Final Term Sheet
Filed Pursuant to Rule 433
Registration Statement No.
333-163895
333-163895-01
October 13, 2010
POST APARTMENT HOMES, L.P.
Pricing Term Sheet
$150,000,000 4.75% Senior Notes due 2017
| Issuer: |
Post Apartment Homes, L.P. | |
| Ratings: (Moody’s / S&P)* |
Baa3 / BBB- (stable / stable) | |
| Security Type: |
Senior Unsecured Notes | |
| Pricing Date: |
October 13, 2010 | |
| Settlement Date: |
October 18, 2010 | |
| Maturity Date: |
October 15, 2017 | |
| Principal Amount: |
$150,000,000 | |
| Benchmark: |
1.875% due September 30, 2017 | |
| Benchmark Price / Yield: |
100-21 / 1.774% | |
| Spread to Benchmark: |
+ 300 bps | |
| Yield to Maturity: |
4.774% | |
| Coupon: |
4.75% | |
| Public Offering Price: |
99.859% | |
| Proceeds to the Issuer (before expenses): |
$148,851,000 | |
| Optional Redemption: |
Any time prior to July 15, 2017, the notes may be redeemed at T + 45 bps; At any time on or after July 15, 2017, the notes may be redeemed at par | |
| Interest Payment Dates: |
April 15 and October 15 , beginning April 15, 2011 | |
| CUSIP / ISIN: |
737415AK5 / US737415AK51 | |
| Joint Book-Running Managers: |
J.P. Morgan Securities LLC Wells Fargo Securities, LLC Deutsche Bank Securities Inc. | |
| Co-Managers: |
Morgan Keegan & Company, Inc. PNC Capital Markets LLC SunTrust Robinson Humphrey, Inc. U.S. Bancorp Investments, Inc. Daiwa Capital Markets America Inc. Mitsubishi UFJ Securities (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) and a prospectus supplement 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 by J.P. Morgan Securities LLC collect at (212) 834-4533 or Wells Fargo Securities, LLC toll-free at 1-800-326-5897.