Re: New Issue $25 Par. Validus Holdings, Ltd. (VR) Perpetual Preferred Stock; 5.875% Area; Fixed-for-Life

Is this MS deal. If so, please send me info. Thanks.

Richard Kahn
HBRK Associates Inc.
575 Lexington Avenue, 4th Floor

$25 Par=New Issue Syndicate Offering:
Validus=Holding, Ltd. (VR)

Issuer: Validus Holdings, Ltd. (Ticker: VR)

Securities Offered: Depositary Shares Each Representing a 1/1,000th Interest in a Share of % Non-Cumulative Preference Shares, Series B

Size: $150mm (6mm $25 per depositary share)

Expected Ratings: Baa3 (S) / BBB—(S) / BBB (S)

Format: SEC Registered

Maturity: Perpetual

Price Guidance: 5.875% Fixed-for-Life

Offer Price: $25.00 per depositary share

Distributions: Payable when, as and if declared on the 15th of March, June, September and December beginning on 9/15/17, Fixed for life

Redemption: Callable at $25.00 per Depositary Share on or after 0/20/2022 or at a Tax Event or Capital Disqualification Event

Use of Proceeds: General Corporate Purposes

QDI Eligible: Yes, see Red for Tax and Withholding details

DRD Eligible: No

Subject to US Tax Withholding for NRA Clients: See Red for Tax and Withholding details

Expected Listing: NYSE

Timing: Today’s Business

Andrew S. Atlas
First Vice President
Equity Sales/Middle Markets Group
Financial Advisor
Morgan Stanley Wealth Management

Please put in for 1mm= Thank you.

Richard Kahn

HBRK Associates Inc.

Hey Ric=,

pricing.

Souther= Trust Co, bot 40k shares of Validas Holdings Preferred. Will circle=back as soon as I have final
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Also ke=ping Evan abreast of all Southern Trust activity.
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Thanks =gain,
Andrew<=>
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Andrew S. Atlas=u>
First Vice President
Equity Sales/Middle =arkets Group
Financial Advisor<=>
Morgan Stanley Wealth Management
1290 Avenue of the America=, 12th Floor | New York, NY 10104
Tel/Direct: | Fax:

NMLS ID # 1326736=/u>

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Can you get a bid. Want to sell now.

Sent from my iPhone

do it