---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-092182"
form_type: "8-K"
ticker: "PSA"
cik: "0001393311"
company_name: "Public Storage"
filed_at: "2024-04-11T23:59:59+00:00"
generated_at: "2026-06-03T23:58:41.819341+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Public Storage subsidiary PSOC to issue $1.0B senior notes in two tranches

## Summary
- PSOC to issue $700M floating rate senior notes due 2027 at SOFR+70bps, 100% of par.
- PSOC to issue $300M additional 5.350% senior notes due 2053 at 98.249% of par.
- Notes are guaranteed by Public Storage; expected closing April 16, 2024.
- Net proceeds to repay $700M floating rate notes due 2024 and for general corporate purposes.

## SEC filing metadata
- accession: 0001193125-24-092182
- form_type: 8-K
- ticker: PSA
- cik: 0001393311
- company_name: Public Storage
- filed_at: 2024-04-11T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1393311/000119312524092182/0001193125-24-092182-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1393311/000119312524092182/d819345d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-092182
- JSON: https://secwatch.observer/filing/0001193125-24-092182.json
- Plain text: https://secwatch.observer/filing/0001193125-24-092182.txt

## Key facts
- Material Agreements
  Public Storage entered into Underwriting Agreement with Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC valued at $1.0 billion aggregate principal amount of senior notes (effective 2024-04-09).
  - Action: entry
  - Agreement: underwriting
  - Counterparty: Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC
  - Value: $1.0 billion aggregate principal amount of senior notes
  - Effective: 2024-04-09
  source text: On April 9, 2024, Public Storage (the “Company”) and Public Storage Operating Company, a subsidiary of the Company (“PSOC”), entered into an underwriting agreement (the “Underwriting Agreement”) with Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC, as joint book-running managers of the several underwriters named therein (the “Underwriters”), for the sale of $1.0 billion aggregate principal amount of senior notes in two tranches (collectively, the “Notes”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1393311/000119312524092182/0001193125-24-092182-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.