANDARD INDUSTRIAL CLASSIFICATION: GREETING CARDS [2771] IRS NUMBER: 340065325 STATE OF INCORPORATION: OH FISCAL YEAR END: 0228 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-177986 FILM NUMBER: 111210908 BUSINESS ADDRESS: STREET 1: ONE AMERICAN ROAD CITY: CLEVELAND STATE: OH ZIP: 44144 BUSINESS PHONE: 2162527300 MAIL ADDRESS: STREET 1: ONE AMERICAN ROAD CITY: CLEVELAND STATE: OH ZIP: 44144 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN GREETINGS CORP CENTRAL INDEX KEY: 0000005133 STANDARD INDUSTRIAL CLASSIFICATION: GREETING CARDS [2771] IRS NUMBER: 340065325 STATE OF INCORPORATION: OH FISCAL YEAR END: 0228 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: ONE AMERICAN ROAD CITY: CLEVELAND STATE: OH ZIP: 44144 BUSINESS PHONE: 2162527300 MAIL ADDRESS: STREET 1: ONE AMERICAN ROAD CITY: CLEVELAND STATE: OH ZIP: 44144 FWP 1 d252474dfwp.htm FWP FWP

Filed pursuant to Rule 433 under the Securities Act of 1933

Registration No. 333-177986

November 16, 2011

American Greetings Corporation

Pricing Term Sheet

$225,000,000 7.375% Senior Notes due 2021

 

Issuer:

    American Greetings Corporation

Distribution:

    SEC Registered

Size:

    $225,000,000

Gross Proceeds:

    $225,000,000

Net Proceeds (before expenses):

    $221,625,000

Maturity:

    December 1, 2021

Coupon:

    7.375%

Price:

    100.000% of principal amount

Yield to maturity:

    7.375%

Spread to Benchmark Treasury:

    +533 basis points

Benchmark Treasury:

    UST 2% due November 15, 2021

Interest Payment Dates:

    December 1 and June 1, commencing June 1, 2012. Interest will accrue from November 30, 2011.

Redemption Provisions:

   

Make-whole call:

    Prior to December 1, 2016, at a discount rate of Treasury plus 50 basis points

Optional Redemption:

   

On or after December 1, 2016, at the following redemption prices:

Commencing December 1, 2016: 103.688%

Commencing December 1, 2017: 102.458%

Commencing December 1, 2018: 101.229%

Commencing December 1, 2019: 100%

Redemption of 10% per 12 months:

    No longer applicable

Redemption with proceeds of equity offering:

    Prior to December 1, 2014, up to 35% may be redeemed at 107.375%

Trade Date:

    November 16, 2011

Settlement:

    T+9; November 30, 2011

CUSIP:

    026375 AP0

ISIN:

    US026375AP03

Ratings (Moody’s/S&P):

    Ba2/BB+

Joint Book-Running Managers:

   

J.P. Morgan Securities LLC

Merrill Lynch, Pierce, Fenner & Smith Incorporated

Joint Lead Manager:

    KeyBanc Capital Markets Inc.

Co-Managers:

   

PNC Capital Markets LLC

Scotia Capital (USA) Inc.

Mitsubishi UFJ Securities (USA), Inc.

RBS 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 prospectus) and a preliminary prospectus supplement 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 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 and the preliminary prospectus supplement if you request them by calling J.P. Morgan Securities LLC toll-free at 1-800-245-8812 or BofA Merrill Lynch toll-free at 1-800-294-1322.