Issuer:
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Kimco Realty Corporation
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Ratings*:
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Baa1 (stable) by Moody’s Investors Service, Inc.
BBB+ (stable) by Standard & Poor’s Ratings Services
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Aggregate Principal Amount Offered Hereby:
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$500,000,000
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Pricing Date:
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September 13, 2021
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Settlement Date:
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September 22, 2021 (T+7)
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The settlement date of September 22, 2021 is the seventh business
day following the date of the preliminary prospectus supplement. Pursuant to Rule 15c6-1 under the Securities Exchange Act of 1934, as amended, trades in the secondary market generally are required to settle in two business days, unless the
parties to that trade expressly agree otherwise. Accordingly, purchasers who wish to trade the notes before the second business day prior to the settlement date will be required, by virtue of the fact that the Notes initially will settle on
a delayed basis, to specify an alternate settlement cycle at the time of any such trade to prevent a failed settlement, and should consult their own advisors with respect to these matters.
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Maturity Date:
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December 1, 2031
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Interest Payment Dates:
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June 1 and December 1, commencing on June 1, 2022 (long first coupon)
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Coupon:
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2.250%
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Price to Public:
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99.536% of the principal amount
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Gross Proceeds to Issuer (before expenses):
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$497,680,000
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Use of Proceeds:
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The issuer intends to use the net proceeds from this offering to
for general corporate purposes, including, but not limited to, repayment of borrowings under our Credit Facility, and funding for suitable acquisition and redevelopment opportunities.
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Benchmark Treasury:
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1.250% due August 15, 2031
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Benchmark Treasury Yield:
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1.321%
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Spread to Benchmark Treasury:
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+98 bps
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Yield to Maturity:
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2.301%
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Redemption Provisions:
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Make-whole Call:
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Prior to September 1, 2031, the Notes will be redeemable at the Issuer’s 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+15 bps).
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Par Call:
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At any time on or after September 1, 2031, the Notes will be redeemable at the Issuer’s 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.
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CUSIP / ISIN:
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49446R AY5 / US49446RAY53
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Joint Book-Running Managers:
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BofA Securities, Inc.
PNC Capital Markets LLC
Truist Securities, Inc.
Wells Fargo Securities, LLC
BNP Paribas Securities Corp.
J.P. Morgan Securities LLC
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Senior Co-Managers:
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Citigroup Global Markets Inc.
Morgan Stanley & Co. LLC
Regions Securities LLC
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Co-Managers:
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Barclays Capital Inc.
BMO Capital Markets Corp.
BNY Mellon Capital Markets, LLC
Deutsche Bank Securities Inc.
RBC Capital Markets, LLC
TD Securities (USA) LLC
U.S. Bancorp Investments, Inc.
UBS Securities LLC
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*
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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.
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