<SEC-DOCUMENT>0001539497-23-001830.txt : 20231102
<SEC-HEADER>0001539497-23-001830.hdr.sgml : 20231102
<ACCEPTANCE-DATETIME>20231102165320
ACCESSION NUMBER:		0001539497-23-001830
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20231102
DATE AS OF CHANGE:		20231102

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LXP Industrial Trust
		CENTRAL INDEX KEY:			0000910108
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				133717318
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-253297
		FILM NUMBER:		231373318

	BUSINESS ADDRESS:	
		STREET 1:		ONE PENN PLAZA
		STREET 2:		SUITE 4015
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10119
		BUSINESS PHONE:		(212) 692-7200

	MAIL ADDRESS:	
		STREET 1:		ONE PENN PLAZA
		STREET 2:		SUITE 4015
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10119

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LEXINGTON REALTY TRUST
		DATE OF NAME CHANGE:	20070104

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LEXINGTON CORPORATE PROPERTIES TRUST
		DATE OF NAME CHANGE:	19980625

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LEXINGTON CORPORATE PROPERTIES INC
		DATE OF NAME CHANGE:	19930816

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LXP Industrial Trust
		CENTRAL INDEX KEY:			0000910108
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				133717318
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		ONE PENN PLAZA
		STREET 2:		SUITE 4015
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10119
		BUSINESS PHONE:		(212) 692-7200

	MAIL ADDRESS:	
		STREET 1:		ONE PENN PLAZA
		STREET 2:		SUITE 4015
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10119

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LEXINGTON REALTY TRUST
		DATE OF NAME CHANGE:	20070104

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LEXINGTON CORPORATE PROPERTIES TRUST
		DATE OF NAME CHANGE:	19980625

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LEXINGTON CORPORATE PROPERTIES INC
		DATE OF NAME CHANGE:	19930816
</SEC-HEADER>
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<TYPE>FWP
<SEQUENCE>1
<FILENAME>n3521_x8-fwp.htm
<DESCRIPTION>FREE WRITING PROSPECTUS
<TEXT>
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<P STYLE="font: 10pt/12.6pt Times New Roman, Times, Serif; margin: 0 5.9pt 0 0; text-align: right">Issuer Free Writing Prospectus filed pursuant to Rule 433</P>

<P STYLE="font: 10pt/12.6pt Times New Roman, Times, Serif; margin: 0 5.9pt 0 0; text-align: right">supplementing the Preliminary Prospectus Supplement dated</P>

<P STYLE="font: 10pt/12.6pt Times New Roman, Times, Serif; margin: 0 5.9pt 0 0; text-align: right">November 2, 2023 and the Prospectus dated February 19, 2021</P>

<P STYLE="font: 10pt/12.6pt Times New Roman, Times, Serif; margin: 0 5.9pt 0 0; text-align: right">Registration No. 333-253297</P>

<P STYLE="font: 10pt/11.85pt Times New Roman, Times, Serif; margin: 0 113.9pt 0 113pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/11.85pt Times New Roman, Times, Serif; margin: 0 113.9pt 0 113pt; text-align: center"><B>LXP INDUSTRIAL TRUST</B></P>

<P STYLE="font: 10pt/11.85pt Times New Roman, Times, Serif; margin: 0 113.9pt 0 113pt; text-align: center"><B>Pricing Term Sheet</B></P>

<P STYLE="font: 10pt/11.85pt Times New Roman, Times, Serif; margin: 0 113.9pt 0 113pt; text-align: center"><B>Dated November 2, 2023</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><I>This pricing term sheet supplements LXP Industrial Trust&rsquo;s preliminary prospectus supplement, dated November 2, 2023 (the &ldquo;Preliminary Prospectus Supplement&rdquo;), including the documents incorporated by reference therein, relating to the offering of the Notes, and supersedes the information in the Preliminary Prospectus Supplement to the extent inconsistent with the information in the Preliminary Prospectus
Supplement.&nbsp;In all other respects, this pricing term sheet is qualified in its entirety by reference to the Preliminary Prospectus Supplement.&nbsp;Terms used herein but not defined herein shall have the respective meanings as set forth in the Preliminary Prospectus Supplement.&nbsp;All references to dollar amounts are references to U.S. dollars. Unless the context otherwise requires, references to &ldquo;Issuer&rdquo; or &ldquo;we&rdquo; in this pricing term sheet mean LXP Industrial Trust and
not its subsidiaries.</I></P>

<P STYLE="font: 10pt/11.85pt Times New Roman, Times, Serif; margin: 0 113.9pt 0 113pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.45pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 113.95pt 0 113pt; text-align: center"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 97px; width: 249px"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 113.95pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/12.6pt Times New Roman, Times, Serif; margin: 0 113.65pt 0 113pt; text-align: center"><B>Terms applicable to</B></P>

<P STYLE="font: 10pt/12.6pt Times New Roman, Times, Serif; margin: 0 113.65pt 0 113pt; text-align: center"><B>$300,000,000 6.750% Senior Notes due 2028</B></P>

