Filed Pursuant to Rule 433
Dated September 23, 2010
Registration No. 333-160664
Relating to Preliminary Prospectus
Supplement dated September 23, 2010
and Prospectus dated July 17, 2020
PRICING TERM SHEET
4.950% Senior Notes due October 1, 2020
| Issuer: | Washington Real Estate Investment Trust | |
| Legal Format: | SEC Registered | |
| Security: | 4.950 % Senior Notes due October 1, 2020 | |
| Size: | $250,000,000 | |
| Expected Ratings (Moody’s/S&P)*: | Baa1 (Negative outlook) / BBB+ (Stable outlook) | |
| Maturity Date: | October 1, 2020 | |
| Coupon (Interest Rate): | 4.950% | |
| Interest Payment Dates: | October 1 and April 1, commencing April 1, 2011 | |
| Price to Public: | 99.199% of the principal amount plus accrued interest, if any, from September 30, 2010 | |
| Net Proceeds to Issuer (before expenses): | $246,372,500 | |
| Benchmark Treasury: | 2.625% due August 15, 2020 | |
| Benchmark Treasury Price and Yield: | 100-20 / 2.553% | |
| Spread to Benchmark Treasury: | +250 basis points | |
| Yield to Maturity: | 5.053% | |
| Redemption Provision: | Make-whole call at any time based on U.S. Treasury plus 40 basis points or at par on or after April 1, 2020 | |
| Trade Date: | September 23, 2010 | |
| Expected Settlement Date: | T + 5; September 30, 2010 | |
| CUSIP/ISIN: | 939653 AL5 / US939653 AL53 | |
| Joint Book-Running Managers: | Citigroup Global Markets Inc. Wells Fargo Securities, LLC | |
| Senior Co-Managers: | Credit Suisse Securities (USA) LLC J.P. Morgan Securities, Inc. Raymond James & Associates, Inc. | |
| Junior Co-Managers: | BNY Mellon Capital Markets, LLC Morgan Keegan & Company, Inc. RBC Capital Markets Corporation RBS Securities Inc. Robert W. Baird & Co. Incorporated SunTrust Robinson Humphrey, Inc. U.S. Bancorp Investments, 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. |
Washington Real Estate Investment Trust has filed a registration statement (including a prospectus and a preliminary prospectus supplement) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus and the preliminary prospectus supplement in that registration statement and other documents Washington Real Estate Investment Trust 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, any underwriter or any dealer participating in the offering will arrange to send you the prospectus and the preliminary prospectus supplement if you request it by calling Citigroup Global Markets Inc. toll free at 1-877-858-5407 or Wells Fargo Securities, LLC toll free at 1-800-326-5897.