Free Writing Prospectus | Filed pursuant to Rule 433 under the Securities Act | |
(To the Preliminary Prospectus | Registration Statement Nos. 333-165052 and | |
Supplement dated April 26, 2010) | 333-165052-01 through 333-165052-88 |
Summary of Terms
Issuer: | Patriot Coal Corporation | |||||
Issue: | Senior Notes | |||||
Distribution: | SEC Registered | |||||
Ratings: | B3 / B+ | |||||
Maturity: | April 30, 2018 | |||||
Principal Amount: | $250,000,000 | |||||
Proceeds: | $248,197,500 | |||||
Coupon: | 8.250% | |||||
Yield: | 8.375% | |||||
Spread: | 497 b.p. | vs. TSY 3.875% due 5/18 | ||||
Price at Issue: | 99.279% | |||||
Interest Payment Dates: | April 30 & October 30 | |||||
1st Interest Payment Date: | October 30, 2010 | |||||
Call Schedule: | Non-Callable until April 30, 2014 | |||||
April 30, 2014 | 104.125% | |||||
April 30, 2015 | 102.063% | |||||
April 30, 2016 | 100.000% | |||||
Equity Clawback: | 35% at 108.250% prior to April 30, 2013 | |||||
Change of Control: | Investor put at 101% | |||||
Make Whole: | T + 50 b.p. | |||||
Denominations: | Minimum denominations of $2,000 and higher integral multiples of $1,000 | |||||
Bookrunners: | Citi, BAML, Barclays | |||||
Co-Managers: | Natixis, Fifth-Third, Société Générale, Santander, PNC | |||||
Trade Date: | April 28, 2010 | |||||
Settlement Date (T + 5): | May 5, 2010 | |||||
CUSIP: | 70336TAC8 | |||||
ISIN#: | US70336TAC80 |
Patriot Coal Corporation has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (“SEC”) for theoffering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents that Patriot Coal Corporation has filed with the SEC for more complete information about Patriot Coal Corporation and this offering. You may get these docu-ments for free by visiting 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 if you request it from Citigroup, Brooklyn Army Terminal, 140 58th Street, 8th floor, Brooklyn, NY 11220 or by calling 718-765-6732; BofA Merrill Lynch toll-free 800-294-1322; Barclays Capital Inc. toll-free 888-6035847.