<P STYLE="font: 10pt/12.6pt Times New Roman, Times, Serif; margin: 0 113.65pt 0 113pt; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; text-align: left; font-weight: bold">Issuer:</TD>
    <TD STYLE="text-align: left">LXP Industrial Trust</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: left">Expected Ratings</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: left">(Moody&rsquo;s / S&amp;P / Fitch):*</TD>
<TD STYLE="text-align: left">Baa2 / BBB- / BBB</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; text-align: left; font-weight: bold">Title of Securities:</TD>
<TD STYLE="text-align: left">6.750% Senior Notes due 2028</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; width: 40%; font-weight: bold; text-align: left">Principal Amount Offered:</TD>
<TD STYLE="text-align: left; width: 60%">$300,000,000</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; text-align: left; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: left">Trade Date:</TD>
<TD STYLE="text-align: left">November 2, 2023</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: left">Settlement Date:</TD>
<TD STYLE="text-align: left">November 13, 2023 (T+7)**</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; text-align: left; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: left">Maturity Date:</TD>
<TD STYLE="text-align: left">November 15, 2028</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; text-align: left; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: left">Interest Payment Dates:</TD>
<TD STYLE="text-align: left">Semi-annually each May 15 and November 15, commencing May 15, 2024</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: left">Benchmark Treasury:</TD>
<TD STYLE="text-align: left">4.875% due October 31, 2028</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: left">Benchmark Treasury Price / Yield:</TD>
<TD STYLE="text-align: left">101-01+ / 4.638%</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: left">Spread to Benchmark Treasury:</TD>
<TD STYLE="text-align: left">T+225 bps</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: left">Yield to Maturity:</TD>
<TD STYLE="text-align: left">6.888%</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 6.2pt 0 185.05pt; text-indent: -180.05pt">&nbsp;</P>


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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; width: 40%; font-weight: bold; vertical-align: top">Coupon:</TD>
<TD STYLE="text-align: left; width: 60%">6.750%</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font-weight: bold; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font-weight: bold; vertical-align: top">Denominations:</TD>
<TD STYLE="text-align: left">$2,000 and integral multiples of $1,000 in excess thereof</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font-weight: bold; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font-weight: bold; vertical-align: top">Public Offering Price:</TD>
<TD STYLE="text-align: left">99.423% of the principal amount</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font-weight: bold; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: left">Gross Proceeds:</TD>
<TD STYLE="text-align: left">$298,269,000</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font-weight: bold; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: left">Optional Redemption:</TD>
<TD STYLE="text-align: left">Make-whole call at any time before October 15, 2028 (one month prior to November 15, 2028) based on U.S. Treasury plus 35 basis points, or at par thereafter</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font-weight: bold; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: left">Joint Book-Running Managers:</TD>
<TD STYLE="text-align: left">Wells Fargo Securities, LLC</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: left">J.P. Morgan Securities LLC</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: left">Mizuho Securities USA LLC</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: left">KeyBanc Capital Markets Inc.</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: left">Regions Securities LLC</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: left">BofA Securities, Inc.</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: left">TD Securities (USA) LLC</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font-weight: bold; vertical-align: top">Co-Managers:</TD>
<TD STYLE="text-align: left">Citizens Capital Markets, Inc.</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: left">Samuel A. Ramirez &amp; Company, Inc.</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: left">CUSIP / ISIN:</TD>
<TD STYLE="text-align: left">529043 AF8 / US529043AF83</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font-weight: bold; vertical-align: top">Form of Offering:</TD>
    <TD STYLE="text-align: left">SEC Registered (Registration No. 333-253297)</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 6.2pt 0 185.05pt; text-indent: -180.05pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>* A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 2.6pt 12pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 2.6pt 12pt 0 0; text-align: justify">**We expect that delivery of the notes will be made to investors on or about November 13, 2023, which will be the seventh business day following the date of pricing of the notes (such settlement being referred to as &lsquo;&lsquo;T+7&rsquo;&rsquo;). Under Rule 15c6-1 of the Securities Exchange Act of 1934, as amended, trades in the secondary market generally are required to settle in two business days
unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the notes on the date of pricing of the notes or the next four succeeding business days will be required, by virtue of the fact that the notes initially will settle in T+2, to specify an alternative settlement cycle at the time of any such trade to prevent failed settlement and should consult their own advisors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 2.6pt 12pt 0 0; text-align: justify">The Issuer has filed a registration statement (including a preliminary prospectus supplement) with the Securities and Exchange Commission for the offering to which this communication relates. Before you invest, you should read the base prospectus in that registration statement and the preliminary prospectus supplement (including the documents incorporated by reference therein) for more complete information
about the Issuer and this offering. You may get these documents for free by visiting EDGAR on the Securities and Exchange Commission&rsquo;s website at www.sec.gov. Alternatively, copies may be obtained from Wells Fargo Securities, LLC toll free at 1-800-645-3751, J.P. Morgan Securities LLC collect at 1-212-834-4533 or Mizuho Securities USA LLC toll free at 1-866-271-7403.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 2.6pt 12pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 2.6pt 12pt 0 0; text-align: justify"><FONT STYLE="background-color: white"><B>ANY DISCLAIMERS OR OTHER NOTICES THAT MAY&nbsp;APPEAR BELOW ARE NOT APPLICABLE TO THIS COMMUNICATION AND SHOULD BE DISREGARDED. SUCH DISCLAIMERS OR OTHER NOTICES WERE AUTOMATICALLY GENERATED AS A RESULT OF THIS COMMUNICATION BEING SENT VIA BLOOMBERG OR ANOTHER&nbsp;E-MAIL&nbsp;SYSTEM.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 2.6pt 12pt 0 0; text-align: justify"><FONT STYLE="background-color: white"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 2.6pt 12pt 0 0; text-align: justify"><FONT STYLE="background-color: white"><B></B></FONT></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
