0001567619-17-000568.txt : 20170403 0001567619-17-000568.hdr.sgml : 20170403 20170403151058 ACCESSION NUMBER: 0001567619-17-000568 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20170403 DATE AS OF CHANGE: 20170403 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ESSEX PROPERTY TRUST INC CENTRAL INDEX KEY: 0000920522 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 770369576 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-209886 FILM NUMBER: 17733761 BUSINESS ADDRESS: STREET 1: 1100 PARK PLACE STREET 2: SUITE 200 CITY: SAN MATEO STATE: CA ZIP: 94403 BUSINESS PHONE: 6506557800 MAIL ADDRESS: STREET 1: 1100 PARK PLACE STREET 2: SUITE 200 CITY: SAN MATEO STATE: CA ZIP: 94403 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: ESSEX PORTFOLIO LP CENTRAL INDEX KEY: 0001053059 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 000000000 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: 777 CALIFORNIA AVE CITY: PALO ALTO STATE: CA ZIP: 94304 BUSINESS PHONE: 4154943700 MAIL ADDRESS: STREET 1: 777 CALIFORNIA AVENUE CITY: PALO ALTO STATE: CA ZIP: 94304 FWP 1 s001611x2_fwp.htm FREE WRITING PROSPECTUS
Filed Pursuant to Rule 433
Registration Nos. 333-209886 and 333-209886-01
April 3, 2017
 
Essex Portfolio, L.P.
$350,000,000 3.625% Senior Notes due 2027
fully and unconditionally guaranteed by
 Essex Property Trust, Inc.
 
Issuer:
Essex Portfolio, L.P.
   
Guarantor:
Essex Property Trust, Inc.
   
Principal Amount:
$350,000,000
   
Expected Ratings (Moody’s / S&P / Fitch)*:
Baa1 / BBB+ / BBB+
   
Trade Date:
April 3, 2017
   
Settlement Date:
April 10, 2017 (T+5)
   
Maturity Date:
May 1, 2027
   
Interest Payment Dates:
May 1 and November 1, commencing November 1, 2017
   
Benchmark Treasury:
2.250% due February 15, 2027
   
Benchmark Treasury Price / Yield:
99-05+ / 2.344%
   
Spread to Benchmark Treasury:
+ 135 basis points
   
Yield to Maturity:
3.694%
   
Coupon:
3.625% per annum
   
Price to Public:
99.423% of the Principal Amount, plus accrued interest, if any, from the Settlement Date if settlement occurs after the Settlement Date
   
Optional Redemption Provisions:
Prior to February 1, 2027, make-whole call as set forth in the preliminary prospectus supplement at Treasury + 25 basis points
 
On or after February 1, 2027, the redemption price will be 100% of the principal amount to be redeemed plus accrued and unpaid interest thereon to, but excluding, the redemption date, as set forth in the preliminary prospectus supplement
   
CUSIP / ISIN:
29717P AR8 / US29717PAR82
   
Joint Book-Running Managers:
Wells Fargo Securities, LLC
Citigroup Global Markets Inc.
J.P. Morgan Securities LLC
MUFG Securities Americas Inc.
U.S. Bancorp Investments, Inc.
Jefferies LLC
   
Senior Co-Managers:
Barclays Capital Inc.
BB&T Capital Markets, a division of BB&T Securities, LLC
BNP Paribas Securities Corp.
Deutsche Bank Securities Inc.
 
   
Co-Managers:
Capital One Securities, Inc.
Mizuho Securities USA Inc.
Regions Securities LLC
Scotia Capital (USA) 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 preliminary prospectus supplement and a prospectus) with the U.S. Securities and Exchange Commission (SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus supplement for this offering, the issuer’s prospectus in that registration statement and any 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 searching the SEC online data base (EDGAR) on the SEC web site at http://www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus supplement and prospectus if you request it from (i) Wells Fargo Securities, LLC toll free at 1-800-645-3751, (ii) Citigroup Global Markets Inc. toll free at 1-800-831-9146, (iii) J.P. Morgan Securities LLC collect at 1-212-834-4533, (iv) MUFG Securities Americas Inc. toll free at 1-877-649-6848 or (v) U.S. Bancorp Investments, Inc. toll free at 1-877-558-2607.