Issuer:
|
CBS Corporation | |
Guarantor:
|
CBS Operations Inc. | |
Securities Offered:
|
8.875% Senior Notes due 2019 | |
Size:
|
$250,000,000 | |
Maturity:
|
May 15th, 2019 | |
Coupon:
|
8.875% | |
Yield to Maturity:
|
9.250% | |
Spread to Benchmark Treasury:
|
T+558.6 basis points | |
Benchmark Treasury:
|
3.125% Notes due May 15th, 2019 | |
Benchmark Treasury Price and
Yield:
|
95-17; 3.664% | |
Price to Public:
|
97.585% of face amount plus accrued interest from and including May 13, 2009 to and excluding the settlement date. | |
Price to CBS:
|
96.935% of face amount plus accrued interest from and including May 13, 2009 to and excluding the settlement date. | |
Interest Payment Dates:
|
Semi annually on May 15th and November 15th commencing November 15th, 2009 | |
Redemption Provision:
|
We may redeem the senior notes, in whole or in part, at any time and from time to time at a redemption price equal to their principal amount plus the applicable premium, if any, and accrued and unpaid interest to the redemption date. The premium will be calculated based on the Reinvestment Rate of 0.75% | |
Trade Date:
|
May 28, 2009 | |
Settlement Date:
|
June 2, 2009 (T+3) | |
Interest Accrual Date:
|
May 13, 2009 | |
Accrued Interest Payable to
the Issuer:
|
$ 1,171,006.94 accrued from and including May 13, 2009 to and excluding the settlement date. | |
Denominations:
|
Minimum of $2,000 principal amount and integral multiples of $1,000 | |
CUSIP:
|
124857AC7 | |
Ratings:*
|
Moody’s Investors Service: Baa3 (stable outlook) | |
| Standard & Poor’s Ratings Services: BBB | ||
| (CreditWatch Negative) | ||
| Fitch Ratings: BBB (stable outlook) | ||
Joint Book-Running Managers:
|
Banc of America Securities LLC | |
| Citigroup Global Markets Inc. | ||
| J.P. Morgan Securities Inc. | ||
| UBS Securities LLC |