0001193125-11-225629.txt : 20110817 0001193125-11-225629.hdr.sgml : 20110817 20110817172901 ACCESSION NUMBER: 0001193125-11-225629 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20110817 DATE AS OF CHANGE: 20110817 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PROGRESSIVE CORP/OH/ CENTRAL INDEX KEY: 0000080661 STANDARD INDUSTRIAL CLASSIFICATION: FIRE, MARINE & CASUALTY INSURANCE [6331] IRS NUMBER: 340963169 STATE OF INCORPORATION: OH FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-176358 FILM NUMBER: 111043225 BUSINESS ADDRESS: STREET 1: 6300 WILSON MILLS RD CITY: MAYFIELD VILLAGE STATE: OH ZIP: 44143 BUSINESS PHONE: 4404615000 MAIL ADDRESS: STREET 1: 6300 WILSON MILLS RD CITY: MAYFIELD VILLAGE STATE: OH ZIP: 44143 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: PROGRESSIVE CORP/OH/ CENTRAL INDEX KEY: 0000080661 STANDARD INDUSTRIAL CLASSIFICATION: FIRE, MARINE & CASUALTY INSURANCE [6331] IRS NUMBER: 340963169 STATE OF INCORPORATION: OH FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: 6300 WILSON MILLS RD CITY: MAYFIELD VILLAGE STATE: OH ZIP: 44143 BUSINESS PHONE: 4404615000 MAIL ADDRESS: STREET 1: 6300 WILSON MILLS RD CITY: MAYFIELD VILLAGE STATE: OH ZIP: 44143 FWP 1 dfwp.htm FWP FWP

Filed Pursuant to Rule 433

Registration No. 333-176358

LOGO

The Progressive Corporation

$500,000,000

3.750% SENIOR NOTES DUE 2021

 

Issuer:    The Progressive Corporation
Format:    SEC Registered
Securities:    3.750% Notes Due August 23, 2021
Expected Ratings (Moody’s / S&P / Fitch)*:    A1 / A+ / A (stable/stable/stable)
Security Type:    Senior Unsecured Fixed Rate Notes
Trade Date:    August 17, 2011
Settlement Date:    August 22, 2011
Maturity Date:    August 23, 2021
Principal Amount:    $500,000,000
Price to Public:    99.892% of principal amount
Gross Underwriting Discount:    0.500%
Proceeds to Issuer Before Expenses:    $496,960,000
Spread to Treasury Benchmark:    160 basis points
Treasury Benchmark:    2.125% due August 15, 2021
Treasury Benchmark Yield:    2.163%
Coupon:    3.750%
Yield to Maturity:    3.763%
Interest Payment Dates:    Semi-annually on February 23 and August 23, commencing February 23, 2012
Optional Redemption:    Make whole call as set forth in the preliminary prospectus supplement (Treasury Rate plus 30 basis points).
Minimum Denomination:    Minimum of $2,000, with increments of $1,000 thereafter
CUSIP/ISIN:    743315 AN3 / US743315AN32
Sole Bookrunner:    Credit Suisse

 

* 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 contacting Credit Suisse Securities (USA) LLC toll-free at 1-800-221-1037.

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