Filed Pursuant to Rule 433
Issuer Free Writing Prospectus dated September 8, 2011
Relating to Preliminary Prospectus Supplement dated September 8, 2011
Registration No. 333-156251
Issuer Free Writing Prospectus dated September 8, 2011
Relating to Preliminary Prospectus Supplement dated September 8, 2011
Registration No. 333-156251
Associated Banc-Corp
$130,000,000 Re-Opening of 5.125% Senior Notes Due 2016
$130,000,000 Re-Opening of 5.125% Senior Notes Due 2016
Pricing Term Sheet
Issuer: | Associated Banc-Corp | |
Security Ratings*: | Baa1/BBB-/BBB- (Moody’s/Fitch/S&P) | |
Security Type: | Senior Notes | |
Principal Amount: | $130,000,000 (Re-Opening, Total Outstanding to be $430,000,000) | |
Net Proceeds (before expenses and other fees)(1): | $138,317,345.83 | |
Maturity: | March 28, 2016 | |
Coupon: | 5.125% | |
Price to Public: | 104.499% of face amount, plus accrued interest from and including March 28, 2011 | |
Benchmark Treasury: | 1% due August 31, 2016 | |
Benchmark Treasury Price and Yield: | 100-21¼; 0.863% | |
Spread to Benchmark Treasury: | +315 basis points | |
Yield to Maturity: | 4.031% | |
Interest Payment Dates: | March 28 and September 28, commencing September 28, 2011 | |
Redemption Provisions: | ||
Redemption Date / Terms | February 28, 2016 / Redeemable in whole or in part on or after the Redemption Date at 100% of the principal amount of the notes (par), plus accrued and unpaid interest thereon to the date of redemption. Issuer shall provide 10 to 60 calendar days notice of redemption to the registered holder of the notes. | |
Trade Date: | September 8, 2011 | |
Settlement Date: | September 13, 2011 (T+3) | |
CUSIP/ISIN: | 045488 AC7/US045488AC77 | |
Book-Running Manager: | Goldman, Sachs & Co. |
* | 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. | |
(1) | Associated Banc-Corp will also pay to the underwriter a fee of 0.414% per note, and $538,200 in the aggregate. |
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The following table sets forth the following capital ratios on an actual basis as of June 30, 2011 and as adjusted to give effect to this offering.
Actual as of | As adjusted for | |||||||
June 30, 2011 | notes issuance | |||||||
Tier 1 common equity to risk-weighted assets(1) | 12.61 | % | 12.61 | % | ||||
Tier 1 risk-based capital ratio | 16.03 | % | 16.03 | % | ||||
Total risk-based capital ratio | 17.50 | % | 17.50 | % |
(1) | Tier 1 common capital ratio = Tier 1 capital excluding qualifying perpetual preferred stock and qualifying trust preferred securities divided by risk-weighted assets. This is a non-GAAP financial measure. |
The issuer has filed a registration statement (including a preliminary prospectus supplement dated September 8, 2011 and an accompanying prospectus dated December 17, 2008) 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, the accompanying prospectus 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 Web site at www.sec.gov. Alternatively, the issuer, the underwriter or any dealer participating in the offering will arrange to send you the prospectus and prospectus supplement if you request it by calling Goldman, Sachs & Co. at 1-866-471-2526.
Any disclaimer or other notice that may appear below is not applicable to this communication and should be disregarded. Such disclaimer or notice was automatically generated as a result of this communication being sent by Bloomberg or another email system.
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