- Free Writing Prospectus - Filing under Securities Act Rules 163/433 (FWP)
October 06 2009 - 5:29PM
Edgar (US Regulatory)
Filed
Pursuant to Rule 433
|
Dated
October 6, 2009
|
Registration
Statement No. 333-151976
|
$300 MILLION 8.45% SENIOR NOTES DUE 2039
Issuer:
|
|
Protective Life
Corporation
|
Ratings*:
|
|
Baa2 (neg) (Moodys)/A-
(stable) (S&P)/BBB (neg) (Fitch)
|
Security Type:
|
|
Senior Unsecured Fixed
Rate Notes
|
Offering Format:
|
|
SEC Registered
|
Principal Amount:
|
|
$300,000,000
|
Issue Price:
|
|
99.986%
|
Gross Spread:
|
|
0.875%
|
Proceeds to Issuer (before
expenses):
|
|
$297,333,000
|
Trade Date:
|
|
October 6, 2009
|
Settlement Date:
|
|
October 9, 2009 (T +
3)
|
Maturity Date:
|
|
October 15, 2039
|
Denominations:
|
|
$2,000 and integral
multiples of $1,000 in excess thereof
|
Coupon:
|
|
8.450%
|
Interest Payment Dates:
|
|
Semi-annually on
October 15 and April 15 of each year, commencing on April 15,
2010
|
Yield to Maturity:
|
|
8.451%
|
Treasury Benchmark:
|
|
4
1
/
4
% due 5/39
|
Treasury Yield:
|
|
4.076%
|
Spread to Treasury Benchmark:
|
|
437.5 basis points
|
Re-offer Yield
|
|
8.451%
|
Optional Redemption:
|
|
At any time, in whole or
in part, until maturity at a discount rate of Treasury plus 50 basis points
|
CUSIP / ISIN:
|
|
743674 AY9 / US743674AY91
|
Joint Book-Running Managers:
|
|
Banc of America Securities
LLC
Barclays Capital Inc.
Wells Fargo Securities,
LLC
|
Co-Managers:
|
|
Morgan Keegan &
Company, Inc.
Protective Securities, A
division of ProEquities, Inc.
U.S. Bancorp
Investments, Inc.
|
*Ratings may be changed,
suspended or withdrawn at any time and are not a recommendation to buy, hold or
sell any security.
The issuer has filed a
registration statement (including a prospectus and a preliminary prospectus
supplement) with the Securities and Exchange Commission for the offering to
which this communication relates. Before
you invest, you should read the prospectus and the preliminary prospectus
supplement in that registration statement and other documents the issuer has
filed with the Securities and Exchange Commission for more complete information
about the issuer and this offering. You
may get these documents for free by visiting EDGAR on the Securities and
Exchange Commissions website 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 Banc of America Securities
LLC, toll-free at (800) 294-1322, Barclays Capital Inc., toll-free at (888)
603-5847, or Wells Fargo Securities, LLC, toll-free at (800) 326-5897.
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