Free Writing Prospectus

Filed Pursuant to Rule 433

Dated May 6, 2013

Registration Statement No. 333-181236

Relating to

Preliminary Prospectus Supplement Dated May 6, 2013 to

Prospectus dated May 8, 2012

Federal Realty Investment Trust

2.75% Notes due 2023

Term sheet dated May 6, 2013


Issuer:    Federal Realty Investment Trust
Security:    2.75% Notes due 2023
Expected Ratings*:    Baa1/A-/A-
(Moody’s / S&P / Fitch)   
Aggregate Principal Amount:    $275,000,000
Trade Date:    May 6, 2013
Settlement Date:    May 9, 2013 (T+3)
Maturity Date:    June 1, 2023
Interest Payment Dates:    June 1 and December 1, beginning on December 1, 2013
Benchmark Treasury:    2.00% UST due February 15, 2023
Benchmark Treasury Price / Yield:    102-00+ / 1.774%
Spread to Benchmark Treasury:    +112 basis points
Yield to Maturity:    2.894%
Coupon (Interest Rate):    2.75% per year
Price to Public:    98.749% of principal amount, plus accrued interest, if any, from the Settlement Date
Redemption Provision:    At any time before 90 days prior to the maturity date, make-whole call based on U.S. Treasury plus 20 basis points (0.20%); if redeemed on or after 90 days prior to the maturity date, at 100% of the principal amount of the notes being redeemed, in each case plus accrued and unpaid interest thereon to, but excluding, the redemption date

CUSIP/ISIN:    313747AT4 / US313747AT44
Joint Book-Running Managers:    Wells Fargo Securities, LLC
   Merrill Lynch, Pierce, Fenner & Smith
Joint Lead Managers:    Deutsche Bank Securities Inc.
   PNC Capital Markets LLC
   U.S. Bancorp Investments, Inc.
Sr. Co-Managers:    Citigroup Global Markets Inc.
   J.P. Morgan Securities LLC
   RBC Capital Markets, LLC
Co-Managers:    Capital One Southcoast, Inc.
   Regions Securities LLC
   SunTrust Robinson Humphrey, Inc.
   TD Securities (USA) LLC


* 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 Securities and Exchange Commission (the “SEC”) for the offering to which this communication relates. Before you invest, you should read the preliminary prospectus supplement and 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’s web site at Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the preliminary prospectus supplement and the prospectus if you request it by calling Wells Fargo Securities, LLC toll-free at 1-800-326-5897 or Merrill Lynch, Pierce, Fenner & Smith Incorporated toll-free at 1-800-294-1322.

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