Public Storage (PSA): debt financing — Public Storage closes $2.2B senior notes offering across four tranches

completed the previously announced offering of $400 million Floating Rate Senior Notes due 2025

Senior Notes due 2025 (the “Floating Rate Notes”), $500 million 5.125% Senior Notes due 2029 (the “2029 Notes”), $700 million 5.100% Senior Notes due 2033 (the “2033 Notes”) and $600 million 5.350% Senior Notes due 2053 (the “2053 Notes” and, together with the Floating Rate Notes, the 2029 Notes and the 2033 Notes, the “Notes”). The Notes have been issued pursuant to

The Notes have been issued pursuant to an Indenture, dated as of September 18, 2017 (the “Base Indenture”), between the Company, as issuer, and Computershare Trust Company, N.A. (as successor to Wells Fargo Bank, National Association), as trustee (the “Trustee”), as supplemented by the Twelfth Supplemental Indenture, dated as of July 26, 2023, relating to the Floating Rate Notes (the “Twelfth Supplemental Indenture”), the Thirteenth Supplemental Indenture, dated as of July 26, 2023, relating to the 2029 Notes (the “Thirteenth Supplemental Indenture”), the Fourteenth Supplemental Indenture, dated as of July 26, 2023, relating to the 2033 Notes (the “Fourteenth Supplemental Indenture”), and the Fifteenth Supplemental Indenture, dated as of July 26, 2023, relating to the 2053 Notes (the “Fifteenth Supplemental Indenture” and, collectively with the Twelfth Supplemental Indenture, the Thirtee

The Notes have been issued pursuant to an Indenture, dated as of September 18, 2017 (the “Base Indenture”), between the Company, as issuer, and Computershare Trust Company, N.A. (as successor to Wells Fargo Bank, National Association), as trustee (the “Trustee”), as supplemented by the Twelfth Supplemental Indenture, dated as of July 26, 2023, relating to the Floating Rate Notes (the “Twelfth Supplemental Indenture”), the Thirteenth Supplemental Indenture, dated as of July 26, 2023, relating to the 2029 Notes (the “Thirteenth Supplemental Indenture”), the Fourteenth Supplemental Indenture, dated as of July 26, 2023, relating to the 2033 Notes (the “Fourteenth Supplemental Indenture”), and the Fifteenth Supplemental Indenture, dated as of July 26, 2023, relating to the 2053 Notes (the “Fifteenth Supplemental Indenture” and, collectively with the Twelfth Supplemental Indenture, the Thirtee

On July 26, 2023, Public Storage (the “Company”) completed the previously announced offering of $400 million Floating Rate Senior Notes due 2025 (the “Floating Rate Notes”), $500 million 5.125% Senior Notes due 2029 (the “2029 Notes”), $700 million 5.100% Senior Notes due 2033 (the “2033 Notes”) and $600 million 5.350% Senior Notes due 2053 (the “2053 Notes” and, together with the Floating Rate Notes, the 2029 Notes and the 2033 Notes, the “Notes”).