FWP 1 y87235afwp.htm FWP fwp
Filed Pursuant to Rule 433
Registration No. 333-156132
(TRAVELERS LOGO)
$500,000,000 3.90% Senior Notes due 2020
$750,000,000 5.35% Senior Notes due 2040
TERM SHEET
October 27, 2010
         
Issuer:
  The Travelers Companies, Inc.    
 
        
Securities:
  3.90% Senior Notes due 2020   5.35% Senior Notes due 2040
 
        
Expected Ratings:*   Moody’s: A2 (stable) / S&P: A- (positive) / Fitch A (stable)
 
        
Principal Amount:
  $500,000,000   $750,000,000
 
        
CUSIP:
  89417E AG4   89417E AH2
 
        
ISIN:
  US89417EAG44   US89417EAH27
 
        
Maturity Date:
  November 1, 2020   November 1, 2040
 
        
Public Offering Price:
  99.910%   99.379%
 
        
Gross Proceeds:
  $499,550,000   $745,342,500
 
        
Coupon:
  3.90%   5.35%
 
        
Benchmark Treasury:
  2.625% due August 15, 2020   4.375% due May 15, 2040
 
        
Benchmark Treasury Yield:
  2.711%   4.042%
 
        
Re-offer Spread to Treasury:
  +120 bps   +135 bps
 
        
Yield-to-Maturity:
  3.911%   5.392%
 
        
Interest Payment Dates:   Semi-annually in arrears November 1 and May 1, commencing May 1, 2011
 
        
Make Whole Call:
  T+15 bps   T+20 bps
 
        
Security Types:
  Senior Unsecured Notes    
 
        
Legal Format:
  SEC Registered    
 
        
Specified Currency:
  U.S. Dollars    
 
        
Trade Date:
  October 27, 2010    
 
        
Settlement Date (T+3):
  November 1, 2010    
 
        
Authorized Denominations:   $2,000 and integral multiples of $1,000 in excess thereof
 
        
Joint Book-Running Managers:
  Goldman, Sachs & Co.
Wells Fargo Securities, LLC
Barclays Capital Inc.
J.P. Morgan Securities LLC		    
 
        
Co-Managers:
  HSBC Securities (USA) Inc.
Morgan Stanley & Co. Incorporated
UBS Securities LLC		    
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 Goldman, Sachs & Co. toll free at 1-866-471-2526, facsimile: 212-902-9316 or by emailing prospectus-ny@ny.email.gs.com, Wells Fargo Securities, LLC toll free at 1-800-326-5897 or by emailing prospectus.specialrequests@wachovia.com, Barclays Capital Inc. toll free at 1-888-603-5847, or J.P. Morgan Securities LLC collect at 1-212-834-4533.
 
*   Note: An explanation of the significance of ratings may be obtained from the rating agencies. Generally, rating agencies base their ratings on such material and information, and such of their own investigations, studies and assumptions, as they deem appropriate. The rating of the notes should be evaluated independently from similar ratings of other securities. A credit rating of a security is not a recommendation to buy, sell or hold securities and may be subject to review, revision, suspension, reduction or withdrawal at any time by the assigning rating agency.