Preferred Stock Channel
Washington Prime Group Inc (New) | 6.875% Series I Cumulative Redeemable Preferred Shares (WPG.PRI)

Prospectus excerpt:  We are offering 3,600,000 shares of our 6.875% Series I Cumulative Redeemable Preferred Shares of Beneficial Interest, par value $0.01 per share, which we refer to as the ôSeries I Preferred Sharesö. Cumulative distributions on the Series I Preferred Shares will be payable quarterly on or about the 15th day of January, April, July and October of each year, beginning on July 15, 2013. The distribution rate on the Series I Preferred Shares is 6.875% per annum of the $25.00 per share liquidation preference, which is equivalent to $1.71875 per share per annum. Except as set forth below and as necessary to preserve our status as a real estate investment trust, or ôREITö, for Federal income tax purposes, we may not redeem the Series I Preferred Shares prior to March 27, 2018. On and after March 27, 2018, we may, at our option, redeem the Series I Preferred Shares, in whole or from time to time in part, by paying $25.00 per share, plus any accrued and unpaid distributions to, but not including, the date of redemption.

Full Prospectus PDF », WPG Page »

Series:I
Alternate symbology:WPG-I, WPG-PI, WPGprI
Redeemable?:Yes
Call Date:3/27/2018 (Now Trading Post Call Date)
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:3,600,000
Overallotment:400,000
Liquidation Preference:$25
Original Coupon:6.88%
Pay Period:Quarterly
Pay Dates:15-Jan, 15-Apr, 15-Jul, 15-Oct
CDx3 Compliance Rating: Learn WPG.PRI's Rating
Washington Prime Group operates as a self-administered and self-managed real estate investment trust. Washington Prime Group, L.P. (WPG L.P.) is Co.'s majority-owned limited partnership subsidiary that owns, develops, and manages, through its affiliates, all of Co.'s real estate properties and other assets. Co. is the sole general partner of WPG L.P. Co. owns, develops and manages enclosed retail properties and open air properties. Co.'s assets consist of material interests in shopping centers in the United States.

Preferreds: WPG.PRH, WPG.PRI


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Name:  Washington Prime Group Inc (New)
Website:  www.washingtonprime.com
Sector:  REITs

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