4.000% Medium-Term Notes due 2025 | |
Issuer: | UDR, Inc. |
Security: | 4.000% Medium-Term Notes due 2025 |
Guarantee: | Fully and unconditionally guaranteed by United Dominion Realty, L.P. |
Size: | $300,000,000 |
Maturity Date: | October 1, 2025 |
Coupon: | 4.000% |
Interest Payment Dates: | April 1 and October 1, commencing April 1, 2016 |
Price to Public: | 99.770% plus accrued interest from September 22, 2015 |
Denominations: | $1,000 and integral multiples of $1,000 |
Benchmark Treasury: | 2.000% due August 15, 2025 |
Benchmark Treasury Price/Yield: | 97-23 / 2.258% |
Spread to Benchmark Treasury: | T+177 bps |
Yield: | 4.028% |
Make-Whole Call: | T+30 bps; redemption at par plus accrued and unpaid interest on or after July 1, 2025 as set forth in the preliminary pricing supplement |
Trade Date: | September 15, 2015 |
Settlement Date: | September 22, 2015 (T+5); since trades in the secondary market generally settle in three business days, purchasers who wish to trade notes on the date hereof or the next succeeding business day will be required, by virtue of the fact that the notes initially settle in T+5, to specify alternative settlement arrangements to prevent a failed settlement |
CUSIP: | 90265EAK6 |
ISIN: | US90265EAK64 |
Joint Book-Running Managers: | J.P. Morgan Securities LLC |
Morgan Stanley & Co. LLC | |
Merrill Lynch, Pierce, Fenner & Smith Incorporated | |
Wells Fargo Securities, LLC | |
Co-Managers: | Credit Suisse Securities (USA) LLC |
PNC Capital Markets LLC | |
Regions Securities LLC | |
U.S. Bancorp Investments, Inc. | |