Filed Pursuant to Rule 433
Registration No. 333-156132
Registration No. 333-156132
$500,000,000 3.90% Senior Notes due 2020
$750,000,000 5.35% Senior Notes due 2040
$750,000,000 5.35% Senior Notes due 2040
TERM SHEET
October 27, 2010
October 27, 2010
Issuer:
|
The Travelers Companies, Inc. | |||
Securities:
|
3.90% Senior Notes due 2020 | 5.35% Senior Notes due 2040 | ||
| Expected Ratings:* | Moody’s: A2 (stable) / S&P: A- (positive) / Fitch A (stable) | |||
Principal Amount:
|
$500,000,000 | $750,000,000 | ||
CUSIP:
|
89417E AG4 | 89417E AH2 | ||
ISIN:
|
US89417EAG44 | US89417EAH27 | ||
Maturity Date:
|
November 1, 2020 | November 1, 2040 | ||
Public Offering Price:
|
99.910% | 99.379% | ||
Gross Proceeds:
|
$499,550,000 | $745,342,500 | ||
Coupon:
|
3.90% | 5.35% | ||
Benchmark Treasury:
|
2.625% due August 15, 2020 | 4.375% due May 15, 2040 | ||
Benchmark Treasury Yield:
|
2.711% | 4.042% | ||
Re-offer Spread to Treasury:
|
+120 bps | +135 bps | ||
Yield-to-Maturity:
|
3.911% | 5.392% | ||
| Interest Payment Dates: | Semi-annually in arrears November 1 and May 1, commencing May 1, 2011 | |||
Make Whole Call:
|
T+15 bps | T+20 bps | ||
Security Types:
|
Senior Unsecured Notes | |||
Legal Format:
|
SEC Registered | |||
Specified Currency:
|
U.S. Dollars | |||
Trade Date:
|
October 27, 2010 | |||
Settlement Date (T+3):
|
November 1, 2010 | |||
| Authorized Denominations: | $2,000 and integral multiples of $1,000 in excess thereof | |||
Joint Book-Running Managers:
|
Goldman, Sachs & Co. Wells Fargo Securities, LLC Barclays Capital Inc. J.P. Morgan Securities LLC |
|||
Co-Managers:
|
HSBC Securities (USA) Inc. Morgan Stanley & Co. Incorporated UBS Securities LLC |
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The issuer has filed a registration statement (including a prospectus) with the SEC for the
offering to which this communication relates. Before you invest, you should read the prospectus 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 get 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 if you request it by
contacting Goldman, Sachs & Co. toll free at 1-866-471-2526, facsimile: 212-902-9316 or by
emailing prospectus-ny@ny.email.gs.com, Wells Fargo Securities, LLC toll free at 1-800-326-5897 or
by emailing prospectus.specialrequests@wachovia.com, Barclays Capital Inc. toll free at
1-888-603-5847, or J.P. Morgan Securities LLC collect at 1-212-834-4533.
| * | Note: An explanation of the significance of ratings may be obtained from the rating agencies. Generally, rating agencies base their ratings on such material and information, and such of their own investigations, studies and assumptions, as they deem appropriate. The rating of the notes should be evaluated independently from similar ratings of other securities. A credit rating of a security is not a recommendation to buy, sell or hold securities and may be subject to review, revision, suspension, reduction or withdrawal at any time by the assigning rating agency. |