Filed pursuant to Rule 433
August 2, 2006
Relating to
Preliminary Prospectus Supplement dated August 1, 2006 to
Prospectus dated February 1, 2006
Registration Statement No. 333-131464
6.5% Senior Notes Due 2011
Pricing Term Sheet
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Issuer:
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Steelcase Inc. |
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Size:
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$250,000,000 |
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Maturity:
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August 15, 2011 |
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Coupon:
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6.5% |
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Price:
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99.715% of face amount |
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Yield to maturity:
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6.567% |
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Spread to Benchmark Treasury:
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1.68% |
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Benchmark Treasury:
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4.875% due 07/11 |
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Benchmark Treasury Price:
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99-30 1/4 |
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Benchmark Treasury Yield:
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4.887% |
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Interest Payment Dates:
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February 15 and August 15, commencing
February 15, 2007 |
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Optional Redemption:
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The notes are redeemable at the option of the
Company at any time, in whole or in part, at
a redemption price equal to the greater of
(i) 100% of the principal amount of such
notes and (ii) the sum of the present values
of remaining scheduled payments of principal
and interest thereon (exclusive of interest
accrued to the date of redemption) discounted
to the redemption date on a semiannual basis
(assuming a 360-day year consisting of twelve
30-day months) at the Treasury Rate plus 25
basis points. |
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Settlement:
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T+3; August 7, 2006 |
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CUSIP:
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858155AC8 |
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 calling
J.P. Morgan Securities Inc. collect at (212) 834-4533 or calling or e-mailing Banc of America
Securities LLC at (800) 294-1322 or [email protected].
Preliminary Prospectus Supplement dated August 1, 2006 and Prospectus dated February 1, 2006