0001193125-14-013289.txt : 20140116 0001193125-14-013289.hdr.sgml : 20140116 20140116165834 ACCESSION NUMBER: 0001193125-14-013289 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20140116 DATE AS OF CHANGE: 20140116 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: LEGG MASON, INC. CENTRAL INDEX KEY: 0000704051 STANDARD INDUSTRIAL CLASSIFICATION: INVESTMENT ADVICE [6282] IRS NUMBER: 521200960 STATE OF INCORPORATION: MD FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-193321 FILM NUMBER: 14532576 BUSINESS ADDRESS: STREET 1: 100 INTERNATIONAL DRIVE CITY: BALTIMORE STATE: MD ZIP: 21202 BUSINESS PHONE: 4105390000 MAIL ADDRESS: STREET 1: 100 INTERNATIONAL DRIVE CITY: BALTIMORE STATE: MD ZIP: 21202 FORMER COMPANY: FORMER CONFORMED NAME: LEGG MASON INC DATE OF NAME CHANGE: 19920703 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: LEGG MASON, INC. CENTRAL INDEX KEY: 0000704051 STANDARD INDUSTRIAL CLASSIFICATION: INVESTMENT ADVICE [6282] IRS NUMBER: 521200960 STATE OF INCORPORATION: MD FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: 100 INTERNATIONAL DRIVE CITY: BALTIMORE STATE: MD ZIP: 21202 BUSINESS PHONE: 4105390000 MAIL ADDRESS: STREET 1: 100 INTERNATIONAL DRIVE CITY: BALTIMORE STATE: MD ZIP: 21202 FORMER COMPANY: FORMER CONFORMED NAME: LEGG MASON INC DATE OF NAME CHANGE: 19920703 FWP 1 d659116dfwp.htm FWP FWP
Term Sheet    Term Sheet to Prospectus Supplement

To prospectus dated January 13, 2014 and

prospectus supplement dated January 16, 2014

   

Registration Statement No. 333-193321

Dated January 16, 2014

Filed Pursuant to Rule 433

5.625% Senior Notes due 2044

Legg Mason, Inc.

 

Issuer:   Legg Mason, Inc.
Security:   5.625% Senior Notes due 2044
Offering Format:   SEC-registered
Trade Date:   January 16, 2014
Settlement Date:   January 22, 2014 (T+3)
Size:   $400,000,000
Maturity:   January 15, 2044
Interest Payment Dates:   January 15 and July 15, commencing July 15, 2014
Denominations:   $2,000 and increments of $1,000
Benchmark Treasury:   3.625% due August 15, 2043
Benchmark Treasury Price / Yield:   97-05+ / 3.785%
Spread to Benchmark Treasury:   T + 195 basis points
Yield:   5.735%
Coupon:   5.625%
Price to Public:   98.435%
Net Proceeds to Issuer (before expenses):   $390,240,000
Make-Whole Call:   T + 30 basis points
Day Count Convention:   30/360, Unadjusted
CUSIP / ISIN:   524901AR6 / US524901AR65
Expected Ratings*:   Moody’s: Baa1 (Stable) / S&P: BBB (Positive)
Joint Book-Running Managers:  

J.P. Morgan Securities LLC

Citigroup Global Markets Inc.

Senior Co-Managers:  

Goldman, Sachs & Co.

Merrill Lynch, Pierce, Fenner & Smith Incorporated Morgan Stanley & Co. LLC

Co-Managers:  

Barclays Capital Inc.

BNY Mellon Capital Markets, LLC

HSBC Securities (USA) Inc.

RBC Capital Markets, LLC

UBS Securities LLC

Wells Fargo Securities, LLC

*Note: A securities rating is not a recommendation to buy, sell or hold securities and may be revised or withdrawn at any time.

The information in this pricing term sheet supplements the preliminary prospectus dated January 16, 2014 (the “Preliminary Prospectus”) and updates and supersedes the information in the Preliminary Prospectus to the extent it is inconsistent with the information in the Preliminary Prospectus. For more complete information about the offering, you should review the Preliminary Prospectus. Terms used and not defined herein have the meanings assigned in the Preliminary Prospectus.

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 Joint Book-Running Managers in the offering will arrange to send you the prospectus if you request it by contacting J.P. Morgan Securities LLC collect at (212) 834-4533 or Citigroup Global Markets Inc. at (800) 831-9146.

This pricing term sheet does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction to any person to whom it is unlawful to make such offer or solicitation in such jurisdiction.

 

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