Filing by Certain Investment Companies of Rule 482 Advertising in Accordance With Rule 497 and the Note to Rule 482(e) (497ad)
June 18 2020 - 06:02AM
Edgar (US Regulatory)
Filed
Pursuant to 497(a)
File
No. 333-227116
Rule
482ad
Saratoga
Investment Corp.
7.25%
Notes Due 2025
Final
Pricing Term Sheet
June
17, 2020
Issuer:
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|
Saratoga
Investment Corp.
|
|
|
|
Title
of the Securities:
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|
7.25%
Notes due 2025 (the “Notes”)
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Private
Rating:
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Egan-Jones
Ratings Company: BBB
|
Initial
Aggregate Principal Amount Being Offered:
|
|
$37,500,000
|
Option
to Purchase Additional Notes:
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Up
to an additional $5,625,000 aggregate principal amount of Notes within 30 days
|
Underwriting
Discount:
|
|
$0.78125
per Note; $1,171,875 total (assuming the over-allotment option is not exercised)
|
Net
Proceeds to the Issuer, before Expenses:
|
|
$24.21875
per Note; $36,328,125 total (assuming the over-allotment option is not exercised)
|
Initial
Public Offering Price:
|
|
100%
of aggregate principal amount
|
Denominations:
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|
Issue
the Notes in denominations of $25.000 and integral multiples of $25.000 in excess thereof
|
Principal
at Time of Payment:
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|
100%
of the aggregate principal amount; the principal amount of each Note will be payable on its stated maturity date.
|
Type
of Note:
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|
Fixed
rate note
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Coupon
Rate:
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|
7.25%
per annum
|
Day
Count:
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30/360
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Original
Issue Date:
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June
24, 2020
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Stated
Maturity Date:
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|
June
30, 2025
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Date
Interest Starts Accruing:
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|
June
24, 2020
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Interest
Payment Date:
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|
Every
February 28, May 31, August 31 and November 30, beginning August 31, 2020. If an interest payment date falls on a non-business
day, the applicable interest payment will be made on the next business day and no additional interest will accrue as a result
of such delayed payment.
|
Interest
Periods:
|
|
The
initial interest period will be the period from and including June 24, 2020, to, but excluding, the initial interest payment
date, and the subsequent interest periods will be the periods from and including an interest payment date to, but excluding,
the next interest payment date or the stated maturity date, as the case may be.
|
Regular
Record Dates for Interest:
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|
February
15, May 15, August 15 and November 15, beginning August 15, 2020
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Optional
Redemption:
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|
The
Notes may be redeemed in whole or in part at any time or from time to time at Issuer’s option on or after June 24, 2022
upon not less than 30 days nor more than 60 days written notice by mail prior to the date fixed for redemption thereof,
at a redemption price of 100% of the outstanding principal amount of the Notes to be redeemed plus accrued and unpaid interest
payments otherwise payable thereon for the then-current quarterly interest period accrued to the date fixed for redemption.
|
Repayment
at Option of Holders:
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|
Holders
will not have the option to have the Notes repaid prior to the stated maturity date.
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Listing:
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|
Issuer
intends to list the Notes on the New York Stock Exchange, within 30 days of the original issue date under the trading
symbol "SAC."
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CUSIP
/ ISIN:
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80349A
604/US80349A6074
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Joint
Book-Running Managers:
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Ladenburg
Thalmann & Co. Inc.
Janney
Montgomery Scott
BB&T
Capital Markets
B.
Riley FBR
Compass
Point
|
The
issuer has filed a registration statement (including a prospectus and related prospectus supplement) with the U.S. Securities
and Exchange Commission (SEC) for this offering.
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