Filed Pursuant to Rule 433
Issuer Free Writing Prospectus
dated August 7, 2009
Registration No. 333-137073
Supplementing the Preliminary
Prospectus dated August 7, 2009
and Prospectus dated September 1, 2006
HOSPITALITY PROPERTIES TRUST
This information supplements the information contained in the preliminary prospectus
supplement dated August 7, 2009 to the Prospectus dated September 1, 2006.
PRICING TERM SHEET
| Issuer: | Hospitality Properties Trust | |||
Security: |
7.875% Senior Notes due 2014 |
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Ranking: |
Senior Unsecured Notes |
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Format: |
SEC Registered |
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Expected Ratings (Moody's / S&P): |
Baa2 (negative) / BBB (negative) |
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Trade Date: |
August 7, 2009 |
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Settlement Date: |
T+3; August 12, 2009 |
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Interest Payment Dates: |
February 15 and August 15, commencing February 15, 2010 |
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Size: |
$300,000,000 |
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Maturity: |
August 15, 2014 |
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Benchmark Treasury: |
2.625% U.S. Treasury due July 31, 2014 |
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Benchmark Treasury Price and Yield: |
99-03 / 2.822% |
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Spread to Benchmark Treasury: |
+530.3 basis points |
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Yield to Maturity: |
8.125% |
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Coupon (Interest Rate): |
7.875% per annum |
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Price to Public: |
98.987% of principal amount, plus accrued interest from August 12, 2009 |
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Net Proceeds: |
$295,161,000 (before other expenses associated with the transaction) |
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Redemption Provision: |
Make-whole call at any time based on U.S. Treasury plus 50 basis points. If the notes are redeemed on or after February 15, 2014, the redemption price will not include a make-whole amount. |
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CUSIP / ISIN: |
44106M AP7 / US44106MAP77 |
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Joint Book-Running Managers: |
Banc of America Securities LLC |
$90,025,000 |
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UBS Securities LLC |
45,000,000 |
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Wells Fargo Securities, LLC |
45,000,000 |
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| Joint Lead Managers: | Citigroup Global Markets Inc. | 22,500,000 | ||
Morgan Keegan & Company, Inc. |
22,500,000 |
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Morgan Stanley & Co. Incorporated |
22,500,000 |
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RBC Capital Markets Corporation |
22,500,000 |
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Co-Managers: |
BMO Capital Markets Corp. |
2,725,000 |
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BNY Mellon Capital Markets, LLC |
2,725,000 |
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Calyon Securities (USA) Inc. |
2,725,000 |
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Comerica Securities, Inc. |
2,725,000 |
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Deutsche Bank Securities Inc. |
2,725,000 |
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Daiwa Securities America Inc. |
2,725,000 |
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Jefferies & Company, Inc. |
2,725,000 |
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PNC Capital Markets LLC |
2,725,000 |
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RBS Securities Inc. |
2,725,000 |
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SunTrust Robinson Humphrey, Inc. |
2,725,000 |
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U.S. Bancorp Investments, Inc. |
2,725,000 |
This communication is intended for the sole use of the person to whom it is provided by the issuer.
The issuer has filed a registration statement (including a preliminary prospectus supplement and a related prospectus) with the Securities and Exchange Commission, or SEC, for the offering to which this communication relates. Before you invest, you should read the preliminary prospectus supplement and the related 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 or any underwriter participating in the offering will arrange to send you the prospectus supplement and related prospectus if you request it by calling Banc of America Securities, LLC toll-free at 1-800-294-1322, UBS Securities LLC toll-free at 1-877-827-6444, extension 561-3884 or Wells Fargo Securities, LLC toll-free at 1-800-326-5897.
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