Filed Pursuant to Rule 433
File No. 333-178800
Pricing Term Sheet
CBRE Services, Inc.
$300,000,000 5.25% Senior Notes due 2025
September 23, 2014
The following information supplements the Preliminary Prospectus Supplement dated September 23, 2014 filed pursuant to Rule 433, Registration Statement No. 333-178800.
| Issuer: | CBRE Services, Inc. (the “Issuer”) | |
| Title of Securities: | 5.25% Senior Notes due 2025 (the “Notes”) | |
| Principal Amount: | $300,000,000 | |
| Gross Proceeds: | $300,000,000 | |
| Net Proceeds to Issuer (before expenses): | $297,000,000 | |
| Final Maturity Date: | March 15, 2025 | |
| Issue Price: | 100% | |
| Coupon: | 5.25% | |
| Yield to Maturity: | 5.25% | |
| Spread to Treasury: | + 276 basis points | |
| Benchmark: | UST 7.625% due February 15, 2025 | |
| Interest Payment Dates: | March 15 and September 15 | |
| First Interest Payment Date: | March 15, 2015 | |
| Record Dates: | March 1 and September 1 | |
| Optional Redemption: | From and after December 15, 2024, the Issuer will be entitled, at the Issuer’s option, to redeem all or a portion of the Notes at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the date of redemption. | |
| Make-Whole Premium: | Prior to December 15, 2024, the Issuer will be entitled, at the Issuer’s option, to redeem all or a portion of the Notes at a redemption price equal to the greater of (1) 100% of the principal amount of the Notes to be redeemed and (2) the sum of the present values of the remaining scheduled payments of principal and interest thereon to December 15, 2024 (not including any portions of payments of interest accrued as of the date of redemption) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury Rate (T+50 basis points). In the case of each of clause (1) and (2), accrued and unpaid interest, if any, will be payable to, but excluding, the date of redemption. | |
| Joint Book-Running Managers: | J.P. Morgan Securities LLC | |
| Credit Suisse Securities (USA) LLC | ||
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | ||
| HSBC Securities (USA) Inc. | ||
| Wells Fargo Securities, LLC | ||
| Scotia Capital (USA) Inc. | ||
| RBS Securities Inc. | ||
| Barclays Capital Inc. | ||
| Co-Managers: | Mitsubishi UFJ Securities (USA), Inc. | |
| BNY Mellon Capital Markets, LLC | ||
| ANZ Securities, Inc. | ||
| Comerica Securities, Inc. | ||
| Trade Date: | September 23, 2014 | |
| Settlement Date: | September 26, 2014 (T+3) | |
| CUSIP/ISIN Numbers: | 12505B AC4 / US12505BAC46 | |
| Trustee for the Notes: | Wells Fargo Bank, National Association | |
The Issuer has filed a registration statement including a prospectus and a prospectus supplement with the Securities and Exchange Commission (the “SEC”) for the offering to which this communication relates. Before you invest, you should read the prospectus and prospectus supplement in that registration statement 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, copies may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, or by calling 1-866-803-9204.