Filed Pursuant to Rule 433
Issuer Free Writing Prospectus
dated January 30, 2018
Registration No. 333-206514
Supplementing the Preliminary
Prospectus Supplement dated January 30, 2018
and Prospectus dated January 10, 2017
HOSPITALITY PROPERTIES TRUST
This information supplements the information contained in the preliminary prospectus supplement dated January 30, 2018 to the prospectus dated January 10, 2017.
PRICING TERM SHEET
Issuer: |
| Hospitality Properties Trust |
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Security: |
| 4.375% Senior Notes due 2030 (the “Notes”) |
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Ranking: |
| Senior Unsecured |
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Format: |
| SEC Registered |
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Expected Ratings: |
| Baa2 / BBB- (Moody’s / S&P)
A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time. |
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Trade Date: |
| January 30, 2018 |
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Settlement Date: |
| February 2, 2018 (T+3) |
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Principal Amount: |
| $400,000,000 |
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Interest Payment Dates: |
| February 15 and August 15, commencing August 15, 2018 |
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Maturity Date: |
| February 15, 2030 |
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Benchmark Treasury: |
| 2.250% U.S. Treasury due November 15, 2027 |
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Benchmark Treasury Price and Yield: |
| 95-29 / 2.729% |
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Spread to Benchmark Treasury: |
| + 192 basis points |
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Yield to Maturity: |
| 4.649% |
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Coupon (Interest Rate): |
| 4.375% per annum |
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Price to Public: |
| 97.494% of principal amount of the Notes, plus accrued interest, if any, from February 2, 2018 |
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Redemption Provision: |
| Make-whole call at any time based on U.S. Treasury plus 30 basis points. If the notes are redeemed on or after August 15, 2029 (six months prior to the stated maturity of the Notes), the make-whole amount will be zero. |
CUSIP / ISIN: |
| 44106M AY8 / US44106MAY84 |
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Joint Book-Running Managers: |
| Citigroup Global Markets Inc. Merrill Lynch, Pierce, Fenner & Smith Incorporated PNC Capital Markets LLC Regions Securities LLC U.S. Bancorp Investments, Inc. |
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Joint Lead Managers: |
| BBVA Securities Inc. Mizuho Securities USA LLC Morgan Stanley & Co. LLC RBC Capital Markets, LLC SMBC Nikko Securities America, Inc. UBS Securities LLC Wells Fargo Securities, LLC |
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Co-Managers: |
| BB&T Capital Markets, a division of BB&T Securities, LLC |
The issuer has filed a registration statement (including a prospectus dated January 10, 2017 and a preliminary prospectus supplement dated January 30, 2018) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement, the related preliminary prospectus supplement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may obtain 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 preliminary prospectus supplement if you request it by calling Citigroup Global Markets Inc. toll-free at (800) 831-9146, Merrill Lynch, Pierce, Fenner & Smith Incorporated toll-free at (800) 294-1322, PNC Capital Markets LLC toll-free at (855) 881-0697, Regions Securities LLC collect at (404) 279-7400 or U.S. Bancorp Investments, Inc. toll-free at (877) 558-2607.
